Guideline Value for Kesari Nagar 1st Street

Kesari Nagar 1st Street guideline value

The current guideline value of Kesari Nagar 1st Street is Rs 3,900 per sq.ft, effective from 1 July 2024. This street is located in Adambakkam village and falls under the Alandur SRO. The land classification is Residential Class I Type - III.

How the guideline value of Kesari Nagar 1st Street has changed

The guideline value for Kesari Nagar 1st Street has seen several revisions over the years. In 2002, the value was Rs 355 per sq.ft. This increased to Rs 405 per sq.ft in 2003, marking a 14% rise. The value then rose significantly to Rs 900 per sq.ft in 2007, reflecting a 122% increase. Following this, the value surged to Rs 3,500 per sq.ft in 2012, which was a substantial 289% increase. However, in 2017, the value decreased to Rs 2,345 per sq.ft, representing a 33% decline. The value then increased again to Rs 3,500 per sq.ft in 2023, showing a 49% rise. The most recent revision in 2024 set the guideline value at Rs 3,900 per sq.ft, which is an 11% increase from the previous year.

It is important to note that there are no figures available for the revisions in years other than those specified. The register does not contain any figures for the years not listed.

Guideline values in Adambakkam

In Adambakkam, there are 569 streets under the Alandur SRO that carry a 2024 guideline value ranging from Rs 2,800 to Rs 11,000 per sq.ft. The median guideline value for these streets is Rs 3,900 per sq.ft, which is equal to the current value for Kesari Nagar 1st Street.

• Kesari Nagar 2nd Street: Rs 3,900 per sq.ft (2024)
• Kesari Nagar 3rd Street: Rs 3,900 per sq.ft (2024)
• Kesari Nagar 4th Street: Rs 3,900 per sq.ft (2024)
• Kesari Nagar 4th street Extension: Rs 3,900 per sq.ft (2024)
• Kesari Nagar 5th Street: Rs 3,900 per sq.ft (2024)
• Kesari Nagar 6th Street: Rs 3,900 per sq.ft (2024)

Stamp duty and registration fee for property in Kesari Nagar 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,900 per sq.ft, the total guideline value would be Rs 39,00,000. The stamp duty at 7% would amount to Rs 2,73,000, and the registration fee at 2% would be Rs 78,000, bringing the total cost for these fees to Rs 3,51,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kesari Nagar 1st Street?

The Kesari Nagar 1st Street falls under the jurisdiction of the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. For more details, you can find your SRO.

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

The guideline value is a crucial factor when registering property transactions in Adambakkam. It is used to determine the stamp duty and registration fees that must be paid during the property transfer process.

When buying or selling property, the guideline value helps ensure that the transaction is recorded accurately and that the appropriate taxes are collected. It serves as a benchmark for both buyers and sellers to understand the value of the property being exchanged.

Frequently asked questions

What is the current guideline value of Kesari Nagar 1st Street?

The current guideline value of Kesari Nagar 1st Street is Rs 3,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 355 per sq.ft in 2002 to Rs 3,900 per sq.ft in 2024, reflecting an overall increase of 999% over the years.

What is the land classification for Kesari Nagar 1st Street?

Kesi Nagar 1st Street is classified as Residential Class I Type - III.

Where can I find the Alandur Sub Registrar Office?

The Alandur Sub Registrar Office is located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

How is the stamp duty calculated for properties in Kesari Nagar 1st Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a 1,000 sq.ft plot at the current guideline value would incur a stamp duty of Rs 2,73,000.