Guideline Value for Cosmas Nagar

Cosmas Nagar guideline value

The current guideline value of Cosmas Nagar, located in Puthagaram village under the Ambattur SRO, is Rs 1,900 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class I Type - I.

How the guideline value of Cosmas Nagar has changed

The guideline value for Cosmas Nagar has seen several revisions over the years. In 2012, the value was Rs 1,800 per sq.ft. This figure decreased to Rs 1,206 per sq.ft in 2017, marking a decline of 33%. However, from 2017 to 2023, there was a significant increase of 49%, bringing the value back up to Rs 1,800 per sq.ft. The most recent revision in 2024 set the guideline value at Rs 1,900 per sq.ft, reflecting a 6% increase from the previous year.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 6%.

Guideline values in Puthagaram

Puthagaram village has a total of 140 streets under the Ambattur SRO, with guideline values ranging from Rs 1,200 to Rs 3,800 per sq.ft. The median guideline value for these streets is Rs 1,900 per sq.ft, which is the same as the current guideline value for Cosmas Nagar.

• Dhanalakshmi Nagar: Rs 1,200 per sq.ft (2024)
• Duraisamy Nagar: Rs 1,876 per sq.ft (2024)
• Egamberaswrer Nagar: Rs 1,900 per sq.ft (2024)
• Elisabeth Nagar: Rs 1,600 per sq.ft (2024)
• Elizabath Nagar Extn: Rs 1,600 per sq.ft (2024)
• Elumalai Nagar: Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in Cosmas Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,900 per sq.ft, the total guideline value would be Rs 19,00,000. The stamp duty, charged at 7%, would amount to Rs 1,33,000, while the registration fee at 2% would be Rs 38,000, bringing the total fees to Rs 1,71,000. 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 further assistance.

Which Sub Registrar Office covers Cosmas Nagar?

The Sub Registrar Office that covers Cosmas Nagar is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. For more information, you can find your SRO.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Puthagaram. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is sold, the guideline value will be compared to the sale price, and the higher of the two will be used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue based on the property's value.

Frequently asked questions

What is the current guideline value of Cosmas Nagar?

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

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,800 per sq.ft in 2012 to Rs 1,206 per sq.ft in 2017, then increased to Rs 1,800 per sq.ft in 2023, and finally to Rs 1,900 per sq.ft in 2024.

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

For a property valued at Rs 19,00,000, the stamp duty would be Rs 1,33,000 and the registration fee would be Rs 38,000, totaling Rs 1,71,000.

Which office handles property registrations in Cosmas Nagar?

The Ambattur Sub Registrar Office handles property registrations for Cosmas Nagar, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

What is the land classification of Cosmas Nagar?

Cosmas Nagar is classified as Residential Class I Type - I, indicating its suitability for residential development.