Guideline Value for Kiran Nagar

Kiran Nagar guideline value

The current guideline value of Kiran Nagar is Rs 150 per sq.ft, effective from 1 July 2024. This area is located in Sengadu village, under the Sriperumpudur SRO, and is classified as Residential Class II Type - I.

How the guideline value of Kiran Nagar has changed

The guideline value for Kiran Nagar has seen several revisions over the years. Starting from the 2007 revision, the value was Rs 30 per sq.ft. It then increased significantly to Rs 150 per sq.ft in the 2012 revision, marking a 400% increase. However, in the 2017 revision, the value dropped to Rs 100 per sq.ft, a decrease of 33% from the previous figure. The 2023 revision maintained the value at Rs 150 per sq.ft, showing no change from the previous year. Finally, the current 2024 revision also holds the value at Rs 150 per sq.ft, reflecting a stable market since 2023.

For the years 2002 and 2003, the register has no figure for Kiran Nagar. The overall change from the 2007 revision to the current 2024 revision shows a substantial increase of 400%.

Guideline values in Sengadu

Sengadu village has a total of 24 streets under the Sriperumpudur SRO carrying a 2024 guideline value ranging from Rs 101 to Rs 500 per sq.ft. Kiran Nagar's 2024 figure of Rs 150 per sq.ft is equal to the median value for the village.

• Karpaga Vinayaga Nagar: Rs 400 per sq.ft (2024)
• Madhuraiveeran Koil Street: Rs 150 per sq.ft (2024)
• Mariyamman Koil Street: Rs 150 per sq.ft (2024)
• Mettu Street: Rs 150 per sq.ft (2024)
• High School Street: Rs 200 per sq.ft (2024)
• Green Valley: Rs 250 per sq.ft (2024)

Stamp duty and registration fee for property in Kiran Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 150 per sq.ft, the total guideline value amounts to Rs 1,50,000. The stamp duty at 7% would be Rs 10,500, and the registration fee at 2% would be Rs 3,000, bringing the total cost for these fees to Rs 13,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kiran Nagar?

The Sub Registrar Office that covers Kiran Nagar is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Sengadu. It is used to determine the stamp duty and registration fees that buyers must pay when acquiring property.

When selling property, the guideline value ensures that the transaction is recorded accurately and fairly. It acts as a benchmark for the value of the property in official records, helping to maintain transparency in property dealings.

Frequently asked questions

What is the current guideline value of Kiran Nagar?

The current guideline value of Kiran Nagar is Rs 150 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 30 per sq.ft in 2007 to Rs 150 per sq.ft in 2012, then decreased to Rs 100 per sq.ft in 2017, and has remained at Rs 150 per sq.ft in 2023 and 2024.

What is the land classification for Kiran Nagar?

Kiran Nagar is classified as Residential Class II Type - I under the current guidelines.

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

The Sub Registrar Office for Kiran Nagar is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.

How is stamp duty calculated for property transactions in Kiran Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 1,50,000, the stamp duty at 7% would be Rs 10,500.