Guideline Value for KODAMBAKKAM HIGH ROAD

Kodambakkam High Road guideline value

The current guideline value of Kodambakkam High Road is Rs 22,000 per sq.ft, effective from 1 July 2024. This road is located in Tnagar village and falls under the Thiyagaraya nagar SRO. The land classification for this area is Commercial Special Type - II.

How the guideline value of Kodambakkam High Road has changed

The guideline value has seen significant changes over the years. In the 2002 revision, the value was Rs 2,137 per sq.ft. This increased to Rs 2,372 per sq.ft in 2003, followed by a rise to Rs 3,000 per sq.ft in 2007. By 2012, the value was Rs 20,000 per sq.ft, but it decreased to Rs 13,400 per sq.ft in 2017. The 2023 revision marked a notable increase to Rs 20,000 per sq.ft, and the latest revision in 2024 has set it at Rs 22,000 per sq.ft.

From 2017 to 2023, the guideline value increased by 49%, while from 2023 to 2024, it rose by 10%. The most substantial increase occurred from 2007 to 2012, with a 567% rise. Overall, from 2002 to 2024, the guideline value has increased by 929%. There are no figures available for any other revisions for this street.

Guideline values in Tnagar

In Tnagar, there are 262 streets under the Thiyagaraya nagar SRO with a 2024 guideline value ranging from Rs 4,400 to Rs 27,500 per sq.ft. The median value is Rs 11,000 per sq.ft, making the guideline value for Kodambakkam High Road above the median.

• Kolamani Amman Koil Street: Rs 6,600 per sq.ft (2024)
• Krishnabai Street: Rs 11,000 per sq.ft (2024)
• Krishnaiah Street (Krishna Nair Street): Rs 13,200 per sq.ft (2024)
• Krishnamachari Street: Rs 7,700 per sq.ft (2024)
• Krishnan Street: Rs 7,700 per sq.ft (2024)
• Krishna Street: Rs 14,300 per sq.ft (2024)

Stamp duty and registration fee for property in Kodambakkam High Road

For a 1,000 sq.ft plot at the current rate of Rs 22,000 per sq.ft, the guideline value amounts to Rs 2,20,00,000. The stamp duty at 7% would be Rs 15,40,000, and the registration fee at 2% would be Rs 4,40,000, totaling Rs 19,80,000. 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 information.

Which Sub Registrar Office covers Kodambakkam High Road?

The Kodambakkam High Road is covered by the Thiyagaraya nagar Sub Registrar Office, located at 27/14, Vetnari Hospital Road, Panpet, Nandhanam, Chennai-35. You can find your SRO for more details.

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

The guideline value is a crucial factor in property transactions, as it determines the minimum value at which a property can be registered. When buying or selling property in Tnagar, the guideline value is used to calculate the stamp duty and registration fees, ensuring compliance with local regulations.

It is essential for buyers and sellers to be aware of the current guideline value, as it directly impacts the financial aspects of property transfer. This value is regularly updated to reflect changes in the real estate market and local regulations.

Frequently asked questions

What is the current guideline value of Kodambakkam High Road?

The current guideline value of Kodambakkam High Road is Rs 22,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, starting from Rs 2,137 per sq.ft in 2002 to Rs 22,000 per sq.ft in 2024, reflecting an overall increase of 929% over this period.

What is the land classification for Kodambakkam High Road?

The land classification for Kodambakkam High Road is Commercial Special Type - II, indicating its suitability for commercial activities.

Where can I find the Thiyagaraya nagar Sub Registrar Office?

The Thiyagaraya nagar Sub Registrar Office is located at 27/14, Vetnari Hospital Road, Panpet, Nandhanam, Chennai-35.

How is the stamp duty calculated for properties in Tnagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 2,20,00,000, the stamp duty would be Rs 15,40,000 at a rate of 7%.