Guideline Value for Kaja Hayath Nagar

Kaja Hayath Nagar guideline value

The current guideline value of Kaja Hayath Nagar is Rs 2,970 per sq.ft, effective from 1 July 2024. This area is located in Perungalathur village and falls under the Padappai SRO. The land classification for this street is Commercial Class I Type - II.

How the guideline value of Kaja Hayath Nagar has changed

The guideline value for Kaja Hayath Nagar has seen significant changes over the years. In the 2007 revision, the value was set at Rs 250 per sq.ft. This figure increased dramatically to Rs 2,700 per sq.ft in the 2012 revision, marking a rise of 980%. However, in the 2017 revision, the value decreased to Rs 1,809 per sq.ft, reflecting a decline of 33%. The value then rose to Rs 2,700 per sq.ft in the 2023 revision, with a notable increase of 49% from the previous revision.

As of the 2024 revision, the guideline value stands at Rs 2,970 per sq.ft, which is a 10% increase from the 2023 figure. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 1,088%.

Guideline values in Perungalathur

In Perungalathur, there are 411 streets under the Padappai SRO that carry a 2024 guideline value, ranging from Rs 1,320 to Rs 5,500 per sq.ft. The median value for these streets is Rs 2,310 per sq.ft, placing Kaja Hayath Nagar's 2024 value above this median.

• Kailash Avenue and Extn: Rs 2,310 per sq.ft (2024)
• Kailash Avenue: Rs 2,300 per sq.ft (2024)
• Kakkanji Street: Rs 1,980 per sq.ft (2024)
• Kagapujanthkar Nagar: Rs 2,640 per sq.ft (2024)
• Kalaignar Salai: Rs 1,320 per sq.ft (2024)
• Kaanaan Avenue: Rs 3,960 per sq.ft (2024)

Stamp duty and registration fee for property in Kaja Hayath Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,970 per sq.ft, the total guideline value would be Rs 29,70,000. The stamp duty at 7% would amount to Rs 2,07,900, and the registration fee at 2% would be Rs 59,400, bringing the total fees to Rs 2,67,300. 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 Kaja Hayath Nagar?

The Sub Registrar Office that covers Kaja Hayath Nagar is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is an essential factor in the registration process when buying or selling property in Perungalathur. It helps determine the stamp duty and registration fees payable, which are calculated based on the guideline value or the sale price, whichever is higher.

When a property is sold, the guideline value ensures that the transaction is recorded at a fair value, preventing undervaluation. This process helps maintain transparency and integrity in property transactions within the region.

Frequently asked questions

What is the current guideline value of Kaja Hayath Nagar?

The current guideline value of Kaja Hayath Nagar is Rs 2,970 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Over the years, the guideline value has changed significantly, from Rs 250 per sq.ft in 2007 to Rs 2,970 per sq.ft in 2024, reflecting an overall increase of 1,088%.

What are the stamp duty and registration fees for properties in Kaja Hayath Nagar?

The stamp duty is charged at 7% of the guideline value, while the registration fee is 2%. For instance, a 1,000 sq.ft plot would incur total fees of Rs 2,67,300.

Which office handles property registrations in Kaja Hayath Nagar?

The Padappai Sub Registrar Office handles property registrations for Kaja Hayath Nagar, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

What is the land classification for Kaja Hayath Nagar?

The land classification for Kaja Hayath Nagar is Commercial Class I Type - II, indicating its designated use for commercial activities.