Guideline Value for KOTHANDARAMAN NAGAR 2ND CROSS STREET

Kothandaraman Nagar 2nd Cross Street guideline value

The current guideline value of Kothandaraman Nagar 2nd Cross Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Perungudi village under the Neelankarai SRO, classified as Residential Class IV Type - I.

How the guideline value of Kothandaraman Nagar 2nd Cross Street has changed

The guideline value for Kothandaraman Nagar 2nd Cross Street has seen several revisions over the years. In 2002, the guideline value was Rs 218 per sq.ft. This increased to Rs 300 per sq.ft in 2003, marking a 38% rise. The value continued to rise, reaching Rs 600 per sq.ft in 2007, a significant increase of 100%. By 2012, the value was Rs 2,000 per sq.ft, reflecting a 233% increase from the previous revision. However, it decreased to Rs 1,340 per sq.ft in 2017, a drop of 33% from 2012. The value then rose to Rs 2,000 per sq.ft in 2023, and finally, it increased to Rs 2,200 per sq.ft in 2024, which is a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 909%. There are no figures available for the revisions in years not listed in the register for this street.

Guideline values in Perungudi

In Perungudi, there are 249 streets under the Neelankarai SRO with a 2024 guideline value ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median guideline value for these streets is Rs 3,300 per sq.ft, placing Kothandaraman Nagar 2nd Cross Street's 2024 figure below that median.

• Kothandaraman Nagar 1st 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 2nd Cross Street

For a 1,000 sq.ft plot at the current rate of Rs 2,200 per sq.ft, the 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, totaling 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 specific calculations.

Which Sub Registrar Office covers Kothandaraman Nagar 2nd Cross Street?

The Kothandaraman Nagar 2nd Cross Street is covered by 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 details.

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

The guideline value plays a crucial role during the registration of property transactions in Perungudi. It is used to determine the stamp duty and registration fees applicable when a property is bought or sold, ensuring that the transaction is recorded at a fair value as per the government’s regulations.

When you decide to buy or sell a property, the guideline value helps in calculating the total costs involved in the registration process. It is essential for buyers and sellers to be aware of the current guideline value to avoid any discrepancies during the registration of the property.

Frequently asked questions

What is the current guideline value of Kothandaraman Nagar 2nd Cross Street?

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

How has the guideline value changed 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, marking an overall increase of 909% over this period.

What are the other streets in Perungudi with the same guideline value?

Other streets in Perungudi with a guideline value of Rs 2,200 per sq.ft in 2024 include Kothandaraman Nagar 1st Cross Street, Kothandaraman Nagar 3rd Cross Street, Kothandaraman Nagar 4th Cross Street, and Kothandaraman Nagar Main Road.

What is the registration fee for property in Kothandaraman Nagar 2nd Cross Street?

The registration fee for property in Kothandaraman Nagar 2nd Cross Street is calculated based on the guideline value, which is currently Rs 2,200 per sq.ft.

Where can I find the Sub Registrar Office for Kothandaraman Nagar 2nd Cross Street?

The Neelankarai Sub Registrar Office covers Kothandaraman Nagar 2nd Cross Street and is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.