Guideline Value for KOKILA GARDEN (S.NO.55/2)

Kokila Garden (S.No.55/2) guideline value

The current guideline value of Kokila Garden (S.No.55/2) is Rs 3,100 per sq.ft, effective from 1 July 2024. This property is located in Ramapuram village and falls under the Chennai South Joint II SRO, classified as Residential Class II Type - I.

How the guideline value of Kokila Garden (S.No.55/2) has changed

The guideline value of Kokila Garden has undergone several revisions over the years. In 2003, the guideline value was Rs 751 per sq.ft, which increased to Rs 900 per sq.ft in 2007. This was followed by a significant jump to Rs 2,800 per sq.ft in 2012, before dropping to Rs 1,876 per sq.ft in 2017. The value then rose sharply to Rs 2,800 per sq.ft in 2023 and has now reached Rs 3,100 per sq.ft in the 2024 revision, marking an 11% increase from the previous year.

Overall, from 2003 to 2024, the guideline value has increased by 313%. The register has no figure for the year 2002 for this street.

Guideline values in Ramapuram

In Ramapuram, there are 394 streets under the Chennai South Joint II SRO that carry a 2024 guideline value, ranging from Rs 1,950 to Rs 6,600 per sq.ft, with the median value being Rs 3,100 per sq.ft. The guideline value for Kokila Garden (S.No.55/2) matches this median.

• Kokkan Street: Rs 2,750 per sq.ft (2024)
• Kogila Garden Road: Rs 3,100 per sq.ft (2024)
• K.K. Ponnurangam Salai Cross Street: Rs 3,100 per sq.ft (2024)
• K.K.Ponnrangam Naicken Salai: Rs 3,550 per sq.ft (2024)
• Kothari Nagar & 1 To 5th Street: Rs 4,400 per sq.ft (2024)
• Kothari Nagar 1 to 9 Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Kokila Garden (S.No.55/2)

For a 1,000 sq.ft plot at the current guideline value, the total guideline value amounts to Rs 31,00,000. The stamp duty at 7% would be Rs 2,17,000, and the registration fee at 2% would be Rs 62,000, bringing the total cost to Rs 2,79,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kokila Garden (S.No.55/2)?

The Sub Registrar Office that covers Kokila Garden (S.No.55/2) is the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Ramapuram. It serves as a benchmark for determining the minimum value at which properties can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations during the registration process.

When a property is sold, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Kokila Garden (S.No.55/2)?

The current guideline value of Kokila Garden (S.No.55/2) is Rs 3,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 751 per sq.ft in 2003 to Rs 3,100 per sq.ft in 2024, reflecting an overall increase of 313% over this period.

What is the land classification for Kokila Garden (S.No.55/2)?

Kokila Garden (S.No.55/2) is classified as Residential Class II Type - I, which is important for understanding its usage and development potential.

What are the stamp duty and registration fees for properties in Kokila Garden (S.No.55/2)?

The stamp duty is charged at 7% and the registration fee at 2% based on the guideline value or sale price, whichever is higher. For example, for a 1,000 sq.ft plot, the total fees would amount to Rs 2,79,000.

Which office handles the registration for Kokila Garden (S.No.55/2)?

The registration for Kokila Garden (S.No.55/2) is handled by the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.