Guideline Value for Kesari Nagar 7th Street

Kesari Nagar 7th Street guideline value

The current guideline value of Kesari Nagar 7th 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 falls under the Residential Class I Type - III land classification.

How the guideline value of Kesari Nagar 7th Street has changed

The guideline value for Kesari Nagar 7th Street has undergone several revisions over the years. The earliest recorded figure is from 2002, which was Rs 355 per sq.ft. This increased to Rs 405 per sq.ft in 2003, marking a 14% rise. The value then saw a significant increase to Rs 900 per sq.ft in 2007, which is a 122% change. Following this, the guideline value jumped to Rs 3,500 per sq.ft in 2012, reflecting a remarkable 289% increase. However, in 2017, it decreased to Rs 2,345 per sq.ft, a drop of 33%. The value rose again to Rs 3,500 per sq.ft in 2023, and most recently, it has reached Rs 3,900 per sq.ft in 2024, an 11% increase from the previous year. The register has no 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 value for these streets is Rs 3,900 per sq.ft, which is the same as the current guideline value for Kesari Nagar 7th Street.

• Kesari Nagar 6th Street: Rs 3,900 per sq.ft (2024)
• Kesari Nagar Main Road: Rs 3,900 per sq.ft (2024)
• Kesari Nagar 5th Street: Rs 3,900 per sq.ft (2024)
• Kesari Nagar 4th street Extension: 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 7th 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 is charged at 7%, resulting in Rs 2,73,000, and the registration fee at 2% amounts to Rs 78,000. Together, the total cost for stamp duty and registration fee is Rs 3,51,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kesari Nagar 7th Street?

The Sub Registrar Office that covers Kesari Nagar 7th Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. For more information, you can find your SRO.

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

The guideline value is an essential factor in the registration of property transactions in Adambakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when a property is bought or sold. This ensures that the transaction is recorded accurately and that the appropriate taxes are collected by the government.

When buying or selling property, it is crucial to be aware of the current guideline value, as it affects the overall cost of the transaction. Buyers should ensure that they are informed about the guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Kesari Nagar 7th Street?

The current guideline value of Kesari Nagar 7th 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 are the stamp duty and registration fees for property in Kesari Nagar 7th Street?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total cost for stamp duty and registration fee is Rs 3,51,000.

Which office handles the registration for Kesari Nagar 7th Street?

The Alandur Sub Registrar Office handles the registration for Kesari Nagar 7th Street, 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 stamp duty and registration fees during property transactions. It serves as a benchmark for ensuring that the transaction is recorded accurately and that the appropriate taxes are collected by the government.