Guideline Value for KOSAPALAYAM

Kosapalayam guideline value

The current guideline value of Kosapalayam is Rs 1,600 per sq.ft, effective from 1 July 2024. This area is located in Perambur village, under the Purasaivakkam SRO, and is classified as Residential Class V Type - I.

How the guideline value of Kosapalayam has changed

Over the years, the guideline value of Kosapalayam has seen several revisions. The earliest recorded figure is from 2003, where the guideline value was Rs 369 per sq.ft. It increased to Rs 500 per sq.ft in 2007, followed by a significant rise to Rs 1,500 per sq.ft in 2012. However, this figure dropped to Rs 1,005 per sq.ft in 2017. The guideline value then increased to Rs 1,500 per sq.ft in 2023 and finally reached Rs 1,600 per sq.ft in the 2024 revision.

The changes between these revisions are notable. From 2003 to 2007, there was a 36% increase, followed by a remarkable 200% rise from 2007 to 2012. The value then decreased by 33% from 2012 to 2017. A significant 49% increase occurred from 2017 to 2023, culminating in a 7% rise from 2023 to 2024.

Guideline values in Perambur

In Perambur, there are 1,114 streets under the Purasaivakkam SRO that carry a 2024 guideline value ranging from Rs 1,600 to Rs 7,100 per sq.ft, with a median value of Rs 2,700 per sq.ft. Kosapalayam's 2024 figure is below this median.

• Konnur High Road (Medavakkam Tank To Ottery Bridge): Rs 5,500 per sq.ft (2024)
• Ko. Su. Mani Street: Rs 2,700 per sq.ft (2024)
• Krishnadoss 1st Lane: Rs 3,800 per sq.ft (2024)
• Krishnadoss 1st Street: Rs 4,300 per sq.ft (2024)
• Krishnadoss 2nd Lane: Rs 3,800 per sq.ft (2024)
• Krishnadoss 2nd Street: Rs 3,800 per sq.ft (2024)

Stamp duty and registration fee for property in Kosapalayam

For a 1,000 sq.ft plot at the current guideline value of Rs 1,600 per sq.ft, the total guideline value would be Rs 16,00,000. The stamp duty at 7% would amount to Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, making the total cost for these charges Rs 1,44,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kosapalayam?

Kosapalayam falls under the jurisdiction of the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. To find your specific SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in the registration process of property transactions in Perambur. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers must ensure that the sale price is at least equal to the guideline value to avoid any legal complications during registration.

When a property is sold, the buyer is required to pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Kosapalayam?

The current guideline value of Kosapalayam is Rs 1,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 369 per sq.ft in 2003 to Rs 1,600 per sq.ft in 2024, with several revisions in between, including a drop and subsequent increases.

What are the stamp duty and registration fees for properties in Kosapalayam?

For a property valued at Rs 16,00,000, the stamp duty would be Rs 1,12,000 and the registration fee would be Rs 32,000, totaling Rs 1,44,000.

Which office handles property registration in Kosapalayam?

The Purasaivakkam Sub Registrar Office handles property registration in Kosapalayam, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.

What is the significance of the guideline value in property transactions?

The guideline value is used to determine the minimum registration value for properties. It ensures that the stamp duty and registration fees are calculated correctly based on either the guideline value or the sale price, whichever is higher.