Guideline Value for Kilbarns Nagar Extension

Kilbarns Nagar Extension guideline value

The current guideline value of Kilbarns Nagar Extension is Rs 1,600 per sq.ft, effective from 1 July 2024. This area is located in Madhavaram village, under the Madhavaram SRO, and is classified as Residential Class II Type - I.

How the guideline value of Kilbarns Nagar Extension has changed

The guideline value for Kilbarns Nagar Extension has seen several revisions over the years. The 2012 revision set the value at Rs 1,200 per sq.ft, which then decreased to Rs 1,005 per sq.ft in 2017. However, from 2017 to 2023, the value increased significantly to Rs 1,500 per sq.ft, marking a 49% rise. The most recent revision in 2024 raised the value further to Rs 1,600 per sq.ft, reflecting a 7% increase from the previous year.

There are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 33%.

Guideline values in Madhavaram

Madhavaram village has a total of 1946 streets under the Madhavaram SRO, with the 2024 guideline values ranging from Rs 1,300 to Rs 7,500 per sq.ft. The median value for these streets is Rs 1,600 per sq.ft, which aligns with the current guideline value for Kilbarns Nagar Extension.

• Kilbarns Nagar: Rs 1,600 per sq.ft (2024)
• Kilburn Nagar Roads ( Ward No.11 ): Rs 1,600 per sq.ft (2024)
• Kilburn Nagar (Ward-11): Rs 1,600 per sq.ft (2024)
• KGL Nagar (Ward-30): Rs 1,300 per sq.ft (2024)
• Kittu Thottam (Ward-7): Rs 1,300 per sq.ft (2024)
• Kesava Perumal Avenue, Sarathy Nagar (Ward-26): Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Kilbarns Nagar Extension

For a 1,000 sq.ft plot at the current guideline value of Rs 1,600 per sq.ft, the total guideline value amounts to Rs 16,00,000. The stamp duty is charged at 7%, which totals Rs 1,12,000, while the registration fee is 2%, amounting to Rs 32,000. Therefore, the total cost for stamp duty and registration fees would be Rs 1,44,000. Please note that duty is charged on the higher of the guideline value and the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Kilbarns Nagar Extension?

The Sub Registrar Office that covers Kilbarns Nagar Extension is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

The guideline value is a critical factor in the registration of property transactions in Madhavaram. It determines the minimum value at which properties can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling a property, the guideline value serves as a benchmark. The stamp duty is calculated based on the guideline value or the sale price, whichever is higher, ensuring that the transaction is accurately valued for legal and taxation purposes.

Frequently asked questions

What is the current guideline value of Kilbarns Nagar Extension?

The current guideline value of Kilbarns Nagar Extension is Rs 1,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2012 to Rs 1,600 per sq.ft in 2024, reflecting an overall increase of 33% over this period.

What is the stamp duty rate for properties in Kilbarns Nagar Extension?

The stamp duty rate for properties in Kilbarns Nagar Extension is 7% of the guideline value or the sale price, whichever is higher.

Where is the Madhavaram Sub Registrar Office located?

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

Are there other streets with the same guideline value in Madhavaram?

Yes, there are several other streets in Madhavaram that share the same guideline value of Rs 1,600 per sq.ft, including Kilbarns Nagar and Kilburn Nagar Roads (Ward No.11).