Guideline Value for Co-operative Nagar

Co-operative Nagar guideline value

The current guideline value of Co-operative Nagar is Rs 1,000 per sq.ft, effective from 1 July 2024. This area is located in Vadaperumbakkam village under the Redhills SRO, classified as Residential Special Type - I.

How the guideline value of Co-operative Nagar has changed

Over the years, the guideline value of Co-operative Nagar has seen several revisions. The earliest recorded value in the register is from 2003, which was Rs 44 per sq.ft. This increased significantly to Rs 600 per sq.ft in 2007, marking a 1264% rise. The value then saw another increase to Rs 1,000 per sq.ft in 2012, resulting in a 67% increase. However, from 2012 to 2017, the value decreased by 33% to Rs 670 per sq.ft. The subsequent revision in 2023 brought the value back to Rs 1,000 per sq.ft, with no change from the 2024 revision.

From 2017 to 2023, there was a notable increase of 49%. Overall, from 2003 to 2024, the guideline value has increased by 2173%, with the current value reflecting stability since 2023.

Guideline values in Vadaperumbakkam

In Vadaperumbakkam, there are 77 streets under the Redhills SRO that have a 2024 guideline value ranging from Rs 1,000 to Rs 1,300 per sq.ft, with a median value of Rs 1,003 per sq.ft. Co-operative Nagar's current guideline value is below this median.

• C.K. Madhavan Nagar Extension: Rs 1,004 per sq.ft (2024)
• Cherriyan Nagar: Rs 1,006 per sq.ft (2024)
• Dhanalakshmi Nagar: Rs 1,006 per sq.ft (2024)
• Chelliyamman Nagar: Rs 1,003 per sq.ft (2024)
• Buneshwari Nagar: Rs 1,006 per sq.ft (2024)
• Bhuvaneswari Avenue: Rs 1,004 per sq.ft (2024)

Stamp duty and registration fee for property in Co-operative Nagar

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

Which Sub Registrar Office covers Co-operative Nagar?

The Sub Registrar Office that covers Co-operative Nagar is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Vadaperumbakkam. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations during the transaction process.

When a property is bought or sold, the guideline value influences the calculation of stamp duty and registration fees. These fees are based on the guideline value or the sale price, whichever is higher, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Co-operative Nagar?

The current guideline value of Co-operative Nagar is Rs 1,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 44 per sq.ft in 2003 to Rs 1,000 per sq.ft in 2024, reflecting an overall increase of 2173% over this period.

What is the land classification of Co-operative Nagar?

Co-operative Nagar is classified as Residential Special Type - I.

Where can I find the Redhills Sub Registrar Office?

The Redhills Sub Registrar Office is located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

How is the stamp duty calculated for property transactions in Co-operative Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current guideline value, the total fees would amount to Rs 90,000.