Guideline Value for Kesari Nagar 3rd Street

Kesari Nagar 3rd Street guideline value

The current guideline value of Kesari Nagar 3rd 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 3rd Street has changed

The guideline value for Kesari Nagar 3rd Street has undergone several revisions over the years. The 2002 revision recorded a guideline value of Rs 355 per sq.ft. This increased to Rs 405 per sq.ft in 2003, marking a 14% rise. Following this, the value surged significantly to Rs 900 per sq.ft in 2007, reflecting a 122% increase. The next revision in 2012 saw the value rise to Rs 3,500 per sq.ft, a substantial 289% increase from the previous revision. However, in 2017, the value dropped to Rs 2,345 per sq.ft, representing a decrease of 33%. The 2023 revision set the guideline value at Rs 3,500 per sq.ft, which was unchanged from the 2012 figure. Finally, the current 2024 revision has increased the guideline value to Rs 3,900 per sq.ft, an 11% increase from the previous year.

There are no figures available for the years not mentioned in the revisions for this street.

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 2024 figure for Kesari Nagar 3rd Street.

• Kesari Nagar 1st Street: Rs 3,900 per sq.ft (2024)
• Kesari Nagar 2nd 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 3rd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,900 per sq.ft, the total guideline value amounts to 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 fees together 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.

You can also use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Kesari Nagar 3rd Street?

The Sub Registrar Office that covers Kesari Nagar 3rd 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 an essential factor in the registration process when buying or selling property in Adambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately in the official records.

When a property is sold, the guideline value is used to calculate the applicable stamp duty and registration fees. Buyers must ensure that they are aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Kesari Nagar 3rd Street?

The current guideline value of Kesari Nagar 3rd 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, showing an overall increase of 999% over the years.

What are the stamp duty and registration fees for a property in Kesari Nagar 3rd Street?

For a property valued at Rs 39,00,000, the stamp duty would be Rs 2,73,000 and the registration fee would be Rs 78,000, totaling Rs 3,51,000.

Which office handles the registration for Kesari Nagar 3rd Street?

The registration for Kesari Nagar 3rd Street is handled by the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

What is the significance of the guideline value in property transactions?

The guideline value is used to determine the minimum value for property registration and to calculate the stamp duty and registration fees during property transactions in Adambakkam.