Guideline Value for KOTHANDAM NAGAR 1 TO 5 STREETS

Kothandam Nagar 1 To 5 Streets guideline value

The current guideline value for Kothandam Nagar 1 To 5 Streets is Rs 3,520 per sq.ft, effective from 1 July 2024. This area is located in Zaminpallavaram village, under the Pallavaram SRO, and is classified as Residential Class I Type - I.

How the guideline value of Kothandam Nagar 1 To 5 Streets has changed

The guideline value for Kothandam Nagar 1 To 5 Streets has seen several revisions over the years. In 2012, the guideline value was Rs 3,200 per sq.ft. This figure remained the same in the subsequent revision in 2017, where it dropped to Rs 2,144 per sq.ft, reflecting a decrease of 33%. By 2023, the value increased significantly to Rs 3,200 per sq.ft, and in the latest revision for 2024, it rose to Rs 3,520 per sq.ft, marking a 10% increase from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for this street.

Guideline values in Zaminpallavaram

In Zaminpallavaram, there are 638 streets under the Pallavaram SRO, with guideline values ranging from Rs 2,100 to Rs 11,000 per sq.ft. The median guideline value in this area is Rs 3,300 per sq.ft, making the current figure for Kothandam Nagar 1 To 5 Streets above the median.

• Kottabomman Cross Street: Rs 2,160 per sq.ft (2024)
• Kottabomman Street: Rs 3,520 per sq.ft (2024)
• Kollanchavadi: Rs 2,750 per sq.ft (2024)
• Kolappan Street: Rs 3,300 per sq.ft (2024)
• Kovalan 2nd Street: Rs 2,160 per sq.ft (2024)
• Kovalan Street: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Kothandam Nagar 1 To 5 Streets

For a 1,000 sq.ft plot at the current guideline value of Rs 3,520 per sq.ft, the total guideline value would be Rs 35,20,000. The stamp duty at 7% would amount to Rs 2,46,400, while the registration fee at 2% would be Rs 70,400. The total cost for stamp duty and registration fees together would be Rs 3,16,800. It is important to note that duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Kothandam Nagar 1 To 5 Streets?

The Kothandam Nagar 1 To 5 Streets fall under the jurisdiction of the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Zaminpallavaram. 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 local regulations during the transaction process.

When registering a property, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that the government receives the appropriate revenue based on the property's assessed value.

Frequently asked questions

What is the current guideline value for Kothandam Nagar 1 To 5 Streets?

The current guideline value for Kothandam Nagar 1 To 5 Streets is Rs 3,520 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,200 per sq.ft in 2012 to Rs 2,144 per sq.ft in 2017, then back to Rs 3,200 per sq.ft in 2023, and finally to Rs 3,520 per sq.ft in 2024.

What is the land classification for Kothandam Nagar 1 To 5 Streets?

Kothandam Nagar 1 To 5 Streets is classified as Residential Class I Type - I.

Where can I find the Sub Registrar Office for this area?

The Sub Registrar Office for Kothandam Nagar 1 To 5 Streets is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone.

How is stamp duty calculated for properties in Kothandam Nagar 1 To 5 Streets?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 35,20,000, the stamp duty would be Rs 2,46,400 at a rate of 7%.