Guideline Value for KODIKATHA KUMARAN 2ND CROSS STREET (WARD -8)

Kodikatha Kumaran 2nd Cross Street (Ward -8) guideline value

The current guideline value of Kodikatha Kumaran 2nd Cross Street (Ward -8) is Rs 1,321 per sq.ft, effective from 1 July 2024. This street is located in Ninna Karai village and falls under the Chengleput Joint II SRO. The land classification for this area is Residential Special Type - V.

How the guideline value of Kodikatha Kumaran 2nd Cross Street (Ward -8) has changed

The guideline value for Kodikatha Kumaran 2nd Cross Street has seen several revisions over the years. In 2012, the value was set at Rs 1,200 per sq.ft. This figure remained unchanged until the 2017 revision, which saw a decrease to Rs 804 per sq.ft. However, from 2017 to 2023, there was a significant increase of 49%, bringing the value up to Rs 1,200 per sq.ft. The most recent revision in 2024 has further increased this to Rs 1,321 per sq.ft, reflecting a 10% rise from the previous year.

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

Guideline values in Ninna Karai

Ninna Karai village has a total of 449 streets under the Chengleput Joint II SRO, with guideline values in 2024 ranging from Rs 440 to Rs 3,500 per sq.ft. The median guideline value for these streets is Rs 1,100 per sq.ft, placing Kodikatha Kumaran 2nd Cross Street's 2024 figure above that median.

• Kodikatha Kumaran Street (Ward -8): Rs 1,321 per sq.ft (2024)
• Kolatheswar Kovil Street (Kr): Rs 660 per sq.ft (2024)
• Korukkanthangal Salai (Ward -18): Rs 660 per sq.ft (2024)
• Kothari Nagar (Ward -15): Rs 660 per sq.ft (2024)
• Kothari Nagar (Ward -19): Rs 660 per sq.ft (2024)
• Kavimani Street (Ward -7): Rs 1,321 per sq.ft (2024)

Stamp duty and registration fee for property in Kodikatha Kumaran 2nd Cross Street (Ward -8)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,321 per sq.ft, the total guideline value would be Rs 13,21,000. The stamp duty at 7% would amount to Rs 92,470, while the registration fee at 2% would be Rs 26,420. Together, the total cost for these fees would be Rs 1,18,890. It is essential to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kodikatha Kumaran 2nd Cross Street (Ward -8)?

The Kodikatha Kumaran 2nd Cross Street (Ward -8) is covered by the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role during property registration in Ninna Karai. When a property is bought or sold, the guideline value is used to determine the stamp duty and registration fees, ensuring that these charges are based on a standardized value set by the government.

It is important for buyers and sellers to be aware of the guideline value, as it can affect the overall cost of the transaction. Understanding the current guideline value helps in making informed decisions during property dealings.

Frequently asked questions

What is the current guideline value of Kodikatha Kumaran 2nd Cross Street?

The current guideline value of Kodikatha Kumaran 2nd Cross Street (Ward -8) is Rs 1,321 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2023 to Rs 1,321 per sq.ft in 2024, marking a 10% increase. From 2017 to 2023, it increased by 49% from Rs 804 per sq.ft to Rs 1,200 per sq.ft.

What is the land classification for Kodikatha Kumaran 2nd Cross Street?

The land classification for Kodikatha Kumaran 2nd Cross Street is Residential Special Type - V. This classification indicates the type of development allowed in the area.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 13,21,000, the stamp duty would be Rs 92,470 and the registration fee would be Rs 26,420, totaling Rs 1,18,890. These fees are calculated based on the guideline value or the sale price, whichever is higher.

Where is the Chengleput Joint II Sub Registrar Office located?

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. This office handles registrations for properties in the area.