Guideline Value for Kiruba Nagar

Kiruba Nagar guideline value

The current guideline value of Kiruba Nagar, located in Kathirvedu village under the Ambattur SRO, is Rs 1,300 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class III Type - II.

How the guideline value of Kiruba Nagar has changed

The guideline value for Kiruba Nagar has undergone several revisions over the years. In 2002, the value was set at Rs 49 per sq.ft, which increased to Rs 70 per sq.ft in 2003. Following this, there was a significant rise to Rs 300 per sq.ft in 2007, and then it jumped to Rs 1,200 per sq.ft in 2012. However, there was a decline to Rs 804 per sq.ft in 2017. The value then increased to Rs 1,200 per sq.ft in 2023, before reaching the current value of Rs 1,300 per sq.ft in 2024, marking an 8% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 2,553%. The register has no figures for the years in between the revisions mentioned above.

Guideline values in Kathirvedu

In Kathirvedu, there are 78 streets under the Ambattur SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 6,000 per sq.ft, with a median value of Rs 1,500 per sq.ft. The guideline value for Kiruba Nagar is below this median.

• Kannagi Street: Rs 1,100 per sq.ft (2024)
• K.V.R.Nagar: Rs 2,000 per sq.ft (2024)
• Lakshmi Kandammal Nagar: Rs 2,000 per sq.ft (2024)
• Mahalakshmi Nagar: Rs 1,500 per sq.ft (2024)
• J.P. Nagar Extension: Rs 2,200 per sq.ft (2024)
• J.P. Nagar: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Kiruba 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, leading to a total of Rs 1,17,000. The duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Kiruba Nagar?

The Sub Registrar Office that covers Kiruba Nagar is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Kathirvedu. It serves as the basis for calculating the stamp duty and registration fees, ensuring that these charges are aligned with the official value set by the authorities.

When a property is sold, the guideline value is used to determine the minimum price at which the property can be registered. This ensures transparency and helps prevent undervaluation during property transactions.

Frequently asked questions

What is the current guideline value of Kiruba Nagar?

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

How has the guideline value changed over the years?

The guideline value has seen several changes, starting from Rs 49 per sq.ft in 2002 to the current Rs 1,300 per sq.ft in 2024, reflecting an overall increase of 2,553% over the years.

What is the land classification of Kiruba Nagar?

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

What are the stamp duty and registration fees for property in Kiruba Nagar?

For a property valued at Rs 13,00,000, the stamp duty would be Rs 91,000 and the registration fee would be Rs 26,000, totaling Rs 1,17,000.

Where is the Sub Registrar Office for Kiruba Nagar located?

The Ambattur Sub Registrar Office is located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.