Guideline Value for KOKILAMBAL 6th NAGAR

KOKILAMBAL 6th NAGAR guideline value

The current guideline value of KOKILAMBAL 6th NAGAR is Rs 1,700 per sq.ft, effective from 1 July 2024. This street is located in Okkiyamthuraipakkam village, under the Neelankarai SRO, and is classified as Residential Class III Type - I.

How the guideline value of KOKILAMBAL 6th NAGAR has changed

The guideline value for KOKILAMBAL 6th NAGAR has seen several revisions over the years. The earliest recorded revision was in 2012, where the value was Rs 1,500 per sq.ft. This was followed by a decrease to Rs 1,005 per sq.ft in 2017. However, from 2017 to 2023, the value increased significantly to Rs 1,500 per sq.ft, and then further rose to Rs 1,700 per sq.ft in the 2024 revision, marking a 13% increase from the previous year.

Notably, there are no recorded figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 13%.

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, placing KOKILAMBAL 6th NAGAR's 2024 figure below that median.

• KOKILAMBAL 5th NAGAR: Rs 1,700 per sq.ft (2024)
• Kokilambal Nagar: Rs 1,700 per sq.ft (2024)
• KOKILAMBAL 4th NAGAR: Rs 1,700 per sq.ft (2024)
• KOKILAMBAL 3rd NAGAR: Rs 1,700 per sq.ft (2024)
• KOKILAMBAL 2nd NAGAR: Rs 1,700 per sq.ft (2024)
• KOKILAMBAL 1st NAGAR: Rs 1,700 per sq.ft (2024)

Stamp duty and registration fee for property in KOKILAMBAL 6th 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 to Rs 1,53,000. 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 details.

Which Sub Registrar Office covers KOKILAMBAL 6th NAGAR?

The KOKILAMBAL 6th NAGAR area falls under the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the property registration process in Okkiyamthuraipakkam. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value serves as a benchmark for both parties. Buyers and sellers must be aware of this value to ensure compliance with registration requirements and to understand the financial implications of the transaction.

Frequently asked questions

What is the current guideline value of KOKILAMBAL 6th NAGAR?

The current guideline value of KOKILAMBAL 6th 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 2012 to Rs 1,005 per sq.ft in 2017, then increased to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,700 per sq.ft in 2024.

What is the land classification of KOKILAMBAL 6th NAGAR?

KOKILAMBAL 6th NAGAR is classified as Residential Class III Type - I.

Which Sub Registrar Office covers KOKILAMBAL 6th NAGAR?

The Neelankarai Sub Registrar Office covers KOKILAMBAL 6th NAGAR, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai.

How is stamp duty calculated for properties in KOKILAMBAL 6th NAGAR?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current guideline value, the stamp duty would be Rs 1,19,000.