Guideline Value for Kesavalu Street(Nehru Nagar)

Kesavalu Street(Nehru Nagar) guideline value

The current guideline value for Kesavalu Street(Nehru Nagar) is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Saligramam village under the Virugambakkam SRO and is classified as Residential Class II Type - I.

How the guideline value of Kesavalu Street(Nehru Nagar) has changed

The guideline value has undergone several revisions over the years. Starting from the 2007 revision, the value was Rs 1,100 per sq.ft. This increased significantly to Rs 4,000 per sq.ft in 2012, marking a 264% rise. However, the value decreased to Rs 2,680 per sq.ft in 2017, a decline of 33%. The 2023 revision saw the value increase to Rs 4,000 per sq.ft, and the latest revision in 2024 has raised it to Rs 4,400 per sq.ft, reflecting a 10% increase.

There are no figures available for the years 2002 and 2003 in the register for this street. Overall, from 2007 to 2024, the guideline value has increased by 300%.

Guideline values in Saligramam

In Saligramam, there are 333 streets under the Virugambakkam SRO, with guideline values ranging from Rs 2,750 to Rs 13,200 per sq.ft. The median value is Rs 4,400 per sq.ft, which is equal to the 2024 guideline value of Kesavalu Street(Nehru Nagar).

• K.G.Nair Street: Rs 4,950 per sq.ft (2024)
• Kavery Street: Rs 5,500 per sq.ft (2024)
• Kaveri Rangan Street: Rs 5,500 per sq.ft (2024)
• Kaveri Rangan Nagar - Pillayar Koil Street: Rs 5,500 per sq.ft (2024)
• Kaveri Rangan Nagar - M.G.R. Street: Rs 5,500 per sq.ft (2024)
• Kaveri Rangan Nagar - KottaiMadakkarar Street: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Kesavalu Street(Nehru Nagar)

For a 1,000 sq.ft plot at the current rate of Rs 4,400 per sq.ft, the guideline value amounts to Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, bringing the total to Rs 3,96,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for detailed calculations.

Which Sub Registrar Office covers Kesavalu Street(Nehru Nagar)?

The Sub Registrar Office covering Kesavalu Street(Nehru Nagar) is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more information.

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

The guideline value is crucial when registering property transactions in Saligramam. It serves as a basis for calculating stamp duty and registration fees, ensuring that the transaction is recorded at a fair value.

When buying or selling property, the guideline value helps in determining the minimum value at which the property can be registered. This ensures transparency and compliance with local regulations during the transaction process.

Frequently asked questions

What is the current guideline value for Kesavalu Street(Nehru Nagar)?

The current guideline value for Kesavalu Street(Nehru Nagar) is Rs 4,400 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 1,100 per sq.ft in 2007 to Rs 4,400 per sq.ft in 2024, reflecting an overall increase of 300% over this period.

What is the land classification for Kesavalu Street(Nehru Nagar)?

Kesavalu Street(Nehru Nagar) is classified as Residential Class II Type - I, indicating its suitability for residential purposes.

What are the stamp duty and registration fees for properties on this street?

For a property valued at Rs 44,00,000, the stamp duty would be Rs 3,08,000 and the registration fee would be Rs 88,000, totaling Rs 3,96,000.

Which office handles the registration for Kesavalu Street(Nehru Nagar)?

The Virugambakkam Sub Registrar Office handles registrations for Kesavalu Street(Nehru Nagar), located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.