Guideline Value for KESAVARTHINI NAGAR 1ST MAIN ROAD

Kesavarthini Nagar 1st Main Road guideline value

The current guideline value of Kesavarthini Nagar 1st Main Road is Rs 1,650 per sq.ft, effective from 1 July 2024. This street is located in Kolathuvancheri village and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Class III Type - I.

How the guideline value of Kesavarthini Nagar 1st Main Road has changed

Looking at the revisions, the guideline value for Kesavarthini Nagar 1st Main Road has seen several changes over the years. The 2012 revision set the value at Rs 1,500 per sq.ft, which then decreased to Rs 1,005 per sq.ft in the 2017 revision. However, from 2017 to 2023, there was a significant increase of 49%, bringing the value up to Rs 1,500 per sq.ft. The most recent revision in 2024 has further increased the guideline value to Rs 1,650 per sq.ft, marking a 10% rise from the previous year.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Kolathuvancheri

In Kolathuvancheri, there are 146 streets under the Chennai South Joint I SRO that have a guideline value for 2024, ranging from Rs 660 to Rs 4,600 per sq.ft. The median guideline value is Rs 1,650 per sq.ft, which is equal to the current value of Kesavarthini Nagar 1st Main Road.

• Kesavarthini Nagar 1st Cross Street: Rs 1,650 per sq.ft (2024)
• Kesavarthini Nagar 1st Street: Rs 1,650 per sq.ft (2024)
• Kesavarthini Nagar 10th Cross Street: Rs 1,650 per sq.ft (2024)
• Kesavarthini Nagar 2nd Cross Street: Rs 1,650 per sq.ft (2024)
• Kesavarthini Nagar: Rs 2,200 per sq.ft (2024)
• Kesavarthini Nagar 2nd Main Salai: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Kesavarthini Nagar 1st Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value would be Rs 16,50,000. The stamp duty at 7% would amount to Rs 1,15,500, while the registration fee at 2% would be Rs 33,000. Together, the total cost for stamp duty and registration would be Rs 1,48,500. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kesavarthini Nagar 1st Main Road?

The Sub Registrar Office that covers Kesavarthini Nagar 1st Main Road is 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 Kolathuvancheri

The guideline value is a crucial factor when buying or selling property in Kolathuvancheri. It is used to determine the stamp duty and registration fees that need to be paid during the transaction. Buyers must be aware that the stamp duty is calculated based on the higher of the guideline value or the sale price, ensuring that the government receives its due revenue from property transactions.

When registering a property, the guideline value helps in establishing a legal framework for the transaction, ensuring transparency and fairness in the process. It is essential for both buyers and sellers to understand the guideline value to avoid any discrepancies during registration.

Frequently asked questions

What is the current guideline value of Kesavarthini Nagar 1st Main Road?

The current guideline value of Kesavarthini Nagar 1st Main Road is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, then increased to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,650 per sq.ft in 2024.

What is the median guideline value in Kolathuvancheri?

The median guideline value in Kolathuvancheri is Rs 1,650 per sq.ft, which is the same as the current value for Kesavarthini Nagar 1st Main Road.

What are the registration fees for property transactions?

The registration fees are calculated based on the guideline value, with a stamp duty of 7% and a registration fee of 2% applicable on the higher of the guideline value or the sale price.

Where can I find the Sub Registrar Office for Kesavarthini Nagar 1st Main Road?

The Sub Registrar Office for Kesavarthini Nagar 1st Main Road is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.