Guideline Value for KAZHAIKOOTHU NAGAR

Kazhaikoothu Nagar guideline value

The current guideline value of Kazhaikoothu Nagar, located in Jelandianpettai village under the Chennai South Joint I SRO, is Rs 2,200 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class II Type - I land classification.

How the guideline value of Kazhaikoothu Nagar has changed

The guideline value for Kazhaikoothu Nagar has undergone several revisions over the years. The 2012 revision set the value at Rs 2,000 per sq.ft, which then decreased to Rs 1,340 per sq.ft in the 2017 revision. However, the value increased to Rs 2,000 per sq.ft in 2023, and the latest revision in 2024 has raised it to Rs 2,200 per sq.ft. Notably, there are no figures available for the years 2002, 2003, and 2007 for this street.

From 2012 to 2017, the guideline value decreased by 33%. However, it saw a significant increase of 49% from 2017 to 2023. The overall change from 2012 to 2024 is an increase of 10%.

Guideline values in Jelandianpettai

In Jelandianpettai village, there are 248 streets under the Chennai South Joint I SRO with a 2024 guideline value ranging from Rs 1,320 to Rs 7,500 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, which is the same as the current guideline value for Kazhaikoothu Nagar.

• Kayithamillath 1st Cross Street: Rs 2,200 per sq.ft (2024)
• Kaveri Street: Rs 2,200 per sq.ft (2024)
• Kattapomman Street: Rs 2,200 per sq.ft (2024)
• Kovalan Street: Rs 2,200 per sq.ft (2024)
• Krishna Nagar Main Road: Rs 2,750 per sq.ft (2024)
• Krishnan Street: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Kazhaikoothu Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, making the total cost for these fees Rs 1,98,000. 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 Kazhaikoothu Nagar?

Kazhaikoothu Nagar falls under the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035. You can find your SRO for more information.

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

The guideline value is a critical reference point used during the registration of property transactions in Jelandianpettai. It helps in determining the stamp duty and registration fees that are applicable when a property is bought or sold.

When engaging in property transactions, it is essential to consider the guideline value as it ensures compliance with the legal requirements for registration. The fees calculated based on the guideline value can significantly impact the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Kazhaikoothu Nagar?

The current guideline value of Kazhaikoothu Nagar is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several changes, with the most recent increase being from Rs 2,000 per sq.ft in 2023 to Rs 2,200 per sq.ft in 2024. The value also increased by 49% from 2017 to 2023.

What is the land classification of Kazhaikoothu Nagar?

Kazhaikoothu Nagar is classified under Residential Class II Type - I, indicating its residential purpose and zoning.

Where can I find the Sub Registrar Office for Kazhaikoothu Nagar?

The Sub Registrar Office covering Kazhaikoothu Nagar is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.

How is stamp duty calculated for properties in Kazhaikoothu Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 at a rate of 7%.