Guideline Value for KOTHANDARAMAN NAGAR 3RD CROSS STREET

Kothandaraman Nagar 3rd Cross Street guideline value

The current guideline value of Kothandaraman Nagar 3rd 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, and is classified as Residential Class IV Type - I.

How the guideline value of Kothandaraman Nagar 3rd Cross Street has changed

The guideline value for Kothandaraman Nagar 3rd Cross Street has undergone several revisions over the years. Starting from the 2002 revision, the value was Rs 218 per sq.ft. This figure increased to Rs 300 per sq.ft in 2003, marking a change of +38%. The value rose significantly to Rs 600 per sq.ft in 2007, reflecting a +100% increase. By 2012, the value was Rs 2,000 per sq.ft, which was a substantial +233% rise from the previous revision. However, in 2017, it decreased to Rs 1,340 per sq.ft, showing a change of -33%. The guideline value then increased to Rs 2,000 per sq.ft in 2023, with a +49% change. The most recent revision in 2024 saw the value rise to Rs 2,200 per sq.ft, an increase of +10% from 2023.

There are no figures available for the years not mentioned in the revisions for this street.

Guideline values in Perungudi

In Perungudi village, 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 3rd Cross Street is below this median.

• Kothandaraman Nagar 2nd Cross Street: Rs 2,200 per sq.ft (2024)
• Kothandaraman Nagar 4th Cross Street: Rs 2,200 per sq.ft (2024)
• Kothandaraman Nagar 1st 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 3rd 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. Together, the total cost would be Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kothandaraman Nagar 3rd Cross Street?

The Sub Registrar Office that covers Kothandaraman Nagar 3rd Cross Street is 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 an essential factor when registering a property in Perungudi. It is used to determine the stamp duty and registration fees that must be paid during the transaction. Buyers should be aware that the guideline value may differ from the actual sale price, and the higher amount will be used to calculate the applicable duties.

When selling property, the guideline value serves as a benchmark for determining the minimum value at which the property can be registered. This ensures that the transaction is recorded accurately for taxation and legal purposes.

Frequently asked questions

What is the current guideline value for Kothandaraman Nagar 3rd Cross Street?

The current guideline value for Kothandaraman Nagar 3rd 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 changed from Rs 218 per sq.ft in 2002 to Rs 2,200 per sq.ft in 2024, showing an overall increase of +909% over this period.

What is the classification of Kothandaraman Nagar 3rd Cross Street?

Kothandaraman Nagar 3rd Cross Street is classified as Residential Class IV Type - I.

What are the stamp duty and registration fees for this street?

The stamp duty is calculated at 7% and the registration fee at 2% of the guideline value or sale price, whichever is higher. For a 1,000 sq.ft plot, the total fees would amount to Rs 1,98,000.

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

The Neelankarai Sub Registrar Office covers Kothandaraman Nagar 3rd Cross Street, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.