Guideline Value for KOKILAMBAL NAGAR

Kokilambal Nagar guideline value

The current guideline value of Kokilambal Nagar is Rs 1,700 per sq.ft, effective from 1 July 2024. This area is located in Okkiyamthuraipakkam village under the Neelankarai Sub Registrar Office (SRO) and is classified as Residential Class III Type - I.

How the guideline value of Kokilambal Nagar has changed

The guideline value for Kokilambal Nagar has undergone several revisions over the years. In 2003, the guideline value was Rs 111 per sq.ft, which increased to Rs 250 per sq.ft in 2007. The value saw a significant rise to Rs 1,500 per sq.ft in 2012, but then decreased to Rs 1,005 per sq.ft in 2017. The value increased again to Rs 1,500 per sq.ft in 2023, and most recently, it has been set at Rs 1,700 per sq.ft in 2024. The register has no figure for this street in 2002.

Between these revisions, there were notable changes. The increase from 2017 to 2023 was +49%, while the change from 2012 to 2017 was a decrease of -33%. The rise from 2007 to 2012 was a remarkable +500%, and from 2003 to 2007, the increase was +125%. Overall, from 2003 to 2024, the guideline value has increased by +1432%.

Guideline values in Okkiyamthuraipakkam

In Okkiyamthuraipakkam village, there are 453 streets under the Neelankarai SRO that have a 2024 guideline value ranging from Rs 1,100 to Rs 8,800 per sq.ft, with a median value of Rs 3,300 per sq.ft. Kokilambal Nagar's 2024 figure is below this median.

• KOKILAMBAL 6th NAGAR: Rs 1,700 per sq.ft (2024)
• KOKILAMBAL 5th 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 Nagar

For a 1,000 sq.ft plot at the current rate of Rs 1,700 per sq.ft, the guideline value would be Rs 17,00,000. The stamp duty at 7% would be Rs 1,19,000, and the registration fee at 2% would be Rs 34,000, totaling Rs 1,53,000. Please note that the duty is charged on the guideline value or the sale price, whichever is higher. You can also use our stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Kokilambal Nagar?

The Sub Registrar Office that covers Kokilambal Nagar is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai. You can find your SRO here.

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

The guideline value is a crucial factor during the registration of property transactions in Okkiyamthuraipakkam. It serves as the basis for calculating stamp duty and registration fees, ensuring that the government receives appropriate revenue from property sales.

When buying or selling property, the guideline value helps in determining the minimum value at which a property can be registered. This prevents undervaluation and ensures transparency in property transactions.

Frequently asked questions

What is the current guideline value of Kokilambal Nagar?

The current guideline value of Kokilambal 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 seen several revisions, starting from Rs 111 per sq.ft in 2003 to Rs 1,700 per sq.ft in 2024, reflecting an overall increase of +1432% over the years.

What is the land classification of Kokilambal Nagar?

Kokilambal Nagar is classified as Residential Class III Type - I, indicating its suitability for residential purposes.

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

The stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, while the registration fee is 2% of the guideline value. For example, a 1,000 sq.ft plot would incur a total fee of Rs 1,53,000.

Where can I find the Neelankarai Sub Registrar Office?

The Neelankarai Sub Registrar Office is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai. You can find your SRO using the provided link.