Guideline Value for Kesavan Nagar

Kesavan Nagar guideline value

The current guideline value of Kesavan Nagar, located in Madhavaram village, falls under the Madhavaram SRO and is classified as Residential Class III Type - I. As of the 2024 revision, the guideline value is Rs 1,300 per sq.ft, effective from 1 July 2024.

How the guideline value of Kesavan Nagar has changed

Looking at the historical revisions, the guideline value for Kesavan Nagar was Rs 1,200 per sq.ft in 2023, which marked an increase of 8% from the previous year. In 2017, the value was significantly lower at Rs 804 per sq.ft, reflecting a substantial increase of 49% by 2023. The 2012 revision also had a guideline value of Rs 1,200 per sq.ft, showing a decrease of 33% when compared to 2017.

Overall, from 2012 to 2024, the guideline value has seen a slight increase of 8%. It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Madhavaram

In Madhavaram, there are a total of 1,946 streets under the Madhavaram SRO that carry a 2024 guideline value ranging from Rs 1,300 to Rs 7,500 per sq.ft, with a median value of Rs 1,600 per sq.ft. The guideline value of Rs 1,300 per sq.ft for Kesavan Nagar is below this median.

• Kesava Perumal Avenue, Sarathy Nagar (Ward-26): Rs 1,300 per sq.ft (2024)
• KGL Nagar (Ward-30): Rs 1,300 per sq.ft (2024)
• Keena Shop St (Ward No.22): Rs 1,300 per sq.ft (2024)
• Kilbarns Nagar: Rs 1,600 per sq.ft (2024)
• Kilbarns Nagar Extension: Rs 1,600 per sq.ft (2024)
• Kilburn Nagar Roads (Ward No.11): Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in Kesavan Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value amounts to Rs 13,00,000. The stamp duty at 7% would be Rs 91,000, and the registration fee at 2% would be Rs 26,000, bringing the total cost for these fees to Rs 1,17,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kesavan Nagar?

The Kesavan Nagar area is covered by the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more details.

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

The guideline value plays a crucial role during property transactions in Madhavaram. When buying or selling property, this value is used to determine the stamp duty and registration fees that need to be paid at the time of registration. It ensures that the transaction is recorded at a fair value as per the government norms.

At the time of registration, the buyer must pay the stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This process helps maintain transparency and standardization in property transactions.

Frequently asked questions

What is the current guideline value of Kesavan Nagar?

The current guideline value of Kesavan Nagar is Rs 1,300 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2023 to Rs 1,300 per sq.ft in 2024, which is an increase of 8%. It was Rs 804 per sq.ft in 2017, showing a 49% increase by 2023.

What is the land classification for Kesavan Nagar?

Kesavan Nagar is classified as Residential Class III Type - I, which indicates its zoning for residential purposes.

Where can I find the Madhavaram Sub Registrar Office?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

How do I calculate stamp duty and registration fees?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 13,00,000, the stamp duty at 7% would be Rs 91,000, and the registration fee at 2% would be Rs 26,000.