Guideline Value for Kirupa Colony

Kirupa Colony guideline value

The current guideline value of Kirupa Colony, located in Kodambakkam village under the Ashok Nagar SRO, is Rs 11,000 per sq.ft, effective from 1 July 2024. This area is classified as Commercial Special Type - I.

How the guideline value of Kirupa Colony has changed

The guideline value for Kirupa Colony has seen several revisions over the years. The earliest recorded figure is from 2007, where the guideline value was Rs 3,800 per sq.ft. This value increased significantly to Rs 10,000 per sq.ft in 2012, marking a change of +163%. The value remained unchanged at Rs 10,000 per sq.ft until the 2023 revision, which also did not alter the figure. However, in 2024, the guideline value increased by 10% to Rs 11,000 per sq.ft.

Overall, from 2007 to 2024, the guideline value has increased by +189%. It is important to note that there are no recorded figures for the years 2002, 2003, and 2017 for this street.

Guideline values in Kodambakkam

In Kodambakkam, there are 1,031 streets under the Ashok Nagar SRO, with the 2024 guideline values ranging from Rs 2,200 to Rs 11,000 per sq.ft. The median guideline value in this area is Rs 4,900 per sq.ft, placing Kirupa Colony's 2024 figure above that median.

• K.K.Nagar 10th Sector 54th Street: Rs 7,000 per sq.ft (2024)
• K.K.Nagar 10th Sector 56th Street: Rs 7,000 per sq.ft (2024)
• K.K.Nagar 10th Sector 57th Street: Rs 7,000 per sq.ft (2024)
• K.K.Nagar 10th Sector 58th Street: Rs 7,000 per sq.ft (2024)
• K.K.Nagar 10th Sector 59th Street: Rs 7,000 per sq.ft (2024)
• K.K.Nagar 10th Sector 60th Street: Rs 7,000 per sq.ft (2024)

Stamp duty and registration fee for property in Kirupa Colony

For a 1,000 sq.ft plot at the current guideline value of Rs 11,000 per sq.ft, the total guideline value amounts to Rs 1,10,00,000. The stamp duty at 7% would be Rs 7,70,000, and the registration fee at 2% would be Rs 2,20,000, bringing the total to Rs 9,90,000. It is important to note that duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kirupa Colony?

The Sub Registrar Office that covers Kirupa Colony is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more information.

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

The guideline value plays a crucial role when buying or selling property in Kodambakkam. It serves as a benchmark for determining the minimum value of a property for registration purposes. Buyers and sellers must consider the guideline value to ensure compliance with legal requirements during the transaction.

When registering a property, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Kirupa Colony?

The current guideline value of Kirupa Colony is Rs 11,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 3,800 per sq.ft in 2007 to Rs 11,000 per sq.ft in 2024, marking an overall increase of +189%.

What is the classification of land in Kirupa Colony?

The land in Kirupa Colony is classified as Commercial Special Type - I.

What are the stamp duty rates for properties in Kirupa Colony?

The stamp duty for properties in Kirupa Colony is charged at 7% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Kirupa Colony?

The Sub Registrar Office for Kirupa Colony is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.