Guideline Value for Kirubha Nagar

Kirubha Nagar guideline value

The current guideline value of Kirubha Nagar is Rs 850 per sq.ft, effective from 1 July 2024. This area is located in Chembakkam village under the Selaiyur SRO and is classified as Residential Class IV Type - II.

How the guideline value of Kirubha Nagar has changed

Over the years, the guideline value of Kirubha Nagar has seen several revisions. The earliest recorded figure is from 2007, with a value of Rs 250 per sq.ft. This increased to Rs 700 per sq.ft in 2012, but then dropped to Rs 469 per sq.ft in 2017. The 2023 revision saw a significant increase to Rs 800 per sq.ft, followed by another rise to Rs 850 per sq.ft in 2024. The register has no figures for the years 2002 and 2003 for this street.

From 2007 to 2024, the overall change in guideline value is +240%. Notably, the increase from 2017 to 2023 was +71%, while the jump from 2023 to 2024 was +6%. The fluctuation between 2012 and 2017 was a decrease of -33%, and the rise from 2007 to 2012 was +180%.

Guideline values in Chembakkam

In Chembakkam, there are 472 streets under the Selaiyur SRO that carry a 2024 guideline value ranging from Rs 850 to Rs 6,700 per sq.ft, with a median value of Rs 2,200 per sq.ft. The guideline value of Kirubha Nagar is below this median.

• Kathavarayan Nagar: Rs 950 per sq.ft (2024)
• Karunanidhi Main Road: Rs 1,600 per sq.ft (2024)
• Krishna Nagar: Rs 1,600 per sq.ft (2024)
• Karpagam Avenue: Rs 1,900 per sq.ft (2024)
• K.A.P. Viswanathan Street: Rs 2,400 per sq.ft (2024)
• Kanagaraja Street: Rs 950 per sq.ft (2024)

Stamp duty and registration fee for property in Kirubha Nagar

For a 1,000 sq.ft plot at the current rate, the guideline value amounts to Rs 8,50,000. The stamp duty at 7% would be Rs 59,500, and the registration fee at 2% would be Rs 17,000, totaling Rs 76,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kirubha Nagar?

The Sub Registrar Office that covers Kirubha Nagar is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Chembakkam. It serves as a benchmark for determining the minimum value of the property for registration purposes, ensuring that the government receives appropriate revenue through stamp duties and registration fees.

When a property is sold, the sale price or the guideline value, whichever is higher, is used to calculate the applicable duties and fees. This ensures that transactions are transparent and reflect the true value of the property being exchanged.

Frequently asked questions

What is the current guideline value of Kirubha Nagar?

The current guideline value of Kirubha Nagar is Rs 850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 250 per sq.ft in 2007 to Rs 850 per sq.ft in 2024, showing an overall increase of +240% over the years.

What are the stamp duty and registration fees for properties in Kirubha Nagar?

For a 1,000 sq.ft plot, the total stamp duty and registration fees would amount to Rs 76,500, calculated based on the current guideline value of Rs 8,50,000.

Which office should I approach for registration in Kirubha Nagar?

The Selaiyur Sub Registrar Office is responsible for registration in Kirubha Nagar, located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.

What is the significance of the guideline value in property transactions?

The guideline value is used to determine the minimum value for property registration, ensuring that the appropriate stamp duties and registration fees are collected based on either the sale price or the guideline value, whichever is higher.