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

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

The current guideline value for Kodikatha Kumaran 2nd Cross Street (Ward -8) is Rs 1,320 per sq.ft. This street is located in Panangottur 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 undergone several revisions over the years. The 2012 revision set the value at Rs 1,200 per sq.ft, which then decreased to Rs 804 per sq.ft in the 2017 revision. This was a decline of 33%. However, from 2017 to 2023, the value increased significantly by 49%, reaching Rs 1,200 per sq.ft. The most recent revision in 2024 has further increased the guideline value to Rs 1,320 per sq.ft, reflecting a 10% rise from the previous year.

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

Guideline values in Panangottur

In Panangottur, there are 419 streets under the Chengleput Joint II SRO that carry a 2024 guideline value ranging from Rs 440 to Rs 2,200 per sq.ft. The median guideline value for these streets is Rs 990 per sq.ft. Kodikatha Kumaran 2nd Cross Street's 2024 figure of Rs 1,320 per sq.ft is above this median.

• Kodikatha Kumaran Street (Ward -8): Rs 1,320 per sq.ft (2024)
• Kolatheswar Kovil Street (Kr): Rs 660 per sq.ft (2024)
• Korukkanthangal Salai (Ward -18): Rs 550 per sq.ft (2024)
• Kothari Nagar (Ward -15): Rs 660 per sq.ft (2024)
• Kothari Nagar (Ward -19): Rs 660 per sq.ft (2024)
• Kothari New Town Phase - I: Rs 660 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 1,320 per sq.ft, the total guideline value amounts to Rs 13,20,000. The stamp duty at 7% would be Rs 92,400, and the registration fee at 2% would be Rs 26,400, bringing the total to Rs 1,18,800. It is important to note that duty is charged on the higher of the guideline value and the sale price.

You can use the stamp duty and registration fee calculator for more details.

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

The Kodikatha Kumaran 2nd Cross Street (Ward -8) falls under 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 information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Panangottur. It serves as a basis for calculating the stamp duty and registration fees, ensuring that these charges are applied fairly based on the property's assessed value.

When a property is sold, the guideline value may be used to determine the minimum value for registration. This means that even if the sale price is lower, the stamp duty will be calculated based on the guideline value, ensuring compliance with local regulations.

Frequently asked questions

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

The current guideline value for Kodikatha Kumaran 2nd Cross Street (Ward -8) is Rs 1,320 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 1,320 per sq.ft in 2024, marking a 10% increase. It was Rs 804 per sq.ft in 2017, which was a 49% increase from the previous revision in 2012.

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, indicating its designation for residential development.

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

For a property valued at Rs 13,20,000, the stamp duty would be Rs 92,400, and the registration fee would be Rs 26,400, totaling Rs 1,18,800. 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.