Guideline Value for KOLATHESWAR KOVIL STREET (KR)

Kolatheswar Kovil Street (Kr) guideline value

The current guideline value of Kolatheswar Kovil Street (Kr) is Rs 660 per sq.ft, effective from 1 July 2024. This street is located in Ninna Karai village and falls under the Chengleput Joint II SRO. The land classification for this area is Residential Class I Type - III.

How the guideline value of Kolatheswar Kovil Street (Kr) has changed

The guideline value for Kolatheswar Kovil Street (Kr) has seen several revisions over the years. The 2012 revision set the value at Rs 600 per sq.ft, which was then reduced to Rs 402 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 600 per sq.ft, and the current 2024 revision has further increased it to Rs 660 per sq.ft, marking a 10% rise from the previous year.

From 2012 to 2017, there was a decrease of 33%, but from 2017 to 2023, the value rose significantly by 49%. Overall, comparing the 2012 and 2024 revisions, 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 Ninna Karai

Ninna Karai village has 449 streets under the Chengleput Joint II SRO that carry a 2024 guideline value, ranging from Rs 440 to Rs 3,500 per sq.ft. The median guideline value in this village is Rs 1,100 per sq.ft, placing Kolatheswar Kovil Street (Kr) below this median.

• Kodikatha Kumaran Street (Ward -8): Rs 1,321 per sq.ft (2024)
• Kodikatha Kumaran 2nd Cross Street (Ward -8): Rs 1,321 per sq.ft (2024)
• Korukkanthangal Salai (Ward -18): Rs 660 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 1,321 per sq.ft (2024)

Stamp duty and registration fee for property in Kolatheswar Kovil Street (Kr)

For a 1,000 sq.ft plot at the current guideline value of Rs 660 per sq.ft, the total guideline value would be Rs 6,60,000. The stamp duty at 7% would amount to Rs 46,200, and the registration fee at 2% would be Rs 13,200, bringing the total to Rs 59,400. 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 details.

Which Sub Registrar Office covers Kolatheswar Kovil Street (Kr)?

The Sub Registrar Office that covers Kolatheswar Kovil Street (Kr) is 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 more information.

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

The guideline value is a crucial factor in property transactions in Ninna Karai, as it determines the minimum value at which properties can be registered. Buyers and sellers must consider this value when negotiating sale prices to ensure compliance with registration requirements.

During the registration process, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that all transactions are fairly assessed according to the established guideline values.

Frequently asked questions

What is the current guideline value of Kolatheswar Kovil Street (Kr)?

The current guideline value of Kolatheswar Kovil Street (Kr) is Rs 660 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2012 to Rs 402 per sq.ft in 2017, then back to Rs 600 per sq.ft in 2023, and finally to Rs 660 per sq.ft in 2024.

What is the land classification for Kolatheswar Kovil Street (Kr)?

The land classification for Kolatheswar Kovil Street (Kr) is Residential Class I Type - III.

Where can I find the Chengleput Joint II Sub Registrar Office?

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone.

How is stamp duty calculated for properties in Ninna Karai?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 6,60,000, the stamp duty would be Rs 46,200 at a rate of 7%.