Guideline Value for Kajalakshmi Nagar

Kajalakshmi Nagar guideline value

The current guideline value of Kajalakshmi Nagar is Rs 400 per sq.ft, effective from 1 July 2024. This area is located in Irunkattukottai village, under the Sriperumpudur SRO, and is classified as Residential Class III Type - I.

How the guideline value of Kajalakshmi Nagar has changed

Over the years, the guideline value for Kajalakshmi Nagar has seen several revisions. The 2012 revision set the value at Rs 400 per sq.ft, which remained unchanged in the subsequent revisions of 2017 and 2023. The 2017 revision marked a significant increase from Rs 268 per sq.ft in 2017, reflecting a 49% rise. However, from 2017 to 2023, there was no change, maintaining the value at Rs 400 per sq.ft.

The most recent revision in 2024 again set the guideline value at Rs 400 per sq.ft, resulting in an overall change of 0% from the 2012 revision. Notably, there are no figures available for the years 2002, 2003, and 2007 for this street.

Guideline values in Irunkattukottai

In Irunkattukottai, there are 56 streets under the Sriperumpudur SRO that carry a 2024 guideline value ranging from Rs 250 to Rs 1,250 per sq.ft. The median value for these streets is Rs 400 per sq.ft, which is equal to the guideline value of Kajalakshmi Nagar.

• Kalaignar Street: Rs 250 per sq.ft (2024)
• J.S.R. Nagar: Rs 250 per sq.ft (2024)
• Kamachi Amman Nagar - I: Rs 600 per sq.ft (2024)
• Kamachi Amman Nagar - II: Rs 600 per sq.ft (2024)
• Kamachi Amman Nagar - III: Rs 600 per sq.ft (2024)
• Kamachi Amman Nagar - IV: Rs 600 per sq.ft (2024)

Stamp duty and registration fee for property in Kajalakshmi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 400 per sq.ft, the total guideline value amounts to Rs 4,00,000. The stamp duty at 7% would be Rs 28,000, and the registration fee at 2% would be Rs 8,000, totaling Rs 36,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kajalakshmi Nagar?

Kajalakshmi Nagar is covered by the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for further assistance.

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

The guideline value plays a crucial role in property transactions in Irunkattukottai. When buying or selling property, the guideline value is used to determine the stamp duty and registration fees that need to be paid. This ensures that the transaction is recorded accurately and transparently.

During the registration process, the guideline value is compared to the sale price, and the duty is charged on the higher of the two amounts. This helps in maintaining a standardized valuation system across the region.

Frequently asked questions

What is the current guideline value of Kajalakshmi Nagar?

The current guideline value of Kajalakshmi Nagar is Rs 400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained the same at Rs 400 per sq.ft from 2012 to 2024, despite a significant increase of 49% from Rs 268 per sq.ft in 2017. There were no figures available for the years 2002, 2003, and 2007.

What is the land classification of Kajalakshmi Nagar?

Kajalakshmi Nagar is classified as Residential Class III Type - I. This classification helps in determining the appropriate guidelines for property transactions in the area.

Where is the Sriperumpudur Sub Registrar Office located?

The Sriperumpudur Sub Registrar Office is located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. This office handles the registration of properties in Kajalakshmi Nagar.

How is stamp duty calculated in Kajalakshmi Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at Rs 400 per sq.ft, the total guideline value would be Rs 4,00,000, resulting in a stamp duty of Rs 28,000.