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 1,320 per sq.ft, effective from 1 July 2024. This street is located in Sattamangalam village and falls under the Chengleput Joint II SRO, classified as Residential Special Type - V.

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

Over the years, the guideline value for Kodikatha Kumaran 2nd Cross Street has seen several revisions. The 2012 revision set the value at Rs 1,200 per sq.ft, which remained unchanged until the 2017 revision, where it dropped to Rs 804 per sq.ft, marking a decrease of 33%. In 2023, the value increased to Rs 1,200 per sq.ft again, and as of the 2024 revision, it stands at Rs 1,320 per sq.ft, reflecting a 10% increase from the previous year.

From 2017 to 2023, there was a significant 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 Sattamangalam

Sattamangalam village has a total of 425 streets under the Chengleput Joint II SRO, with guideline values ranging from Rs 440 to Rs 2,200 per sq.ft. The median value is Rs 1,100 per sq.ft, and 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)
• Kavimani Street (Ward -7): Rs 1,320 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 would be 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 fees to Rs 1,18,800. It is important to note that the 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 detailed calculations.

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

The Kodikatha Kumaran 2nd Cross Street (Ward -8) falls under the jurisdiction of 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 further assistance.

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

The guideline value plays a crucial role during property transactions in Sattamangalam. It is used to determine the stamp duty and registration fees that must be paid at the time of registration. Buyers and sellers should be aware that the guideline value is often used as a benchmark for property transactions.

When registering a property, the stamp duty is calculated based on the higher of the guideline value or the sale price, ensuring that the government receives the appropriate revenue from property transactions. Understanding the guideline value is essential for anyone looking to buy or sell property in Sattamangalam.

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 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, with the most recent increase being from Rs 1,200 per sq.ft in 2023 to Rs 1,320 per sq.ft in 2024. The value has also seen a significant increase of 49% from 2017 to 2023.

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

Kodikatha Kumaran 2nd Cross Street is classified as Residential Special Type - V under the Chengleput Joint II SRO.

What are the stamp duty and registration fees for property transactions?

Stamp duty is charged at 7% and the registration fee at 2% of the guideline value or sale price, whichever is higher. For example, a 1,000 sq.ft plot would incur a total fee of Rs 1,18,800 based on the current guideline value.

Which office handles property registrations for this street?

The Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, is responsible for property registrations in Kodikatha Kumaran 2nd Cross Street (Ward -8).