Guideline Value for KO.SI.MANI SALAI

Ko.Si.Mani Salai guideline value

The current guideline value of Ko.Si.Mani Salai in Neelankarai village, under the Neelankarai SRO, is Rs 2,200 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class II Type - III land classification.

How the guideline value of Ko.Si.Mani Salai has changed

Over the years, the guideline value of Ko.Si.Mani Salai has seen several revisions. The 2012 revision set the value at Rs 2,000 per sq.ft, which decreased to Rs 1,340 per sq.ft in the 2017 revision. However, the value increased significantly to Rs 2,000 per sq.ft in 2023, and then to Rs 2,200 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

From the 2017 revision to 2023, there was a notable increase of 49%. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Neelankarai

In Neelankarai, there are 377 streets under the Neelankarai SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 10,500 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, which is equal to the current guideline value of Ko.Si.Mani Salai.

• Kovi Mani Salai: Rs 2,200 per sq.ft (2024)
• Kumaraguru Avenue 10th Cross Street: Rs 1,700 per sq.ft (2024)
• Kumaraguru Avenue 11th Cross Street: Rs 1,700 per sq.ft (2024)
• Kumaraguru Avenue 1st Cross Street: Rs 1,700 per sq.ft (2024)
• Kumaraguru Avenue 2nd Cross Street: Rs 1,700 per sq.ft (2024)
• Kumaraguru Avenue 3rd Cross Street: Rs 1,700 per sq.ft (2024)

Stamp duty and registration fee for property in Ko.Si.Mani Salai

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total cost to Rs 1,98,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Ko.Si.Mani Salai?

The Sub Registrar Office that covers Ko.Si.Mani Salai is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai. You can find your SRO for additional information.

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

The guideline value is a critical factor when registering a property in Neelankarai. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold or purchased, the registration office uses the guideline value to calculate the applicable fees. This ensures that the fees are based on a standardized value, which is essential for maintaining transparency in property transactions.

Frequently asked questions

What is the current guideline value of Ko.Si.Mani Salai?

The current guideline value of Ko.Si.Mani Salai 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 changed from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then increased to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,200 per sq.ft in 2024.

What are the stamp duty and registration fees for properties in Ko.Si.Mani Salai?

For a 1,000 sq.ft property, the total guideline value is Rs 22,00,000. The stamp duty would be Rs 1,54,000, and the registration fee would be Rs 44,000, totaling Rs 1,98,000.

Which Sub Registrar Office handles properties in Ko.Si.Mani Salai?

The Neelankarai Sub Registrar Office handles properties in Ko.Si.Mani Salai, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai.

What is the land classification of Ko.Si.Mani Salai?

Ko.Si.Mani Salai is classified as Residential Class II Type - III, which indicates its suitability for residential development.