Guideline Value for KOTHAI VANAM

Kothai Vanam guideline value

The current guideline value of Kothai Vanam is Rs 500 per sq.ft, effective from 1 July 2024. This street is located in Nathanallur village, under the jurisdiction of the Walajabad SRO, and is classified as Residential Special Type - III.

How the guideline value of Kothai Vanam has changed

The guideline value for Kothai Vanam has undergone several revisions over the years. The 2012 revision set the value at Rs 500 per sq.ft, which remained unchanged until the 2023 revision, where it again stood at Rs 500 per sq.ft. The following year, in 2024, the value was maintained at Rs 500 per sq.ft, indicating no change from the previous year. Notably, there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

Looking back further, the 2017 revision saw a significant increase to Rs 335 per sq.ft from Rs 500 per sq.ft in 2012, marking a decrease of 33%. However, from 2017 to 2023, there was a substantial increase of 49%, bringing the value back to Rs 500 per sq.ft. Overall, from 2012 to 2024, the guideline value has remained unchanged at Rs 500 per sq.ft.

Guideline values in Nathanallur

Nathanallur village features five streets under the Walajabad SRO, with guideline values ranging from Rs 250 to Rs 500 per sq.ft. The median value for these streets is Rs 400 per sq.ft, placing Kothai Vanam's 2024 figure above this median.

• Rathinam Nagar (Or) Pss Avenue: Rs 400 per sq.ft (2024)
• Ambal Nagar: Rs 400 per sq.ft (2024)
• Shri Paramaguru Enclave: Rs 250 per sq.ft (2024)
• Sri Krishna Nagar: Rs 500 per sq.ft (2024)

Stamp duty and registration fee for property in Kothai Vanam

For a 1,000 sq.ft plot at the current guideline value of Rs 500 per sq.ft, the total guideline value amounts to Rs 5,00,000. The stamp duty, charged at 7%, would be Rs 35,000, while the registration fee at 2% would be Rs 10,000, bringing the total fees to Rs 45,000. 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 Kothai Vanam?

Kothai Vanam falls under the Walajabad Sub Registrar Office, located at Sriperumbudur Road, Walajabad-631 605, Chengalpattu registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Nathanallur. It serves as a benchmark for determining the applicable stamp duty and registration fees, ensuring that the transaction is recorded accurately in the official registry.

When a property is sold, the guideline value helps in assessing the value of the property for taxation purposes. Buyers and sellers must consider this value to understand the financial implications of their transactions, as it directly affects the costs associated with property registration.

Frequently asked questions

What is the current guideline value of Kothai Vanam?

The current guideline value of Kothai Vanam is Rs 500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 500 per sq.ft since 2012, with a significant increase from Rs 335 per sq.ft in 2017 to Rs 500 per sq.ft in 2023. There was no change from 2023 to 2024.

What is the median guideline value in Nathanallur?

The median guideline value for the streets in Nathanallur is Rs 400 per sq.ft, with Kothai Vanam's current value being above this median.

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

For a property valued at Rs 5,00,000, the stamp duty would be Rs 35,000 and the registration fee would be Rs 10,000, totaling Rs 45,000.

Which office handles the registration for Kothai Vanam?

The Walajabad Sub Registrar Office, located at Sriperumbudur Road, Walajabad-631 605, Chengalpattu registration zone, handles the registration for Kothai Vanam.