Guideline Value for Kesari Nagar 2nd Street

Kesari Nagar 2nd Street guideline value

The current guideline value of Kesari Nagar 2nd Street is Rs 3,900 per sq.ft, effective from 1 July 2024. This street is located in Adambakkam village, under the Alandur SRO, and is classified as Residential Class I Type - III.

How the guideline value of Kesari Nagar 2nd Street has changed

The guideline value for Kesari Nagar 2nd Street has undergone several revisions over the years. In 2002, the value was Rs 355 per sq.ft, which increased to Rs 405 per sq.ft in 2003. By 2007, the value saw a significant rise to Rs 900 per sq.ft, followed by a jump to Rs 3,500 per sq.ft in 2012. However, in 2017, the value decreased to Rs 2,345 per sq.ft. The 2023 revision saw an increase to Rs 3,500 per sq.ft, and the latest revision in 2024 set the value at Rs 3,900 per sq.ft.

Between the revisions, the changes are notable. From 2002 to 2024, there has been an overall increase of 999%. The most significant change occurred from 2007 to 2012, where the value decreased by 33%. The increase from 2017 to 2023 was 49%, and the jump from 2023 to 2024 was 11%.

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 value is Rs 3,900 per sq.ft, which is the same as the guideline value for Kesari Nagar 2nd Street.

• Kesari Nagar 1st 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 2nd 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 be Rs 2,73,000, and the registration fee at 2% would be Rs 78,000, bringing the total to Rs 3,51,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kesari Nagar 2nd Street?

The Sub Registrar Office that covers Kesari Nagar 2nd Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Adambakkam. It serves as a benchmark for determining the minimum price at which a property can be registered. Buyers and sellers must consider this value 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 Kesari Nagar 2nd Street?

The current guideline value of Kesari Nagar 2nd 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 significantly from Rs 355 per sq.ft in 2002 to Rs 3,900 per sq.ft in 2024, marking an overall increase of 999% over the years.

What is the stamp duty rate for properties in Kesari Nagar 2nd Street?

The stamp duty rate for properties in Kesari Nagar 2nd Street is 7% of the guideline value or sale price, whichever is higher.

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.

What are the other streets with the same guideline value in Adambakkam?

Other streets in Adambakkam with the same guideline value of Rs 3,900 per sq.ft include Kesari Nagar 1st Street, Kesari Nagar 3rd Street, Kesari Nagar 4th Street, Kesari Nagar 4th street Extension, Kesari Nagar 5th Street, and Kesari Nagar 6th Street.