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_B 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 for Kailashpuri Nagar has undergone several revisions over the years. The earliest recorded figure is from the 2017 revision, which was Rs 167 per sq.ft. This figure increased to Rs 250 per sq.ft in both the 2023 and 2024 revisions, indicating a 50% increase from 2017 to 2023 and an overall increase of 50% from 2017 to 2024. Notably, there are no recorded figures for the years 2002, 2003, 2007, and 2012 for this street.

From 2023 to 2024, the guideline value remained unchanged at Rs 250 per sq.ft, showing a 0% change during this period. The consistent figure in the last two revisions reflects stability in the guideline value for Kailashpuri Nagar.

Guideline values in Somangalam_B

In Somangalam_B, there are 79 streets under the Sriperumpudur SRO that carry a guideline value for 2024, ranging from Rs 150 to Rs 2,500 per sq.ft. The median value for these streets is Rs 250 per sq.ft, which is equal to the guideline value of Kailashpuri Nagar.

• 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 would be Rs 2,50,000. The stamp duty at 7% would amount to Rs 17,500, and the registration fee at 2% would be Rs 5,000. Therefore, the total charges would be 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 further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kailashpuri Nagar?

The Kailashpuri Nagar area falls under the jurisdiction of the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. To find your specific SRO, you can visit find your SRO.

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

The guideline value plays a crucial role during the registration of property transactions in Somangalam_B. It serves as the minimum benchmark for determining the stamp duty and registration fees payable when buying or selling property in this locality.

When a property is sold, the guideline value is compared with the sale price, and the higher amount is used to calculate the applicable duties. This ensures that the registration process reflects the true value of the property being transferred.

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 increased from Rs 167 per sq.ft in 2017 to Rs 250 per sq.ft in both 2023 and 2024. There were no recorded figures for the years 2002, 2003, 2007, and 2012.

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

The stamp duty is calculated at 7% of the guideline value, while the registration fee is 2%. For a property valued at Rs 2,50,000, the total charges would be Rs 22,500.

Which office handles property registrations in Kailashpuri Nagar?

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

How is the guideline value determined for properties in Somangalam_B?

The guideline value is determined based on various factors and is updated periodically. In Somangalam_B, the guideline values range from Rs 150 to Rs 2,500 per sq.ft, with the median value being Rs 250 per sq.ft.