Guideline Value for KOTHANDARAMAN NAGAR 1ST CROSS STREET

Kothandaraman Nagar 1st Cross Street guideline value

The current guideline value for Kothandaraman Nagar 1st Cross Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Perungudi village and falls under the Neelankarai SRO. The land classification for this area is Residential Class IV Type - I.

How the guideline value of Kothandaraman Nagar 1st Cross Street has changed

The guideline value for Kothandaraman Nagar 1st Cross Street has seen several revisions over the years. Starting with the 2002 revision, the guideline value was Rs 218 per sq.ft. This increased to Rs 300 per sq.ft in 2003, and then to Rs 600 per sq.ft in 2007. The 2012 revision set the value at Rs 2,000 per sq.ft, followed by a decrease to Rs 1,340 per sq.ft in 2017. The value then rose to Rs 2,000 per sq.ft in 2023, and finally to the current rate of Rs 2,200 per sq.ft in 2024.

In terms of changes, from 2002 to 2003, there was an increase of 38%. The value then saw a 100% rise from 2003 to 2007. The 2007 to 2012 period recorded a significant increase of 233%. However, from 2012 to 2017, there was a decrease of 33%. The value increased by 49% from 2017 to 2023, and the latest revision from 2023 to 2024 reflects a 10% increase. Overall, from 2002 to 2024, the guideline value has increased by 909%.

Guideline values in Perungudi

In Perungudi, there are 249 streets under the Neelankarai SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 8,800 per sq.ft, with a median value of Rs 3,300 per sq.ft. The guideline value for Kothandaraman Nagar 1st Cross Street is below this median.

• Kothandaraman Nagar 2nd Cross Street: Rs 2,200 per sq.ft (2024)
• Kothandaraman Nagar 3rd Cross Street: Rs 2,200 per sq.ft (2024)
• Kothandaraman Nagar 4th Cross Street: Rs 2,200 per sq.ft (2024)
• Kothandaraman Nagar Main Road: Rs 2,200 per sq.ft (2024)
• Kulakkarai Street: Rs 2,800 per sq.ft (2024)
• Kazhiveli Salai: Rs 1,700 per sq.ft (2024)

Stamp duty and registration fee for property in Kothandaraman Nagar 1st Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total cost for these fees to Rs 1,98,000. It is important to note that the 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 Kothandaraman Nagar 1st Cross Street?

The Kothandaraman Nagar 1st Cross Street falls under the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Perungudi, as it determines the minimum value at which a property can be registered. When buying or selling property, the guideline value serves as a reference point for calculating applicable fees and taxes.

At the time of registration, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Kothandaraman Nagar 1st Cross Street?

The current guideline value of Kothandaraman Nagar 1st Cross Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Over the years, the guideline value has increased from Rs 218 per sq.ft in 2002 to Rs 2,200 per sq.ft in 2024, reflecting a significant overall increase of 909%.

What are the other streets in Perungudi with similar guideline values?

Other streets in Perungudi with a guideline value of Rs 2,200 per sq.ft in 2024 include Kothandaraman Nagar 2nd Cross Street, Kothandaraman Nagar 3rd Cross Street, Kothandaraman Nagar 4th Cross Street, and Kothandaraman Nagar Main Road.

What is the registration fee for properties in Kothandaraman Nagar 1st Cross Street?

The registration fee is calculated at 2% of the guideline value. For a property with a guideline value of Rs 22,00,000, the registration fee would be Rs 44,000.

Where can I find the Sub Registrar Office for Kothandaraman Nagar 1st Cross Street?

The Sub Registrar Office covering Kothandaraman Nagar 1st Cross Street is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai.