Guideline Value for KOKILAMBAL 2nd NAGAR

KOKILAMBAL 2nd NAGAR guideline value

The current guideline value for KOKILAMBAL 2nd NAGAR is Rs 1,700 per sq.ft, effective from 1 July 2024. This area is located in Okkiyamthuraipakkam village, under the Neelankarai SRO, and is classified as Residential Class III Type - I.

How the guideline value of KOKILAMBAL 2nd NAGAR has changed

The guideline value for KOKILAMBAL 2nd NAGAR has seen several revisions over the years. The most recent revision in 2024 set the value at Rs 1,700 per sq.ft, an increase from Rs 1,500 per sq.ft in 2023, marking a change of +13%. Prior to that, in 2017, the value was Rs 1,005 per sq.ft, which means there was a significant increase of +49% from 2017 to 2023. The 2012 revision also recorded a value of Rs 1,500 per sq.ft, indicating a decrease of -33% from 2012 to 2017. Overall, from 2012 to 2024, the guideline value has increased by +13%.

The register does not have figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Okkiyamthuraipakkam

In Okkiyamthuraipakkam, there are 453 streets under the Neelankarai SRO, with guideline values ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median guideline value in this area is Rs 3,300 per sq.ft, making the value for KOKILAMBAL 2nd NAGAR below this median.

• KOKILAMBAL 1st NAGAR: Rs 1,700 per sq.ft (2024)
• KOKILAMBAL 3rd NAGAR: Rs 1,700 per sq.ft (2024)
• KOKILAMBAL 4th NAGAR: Rs 1,700 per sq.ft (2024)
• KOKILAMBAL 5th NAGAR: Rs 1,700 per sq.ft (2024)
• KOKILAMBAL 6th NAGAR: Rs 1,700 per sq.ft (2024)
• Kokilambal Nagar: Rs 1,700 per sq.ft (2024)

Stamp duty and registration fee for property in KOKILAMBAL 2nd NAGAR

For a 1,000 sq.ft plot at the current guideline value of Rs 1,700 per sq.ft, the total guideline value would be Rs 17,00,000. The stamp duty at 7% would amount to Rs 1,19,000, and the registration fee at 2% would be Rs 34,000, bringing the total fees to Rs 1,53,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers KOKILAMBAL 2nd NAGAR?

The KOKILAMBAL 2nd NAGAR area is covered by the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai. For more information, you can find your SRO.

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

The guideline value is a crucial factor when registering property transactions in Okkiyamthuraipakkam. It serves as a benchmark for determining the applicable stamp duty and registration fees, ensuring that these costs are based on a standardized value set by the government.

When buying or selling property, the guideline value helps in establishing a fair valuation for the property. This ensures transparency in transactions and helps prevent undervaluation or overvaluation during the registration process.

Frequently asked questions

What is the current guideline value of KOKILAMBAL 2nd NAGAR?

The current guideline value of KOKILAMBAL 2nd NAGAR is Rs 1,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2023 to Rs 1,700 per sq.ft in 2024. It was Rs 1,005 per sq.ft in 2017 and Rs 1,500 per sq.ft in 2012, showing significant increases and decreases over the years.

What is the land classification of KOKILAMBAL 2nd NAGAR?

KOKILAMBAL 2nd NAGAR is classified as Residential Class III Type - I, indicating its designation for residential purposes within the area.

What are the stamp duty and registration fees for properties here?

For a property valued at Rs 17,00,000, the stamp duty would be Rs 1,19,000 and the registration fee would be Rs 34,000, totaling Rs 1,53,000. These fees are based on the guideline value or the sale price, whichever is higher.

Which office handles registrations for KOKILAMBAL 2nd NAGAR?

The Neelankarai Sub Registrar Office handles registrations for KOKILAMBAL 2nd NAGAR, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai.