Guideline Value for KESAVARTHINI NAGAR 4TH STREET

Kesavarthini Nagar 4th Street guideline value

The current guideline value of Kesavarthini Nagar 4th Street 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 4th Street has changed

Looking at the historical revisions, the guideline value for Kesavarthini Nagar 4th Street has seen several changes. The 2012 revision set the value at Rs 1,500 per sq.ft, which was a decrease of 33% from the Rs 1,005 per sq.ft recorded in 2017. The 2023 revision increased the value to Rs 1,500 per sq.ft, and the latest revision in 2024 raised it further to Rs 1,650 per sq.ft, marking a 10% increase from the previous year.

There are no figures available for the years 2002, 2003, and 2007 in the register for this street. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%.

Guideline values in Kolathuvancheri

Kolathuvancheri village has a total of 146 streets under the Chennai South Joint I SRO, with guideline values ranging from Rs 660 to Rs 4,600 per sq.ft. The median guideline value for these streets is Rs 1,650 per sq.ft, which is equal to the current guideline value for Kesavarthini Nagar 4th Street.

• Kesavarthini Nagar 3rd Main Street: Rs 1,650 per sq.ft (2024)
• Kesavarthini Nagar 5th Cross Street: Rs 1,650 per sq.ft (2024)
• Kesavarthini Nagar 2nd Street: Rs 1,650 per sq.ft (2024)
• Kesavarthini Nagar 6th Cross Street: Rs 1,650 per sq.ft (2024)
• Kesavarthini Nagar 2nd Main Salai: Rs 1,650 per sq.ft (2024)
• Kesavarthini Nagar 7th Cross Street: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Kesavarthini Nagar 4th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value amounts to Rs 16,50,000. The stamp duty, charged at 7%, would be Rs 1,15,500, while the registration fee at 2% would be Rs 33,000. Together, the total cost for these fees 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 4th Street?

The Kesavarthini Nagar 4th Street 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 Kolathuvancheri

The guideline value plays a crucial role in property transactions in Kolathuvancheri. It serves as a benchmark for determining the minimum value of a property during registration. Buyers and sellers must consider the guideline value when negotiating sale prices, as it directly affects the stamp duty and registration fees.

When a property is bought or sold, the registration office uses the guideline value to calculate the applicable charges. This ensures that all transactions are recorded at a value that reflects the current market conditions as determined by the local authorities.

Frequently asked questions

What is the current guideline value of Kesavarthini Nagar 4th Street?

The current guideline value of Kesavarthini Nagar 4th Street is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Over the years, the guideline value has changed as follows: it was Rs 1,500 per sq.ft in 2012, decreased to Rs 1,005 per sq.ft in 2017, and then increased to Rs 1,500 per sq.ft in 2023. The latest revision in 2024 set it at Rs 1,650 per sq.ft.

What are the other streets in Kolathuvancheri with the same guideline value?

Other streets in Kolathuvancheri that share the same guideline value of Rs 1,650 per sq.ft include Kesavarthini Nagar 3rd Main Street, Kesavarthini Nagar 5th Cross Street, Kesavarthini Nagar 2nd Street, Kesavarthini Nagar 6th Cross Street, Kesavarthini Nagar 2nd Main Salai, and Kesavarthini Nagar 7th Cross Street.

What is the role of the Sub Registrar Office?

The Sub Registrar Office is responsible for the registration of property transactions. It ensures that all transactions are recorded accurately and that the applicable stamp duty and registration fees are collected based on the guideline value.

How are stamp duty and registration fees calculated?

Stamp duty is typically charged at a rate of 7% on the guideline value or the sale price, whichever is higher. The registration fee is charged at 2% of the guideline value. These fees are essential for completing the property registration process.