Guideline Value for KORUKKANTHANGAL SALAI (WARD -18)

Korukkanthangal Salai (Ward -18) guideline value

The current guideline value for Korukkanthangal Salai (Ward -18) is Rs 550 per sq.ft, effective from 1 July 2024. This street is located in Panangottur village, which falls under the Chengleput Joint II SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Korukkanthangal Salai (Ward -18) has changed

Since the 2012 revision, the guideline value for Korukkanthangal Salai has seen various changes. The value was Rs 500 per sq.ft in 2012, which decreased to Rs 335 per sq.ft in 2017. However, from 2017 to 2023, the value increased significantly to Rs 500 per sq.ft, marking a 49% rise. The latest revision in 2024 has set the guideline value at Rs 550 per sq.ft, reflecting a 10% increase from the previous year.

There are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Panangottur

In Panangottur, there are 419 streets under the Chengleput Joint II SRO, with guideline values ranging from Rs 440 to Rs 2,200 per sq.ft. The median guideline value in the village is Rs 990 per sq.ft, placing Korukkanthangal Salai's 2024 figure below this median.

• Kothari Nagar (Ward -15): Rs 660 per sq.ft (2024)
• Kothari Nagar (Ward -19): Rs 660 per sq.ft (2024)
• Kothari New Town Phase - I: Rs 660 per sq.ft (2024)
• Kolatheswar Kovil Street (Kr): Rs 660 per sq.ft (2024)
• Kodikatha Kumaran Street (Ward -8): Rs 1,320 per sq.ft (2024)
• Kodikatha Kumaran 2nd Cross Street (Ward -8): Rs 1,320 per sq.ft (2024)

Stamp duty and registration fee for property in Korukkanthangal Salai (Ward -18)

For a 1,000 sq.ft plot at the current guideline value of Rs 550 per sq.ft, the total guideline value amounts to Rs 5,50,000. The stamp duty at 7% would be Rs 38,500, and the registration fee at 2% would be Rs 11,000, bringing the total cost together to Rs 49,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Korukkanthangal Salai (Ward -18)?

The Sub Registrar Office that covers Korukkanthangal Salai (Ward -18) 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 Panangottur

The guideline value is a crucial factor when buying or selling property in Panangottur. It serves as a benchmark for determining the minimum price at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with legal requirements during the registration process.

When a property transaction occurs, the stamp duty and registration fees are calculated based on the guideline value. This ensures that the state receives the appropriate revenue from property transactions, reflecting the value of the property being transferred.

Frequently asked questions

What is the current guideline value of Korukkanthangal Salai (Ward -18)?

The current guideline value of Korukkanthangal Salai (Ward -18) is Rs 550 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 500 per sq.ft in 2012 to Rs 335 per sq.ft in 2017, then to Rs 500 per sq.ft in 2023, and finally to Rs 550 per sq.ft in 2024.

What is the land classification of Korukkanthangal Salai?

The land classification for Korukkanthangal Salai (Ward -18) is Residential Class II Type - I.

Where can I find the Sub Registrar Office for Korukkanthangal Salai?

The Sub Registrar Office for Korukkanthangal Salai is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.

How is the stamp duty calculated for properties in Korukkanthangal Salai?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 5,50,000, the stamp duty would be Rs 38,500 at a rate of 7%.