Guideline Value for Keerthi Nagar

Keerthi Nagar guideline value

The current guideline value of Keerthi Nagar, located in Erumaiyur village under the Padappai SRO, is Rs 940 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Special Type - I.

How the guideline value of Keerthi Nagar has changed

The guideline value for Keerthi Nagar has seen several revisions over the years. The 2012 revision set the value at Rs 850 per sq.ft, which then decreased to Rs 569 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 850 per sq.ft in the 2023 revision, and then rose to Rs 940 per sq.ft in the 2024 revision, marking an increase of 11% from the previous year. Overall, from 2012 to 2024, the guideline value has increased by 11%.

In comparison, the register has no figures for the years 2002, 2003, and 2007 for this street. The 2023 revision saw a 49% increase from the 2017 value, while the transition from the 2012 to the 2017 revision reflected a decrease of 33%.

Guideline values in Erumaiyur

Erumaiyur village has a total of 21 streets under the Padappai SRO carrying a 2024 guideline value ranging from Rs 440 to Rs 4,300 per sq.ft, with the median value set at Rs 940 per sq.ft. Keerthi Nagar's 2024 guideline value is equal to this median.

• Kumaran Nagar: Rs 440 per sq.ft (2024)
• Mannadiyamman Koil Street: Rs 550 per sq.ft (2024)
• Indhra Gandhi Street: Rs 550 per sq.ft (2024)
• GR Nagar and Extn: Rs 940 per sq.ft (2024)
• Ganesh Nagar: Rs 550 per sq.ft (2024)
• Ek Avenues: Rs 2,630 per sq.ft (2024)

Stamp duty and registration fee for property in Keerthi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 940 per sq.ft, the total guideline value amounts to Rs 9,40,000. The stamp duty at 7% would be Rs 65,800, and the registration fee at 2% would be Rs 18,800, bringing the total fees together to Rs 84,600. 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 Keerthi Nagar?

The Sub Registrar Office that covers Keerthi 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 Erumaiyur

The guideline value is an essential factor in property transactions in Erumaiyur, as it determines the minimum value at which properties can be registered. Buyers and sellers must consider this value when negotiating sale prices to ensure compliance with registration requirements.

When a property is sold, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Keerthi Nagar?

The current guideline value of Keerthi Nagar is Rs 940 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since the 2012 revision, the guideline value has changed from Rs 850 per sq.ft to Rs 569 per sq.ft in 2017, then to Rs 850 per sq.ft in 2023, and finally to Rs 940 per sq.ft in 2024. Overall, this reflects an increase of 11% from 2012 to 2024.

What is the land classification for Keerthi Nagar?

The land classification for Keerthi Nagar is Residential Special Type - I, indicating its designated use for residential purposes.

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

For a property valued at Rs 9,40,000, the stamp duty would be Rs 65,800 and the registration fee would be Rs 18,800, totaling Rs 84,600. These fees are based on the guideline value or the sale price, whichever is higher.

Which office handles registrations for properties in Keerthi Nagar?

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