Guideline Value for Kensis Shakthi Nagar

Kensis Shakthi Nagar guideline value

The current guideline value of Kensis Shakthi Nagar is Rs 1,650 per sq.ft, effective from 1 July 2024. This area is located in Varadarajapuram village, under the Padappai SRO, and is classified as Residential Special Type - II.

How the guideline value of Kensis Shakthi Nagar has changed

The guideline value for Kensis Shakthi Nagar has seen several revisions over the years. The 2012 revision set the value at Rs 1,500 per sq.ft, which then changed to Rs 1,005 per sq.ft in 2017, reflecting a decrease of 33%. However, from 2017 to 2023, the value rose significantly to Rs 1,500 per sq.ft, marking an increase of 49%. The latest revision in 2024 has further increased the guideline value to Rs 1,650 per sq.ft, a rise of 10% from the previous year.

It is important to note that there are no figures available for Kensis Shakthi Nagar in the years 2002, 2003, and 2007. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Varadarajapuram

In Varadarajapuram, there are 250 streets under the Padappai SRO that carry a 2024 guideline value ranging from Rs 880 to Rs 4,100 per sq.ft. The median guideline value is Rs 1,650 per sq.ft, which is equal to the current value of Kensis Shakthi Nagar.

• Kishanlal Avenue: Rs 3,300 per sq.ft (2024)
• Krishna Nagar: Rs 1,320 per sq.ft (2024)
• Karthiga Nagar: Rs 1,650 per sq.ft (2024)
• Krishna Nagar I, II and III: Rs 1,320 per sq.ft (2024)
• Krishna Nagar Part I: Rs 1,650 per sq.ft (2024)
• Krishna Nagar Part II: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Kensis Shakthi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value amounts to Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total to Rs 1,48,500. It is essential to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use our stamp duty and registration fee calculator for more accurate estimates.

Which Sub Registrar Office covers Kensis Shakthi Nagar?

Kensis Shakthi Nagar falls under 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 details.

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

The guideline value plays a crucial role during property transactions in Varadarajapuram. It is used to determine the stamp duty and registration fees applicable when a property is bought or sold. Buyers and sellers must be aware that the guideline value is considered the minimum value for property transactions.

When registering a property, the guideline value is referenced to ensure that the transaction is in compliance with local regulations. This helps maintain transparency and fairness in property dealings within the region.

Frequently asked questions

What is the current guideline value of Kensis Shakthi Nagar?

The current guideline value of Kensis Shakthi Nagar is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, then to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,650 per sq.ft in 2024.

What are the stamp duty and registration fees for properties in Kensis Shakthi Nagar?

For a property valued at Rs 16,50,000, the stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, totaling Rs 1,48,500.

Which Sub Registrar Office covers Kensis Shakthi Nagar?

Kensis Shakthi Nagar is covered by the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

What is the land classification of Kensis Shakthi Nagar?

Kensis Shakthi Nagar is classified as Residential Special Type - II, indicating its designated use for residential purposes.