Guideline Value for Kesari Nagar 6th Street

Kesari Nagar 6th Street guideline value

The current guideline value of Kesari Nagar 6th 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 for this area is Residential Class I Type - III.

How the guideline value of Kesari Nagar 6th Street has changed

The guideline value for Kesari Nagar 6th Street has undergone several revisions over the years. In 2002, the guideline value was Rs 355 per sq.ft, which increased to Rs 405 per sq.ft in 2003, marking a 14% increase. The value saw a significant rise to Rs 900 per sq.ft in 2007, representing a 122% increase. By 2012, the value was Rs 3,500 per sq.ft, showing a substantial increase of 289%. However, it decreased to Rs 2,345 per sq.ft in 2017, reflecting a decline of 33%. The guideline value then rose to Rs 3,500 per sq.ft in 2023, and currently stands at Rs 3,900 per sq.ft as of the 2024 revision, indicating an 11% increase from the previous year.

Throughout these revisions, the overall increase from 2002 to 2024 is notable, with a total rise of 999%. There are no figures available for any other years in the register 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 current guideline value of Kesari Nagar 6th Street.

• Kesari Nagar 5th Street: Rs 3,900 per sq.ft (2024)
• Kesari Nagar 7th Street: Rs 3,900 per sq.ft (2024)
• Kesari Nagar 4th street Extension: Rs 3,900 per sq.ft (2024)
• Kesari Nagar Main Road: Rs 3,900 per sq.ft (2024)
• Kesari Nagar 4th Street: Rs 3,900 per sq.ft (2024)
• Kesari Nagar 3rd Street: Rs 3,900 per sq.ft (2024)

Stamp duty and registration fee for property in Kesari Nagar 6th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,900 per sq.ft, the total guideline value is 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 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 the stamp duty and registration fee calculator to estimate your costs.

Which Sub Registrar Office covers Kesari Nagar 6th Street?

The Sub Registrar Office that covers Kesari Nagar 6th Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061, Chennai registration zone.

To find your SRO, visit find your SRO.

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

The guideline value is an essential factor when registering property transactions in Adambakkam. It serves as a benchmark for determining the minimum value of a property and is used to calculate stamp duty and registration fees during the sale or purchase process.

When a buyer or seller engages in a property transaction, the guideline value ensures that the transaction is recorded at a fair value, which aids in maintaining transparency in the real estate market. It is crucial for both parties to be aware of the guideline value to avoid any discrepancies during registration.

Frequently asked questions

What is the current guideline value of Kesari Nagar 6th Street?

The current guideline value of Kesari Nagar 6th 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 a total increase of 999% over the years.

What is the land classification for Kesari Nagar 6th Street?

The land classification for Kesari Nagar 6th Street is Residential Class I Type - III.

How is the stamp duty calculated for properties in Kesari Nagar 6th Street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at Rs 3,900 per sq.ft would incur a stamp duty of Rs 2,73,000.

Where is the Sub Registrar Office for Kesari Nagar 6th Street located?

The Sub Registrar Office for Kesari Nagar 6th Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.