Guideline Value for Kutty Nagar

Kutty Nagar guideline value

The current guideline value of Kutty Nagar is Rs 300 per sq.ft, effective from 1 July 2024. This area is located in Kilay village and falls under the Sriperumpudur SRO. The land classification for this street is Residential Class I Type - I.

How the guideline value of Kutty Nagar has changed

The guideline value for Kutty Nagar has undergone several revisions over the years. The earliest recorded figure is from 2007, where it was Rs 60 per sq.ft. This increased significantly to Rs 300 per sq.ft in 2012, marking a 400% rise. However, it then decreased to Rs 201 per sq.ft in 2017, which is a decline of 33%. The guideline value remained at Rs 300 per sq.ft from 2012 to 2023, and it has stayed the same from 2023 to 2024, showing no change in this period.

From 2017 to 2023, the guideline value increased by 49%. Overall, from 2007 to 2024, the guideline value has increased by 400%. It is important to note that there are no figures available for the years 2002 and 2003 for this street.

Guideline values in Kilay

Kilay village has a total of 31 streets under the Sriperumpudur SRO that carry a 2024 guideline value ranging from Rs 100 to Rs 400 per sq.ft. The median guideline value for these streets is Rs 300 per sq.ft, which is the same as the 2024 figure for Kutty Nagar.

• Kujalamba Colony: Rs 300 per sq.ft (2024)
• Lingeswarar Nagar: Rs 200 per sq.ft (2024)
• Lingeswar Nagar: Rs 200 per sq.ft (2024)
• Marathamannam koil st: Rs 300 per sq.ft (2024)
• M.G.R Street: Rs 150 per sq.ft (2024)
• J.P. Nagar: Rs 200 per sq.ft (2024)

Stamp duty and registration fee for property in Kutty Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 300 per sq.ft, the total guideline value amounts to Rs 3,00,000. The stamp duty at 7% would be Rs 21,000, and the registration fee at 2% would be Rs 6,000, making the total cost for these fees Rs 27,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kutty Nagar?

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

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

The guideline value is a crucial factor in the registration process when buying or selling property in Kilay. It serves as a benchmark for determining the minimum price at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees.

When a property transaction occurs, the guideline value is compared to the sale price. The higher of the two values is used to calculate the stamp duty and registration fees, which are mandatory costs associated with property transactions in Tamil Nadu.

Frequently asked questions

What is the current guideline value of Kutty Nagar?

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

How has the guideline value changed over the years?

The guideline value has changed from Rs 60 per sq.ft in 2007 to Rs 300 per sq.ft in 2012, then to Rs 201 per sq.ft in 2017, and has remained at Rs 300 per sq.ft from 2012 to 2024.

What is the median guideline value for streets in Kilay?

The median guideline value for the 31 streets in Kilay under the Sriperumpudur SRO is Rs 300 per sq.ft, which is also the 2024 figure for Kutty Nagar.

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

For a plot of 1,000 sq.ft at the current guideline value, the total guideline value is Rs 3,00,000. The stamp duty would be Rs 21,000, and the registration fee would be Rs 6,000, totaling Rs 27,000.

Which office handles property registration for Kutty Nagar?

The Sriperumpudur Sub Registrar Office handles property registration for Kutty Nagar, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.