Guideline Value for KODI MALAR STREET

Kodi Malar Street guideline value

The current guideline value of Kodi Malar Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Thirusulam village, under the Pallavaram SRO, and is classified as Residential Class II Type - II.

How the guideline value of Kodi Malar Street has changed

The guideline value for Kodi Malar Street has seen several revisions over the years. The 2012 revision set the value at Rs 2,000 per sq.ft, which was then reduced to Rs 1,340 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 2,000 per sq.ft, and the most recent 2024 revision raised it further to Rs 2,200 per sq.ft. There are no figures available for the revisions in 2002, 2003, and 2007 for this street.

From 2012 to 2017, the value decreased by 33%. However, from 2017 to 2023, there was a significant increase of 49%. The overall change from the 2012 revision to the 2024 revision shows a modest increase of 10%.

Guideline values in Thirusulam

In Thirusulam, there are 74 streets under the Pallavaram SRO that carry a 2024 guideline value ranging from Rs 1,080 to Rs 2,750 per sq.ft, with a median value of Rs 1,940 per sq.ft. Kodi Malar Street's 2024 figure of Rs 2,200 per sq.ft is above this median.

• Kennady Veli Main Salai: Rs 1,940 per sq.ft (2024)
• Kennady Valley 1 to 3 Cross Streets: Rs 2,200 per sq.ft (2024)
• Kennady Valley: Rs 2,200 per sq.ft (2024)
• Kumaran Street: Rs 2,200 per sq.ft (2024)
• Kannabiran Koil Street Ext: Rs 2,200 per sq.ft (2024)
• Kannabiran Koil Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Kodi Malar Street

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, bringing the total fees to Rs 1,98,000. It is important to note that the 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 Kodi Malar Street?

Kodi Malar Street is covered by the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Thirusulam. It is used to determine the stamp duty and registration fees during the registration process. Buyers and sellers must consider the guideline value to ensure compliance with local regulations.

When a property is sold, the guideline value is assessed to calculate the applicable charges. This ensures that the transaction is recorded accurately and that the appropriate fees are paid based on the established guideline value.

Frequently asked questions

What is the current guideline value of Kodi Malar Street?

The current guideline value of Kodi Malar Street 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 to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,200 per sq.ft in 2024.

What is the land classification for Kodi Malar Street?

Kodi Malar Street is classified as Residential Class II Type - II.

Where can I find the registration office for Kodi Malar Street?

The registration office covering Kodi Malar Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

How are stamp duty and registration fees calculated?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher, while the registration fee is 2% of the same. For example, a 1,000 sq.ft plot at the current guideline value would incur a total of Rs 1,98,000 in fees.