Guideline Value for Kilbarns Nagar

Kilbarns Nagar guideline value

The current guideline value of Kilbarns Nagar 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 has changed

The guideline value for Kilbarns Nagar has seen several revisions over the years. In 2012, the value was set at Rs 1,200 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 2023, and most recently to Rs 1,600 per sq.ft in the 2024 revision, marking a 7% increase from the previous year.

From 2012 to 2017, the value decreased by 16%, but from 2017 to 2023, it rose by 49%. Overall, the guideline value increased by 33% from 2012 to 2024. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Madhavaram

In Madhavaram, there are 1,946 streets under the Madhavaram SRO, with a 2024 guideline value 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 is equal to the current guideline value of Kilbarns Nagar.

• Kilbarns Nagar Extension: 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

For a 1,000 sq.ft plot at the current guideline value of Rs 1,600 per sq.ft, the total guideline value would be Rs 16,00,000. The stamp duty at 7% would amount to Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, making the total cost for these fees Rs 1,44,000. 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 precise calculations.

Which Sub Registrar Office covers Kilbarns Nagar?

The Sub Registrar Office covering Kilbarns Nagar 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 crucial factor during the registration of property transactions in Madhavaram. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property.

When a property is registered, the authorities will consider the guideline value to assess the applicable fees. This ensures transparency and consistency in property transactions within the region.

Frequently asked questions

What is the current guideline value of Kilbarns Nagar?

The current guideline value of Kilbarns Nagar 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 1,005 per sq.ft in 2017, then increased to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,600 per sq.ft in 2024.

What is the land classification of Kilbarns Nagar?

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

Where can I find the Sub Registrar Office for Kilbarns Nagar?

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

How is the stamp duty calculated in Kilbarns Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 16,00,000, the stamp duty would be Rs 1,12,000 at a rate of 7%.