Guideline Value for Kundalakesi Nagar Ganesh Nagar

Kundalakesi Nagar Ganesh Nagar guideline value

The current guideline value of Kundalakesi Nagar Ganesh Nagar is Rs 2,900 per sq.ft, effective from 1 July 2024. This area is located in Selaiyur village and falls under the Selaiyur SRO. The land classification for this street is Residential Special Type - I.

How the guideline value of Kundalakesi Nagar Ganesh Nagar has changed

Over the years, the guideline value for Kundalakesi Nagar Ganesh Nagar has seen several revisions. The 2012 revision set the value at Rs 2,700 per sq.ft, which was a decrease of 33% from Rs 1,809 per sq.ft in the 2017 revision. The value remained at Rs 2,700 per sq.ft until the 2023 revision, which increased it to Rs 2,700 per sq.ft. The most recent revision in 2024 raised the guideline value to Rs 2,900 per sq.ft, marking a 7% increase from the previous year.

From 2017 to 2023, the guideline value increased by 49%. Overall, from the 2012 revision to the 2024 revision, there has been a 7% increase in the guideline value. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Selaiyur

In Selaiyur, there are 478 streets under the Selaiyur SRO that carry a 2024 guideline value ranging from Rs 850 to Rs 6,500 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, placing Kundalakesi Nagar Ganesh Nagar's 2024 figure above that median.

• Kulasekeran 4th Cross Street: Rs 1,300 per sq.ft (2024)
• Kulasekeran 3rd Cross Street: Rs 1,300 per sq.ft (2024)
• Kulasekeran 2nd Cross Street: Rs 1,300 per sq.ft (2024)
• Kulasekeran 1st Cross Street: Rs 1,300 per sq.ft (2024)
• Kulasekaran Street 4th Street: Rs 1,300 per sq.ft (2024)
• Kulasekaran Street 3rd Street: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Kundalakesi Nagar Ganesh Nagar

For a 1,000 sq.ft plot at the current rate of Rs 2,900 per sq.ft, the guideline value amounts to Rs 29,00,000. The stamp duty at 7% would be Rs 2,03,000, and the registration fee at 2% would be Rs 58,000, totaling Rs 2,61,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kundalakesi Nagar Ganesh Nagar?

The Sub Registrar Office that covers Kundalakesi Nagar Ganesh 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 Selaiyur

The guideline value is a crucial factor in property transactions in Selaiyur. It serves as a benchmark for determining the minimum value of a property for registration purposes. When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees applicable to the transaction.

During registration, if the sale price is higher than the guideline value, the duty is charged on the sale price instead. This ensures that the government receives the appropriate fees based on the actual transaction value or the guideline value, whichever is greater.

Frequently asked questions

What is the current guideline value of Kundalakesi Nagar Ganesh Nagar?

The current guideline value of Kundalakesi Nagar Ganesh Nagar is Rs 2,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions, with the latest being Rs 2,900 per sq.ft in 2024, an increase from Rs 2,700 per sq.ft in 2023. The value has increased by 49% from Rs 1,809 per sq.ft in 2017 to 2023.

What is the land classification for Kundalakesi Nagar Ganesh Nagar?

The land classification for Kundalakesi Nagar Ganesh Nagar is Residential Special Type - I. This classification is important for determining the use and regulations applicable to the property.

Where can I find the Selaiyur Sub Registrar Office?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073. This office handles property registrations in the area.

How is stamp duty calculated in Kundalakesi Nagar Ganesh Nagar?

Stamp duty in Kundalakesi Nagar Ganesh Nagar is calculated based on the guideline value or the sale price, whichever is higher. For example, if the guideline value is Rs 29,00,000, the stamp duty at 7% would be Rs 2,03,000.