Guideline Value for Kailashpuri Nagar

Kailashpuri Nagar guideline value

The current guideline value of Kailashpuri Nagar is Rs 250 per sq.ft, effective from 1 July 2024. This locality is situated in Somangalam village under the Sriperumpudur SRO and is classified as Residential Class II Type - I.

How the guideline value of Kailashpuri Nagar has changed

The guideline value of Kailashpuri Nagar has experienced several revisions over the years. The 2007 revision set the value at Rs 75 per sq.ft, which increased significantly to Rs 250 per sq.ft in the 2012 revision. However, in the 2017 revision, the value was adjusted down to Rs 167 per sq.ft, before returning to Rs 250 per sq.ft in both the 2023 and 2024 revisions, reflecting no change between these two years.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 233%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Somangalam

In Somangalam village, there are 86 streets under the Sriperumpudur SRO that carry a 2024 guideline value ranging from Rs 150 to Rs 800 per sq.ft, with a median value of Rs 350 per sq.ft. The guideline value of Kailashpuri Nagar is below this median.

• Jeyam Nagar: Rs 400 per sq.ft (2024)
• Jayaram Nagar: Rs 250 per sq.ft (2024)
• Jayabalan Nagar: Rs 400 per sq.ft (2024)
• Kanthapuri: Rs 400 per sq.ft (2024)
• Indira Nagar Part II: Rs 200 per sq.ft (2024)
• Indira Nagar: Rs 400 per sq.ft (2024)

Stamp duty and registration fee for property in Kailashpuri Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 250 per sq.ft, the total guideline value amounts to Rs 2,50,000. The stamp duty at 7% would be Rs 17,500, and the registration fee at 2% would be Rs 5,000, totaling Rs 22,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kailashpuri Nagar?

Kailashpuri Nagar falls under the jurisdiction of the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for additional information.

How the guideline value is used when you buy or sell in Somangalam

The guideline value is a crucial factor during property registration in Somangalam. It determines the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, both parties must consider the guideline value to comply with legal requirements. It serves as an official benchmark for property transactions, helping to maintain transparency in the real estate market.

Frequently asked questions

What is the current guideline value of Kailashpuri Nagar?

The current guideline value of Kailashpuri Nagar is Rs 250 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 75 per sq.ft in 2007 to Rs 250 per sq.ft in 2012, decreased to Rs 167 per sq.ft in 2017, and returned to Rs 250 per sq.ft in both 2023 and 2024.

What are the guideline values of other streets in Somangalam?

Other streets in Somangalam have varying guideline values, with rates ranging from Rs 150 to Rs 800 per sq.ft. For example, Jeyam Nagar has a value of Rs 400 per sq.ft, while Indira Nagar Part II is at Rs 200 per sq.ft.

What are the stamp duty and registration fees for property in Kailashpuri Nagar?

For a property valued at Rs 2,50,000, the stamp duty would be Rs 17,500 and the registration fee would be Rs 5,000, totaling Rs 22,500. This is based on the guideline value of Rs 250 per sq.ft.

Which office handles property registration for Kailashpuri Nagar?

The Sriperumpudur Sub Registrar Office handles property registration for Kailashpuri Nagar, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.