Guideline Value for Kesavan Nagar

Kesavan Nagar guideline value

The current guideline value of Kesavan Nagar, located in Peerklankaranai village, is Rs 1,650 per sq.ft as per the 2024 revision effective from 1 July 2024. This area falls under the Tambaram Joint 1 SRO and is classified as Residential Class I Type - II.

How the guideline value of Kesavan Nagar has changed

The guideline value for Kesavan Nagar has seen several revisions over the years. In 2012, the value was set at Rs 1,500 per sq.ft, which then decreased to Rs 1,005 per sq.ft in 2017. Following this, the value increased significantly to Rs 1,500 per sq.ft in the 2023 revision, and further rose to Rs 1,650 per sq.ft in 2024, marking a 10% increase from the previous year.

From 2017 to 2023, there was a notable increase of 49%, while the 2012 to 2017 period experienced a decline of 33%. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Peerklankaranai

In Peerklankaranai village, there are 322 streets under the Tambaram Joint 1 SRO, with guideline values ranging from Rs 880 to Rs 4,400 per sq.ft. The median guideline value is Rs 1,650 per sq.ft, which aligns with the current value of Kesavan Nagar.

• Kirubanandavariyar Street: Rs 1,100 per sq.ft (2024)
• K.K. Nagar: Rs 2,200 per sq.ft (2024)
• K.K. Nagar Roja Street: Rs 1,320 per sq.ft (2024)
• Kaveri Street: Rs 2,200 per sq.ft (2024)
• Kattabomman Street: Rs 1,320 per sq.ft (2024)
• Kattabomman 5th Cross st: Rs 880 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 1,650 per sq.ft, the total guideline value would be Rs 16,50,000. The stamp duty at 7% would amount to Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total to Rs 1,48,500. 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 Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor when buying or selling property in Peerklankaranai. It serves as a benchmark for determining the minimum value at which a property can be registered. This value is used to calculate the stamp duty and registration fees, which are mandatory during property transactions.

When a property is sold, the guideline value helps ensure that the transaction is recorded at a fair value, preventing undervaluation. Buyers and sellers should be aware of the current guideline value to facilitate a smooth registration process.

Frequently asked questions

What is the current guideline value of Kesavan Nagar?

The current guideline value of Kesavan Nagar is Rs 1,650 per sq.ft as per the 2024 revision effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, then increased to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,650 per sq.ft in 2024.

What is the stamp duty for property in Kesavan Nagar?

The stamp duty for property in Kesavan Nagar is 7% of the guideline value or sale price, whichever is higher. For example, on a property valued at Rs 16,50,000, the stamp duty would be Rs 1,15,500.

Which Sub Registrar Office covers Kesavan Nagar?

The Tambaram Joint 1 Sub Registrar Office covers Kesavan Nagar, located at No.26, Mes Road, East Tambaram, Chennai-600059.

What is the land classification of Kesavan Nagar?

Kesavan Nagar is classified as Residential Class I Type - II, indicating its suitability for residential development.