Guideline Value for KOTHANDARAMAN KOIL STREET (SOUTH)

Kothandaraman Koil Street (South) guideline value

The current guideline value of Kothandaraman Koil Street (South) is Rs 6,600 per sq.ft, effective from 1 July 2024. This street is located in Mambalam village and falls under the Thiyagaraya nagar SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Kothandaraman Koil Street (South) has changed

The guideline value for Kothandaraman Koil Street has seen several revisions over the years. The earliest recorded value was Rs 693 per sq.ft in 2002. This figure increased to Rs 769 per sq.ft in 2003, marking an 11% rise. Following this, the value surged significantly to Rs 1,500 per sq.ft in 2007, a change of 95%. The value continued to climb to Rs 6,000 per sq.ft in 2012, reflecting a 300% increase. However, it then decreased to Rs 4,020 per sq.ft in 2017, a drop of 33%. The value rose again to Rs 6,000 per sq.ft in 2023, and most recently, it increased to Rs 6,600 per sq.ft in 2024, which is a 10% increase.

Overall, from 2002 to 2024, the guideline value has increased by 852%. There are no recorded figures for the years between these revisions for Kothandaraman Koil Street.

Guideline values in Mambalam

In Mambalam, there are 163 streets under the Thiyagaraya nagar SRO, and the guideline values for 2024 range from Rs 4,400 to Rs 22,000 per sq.ft. The median guideline value is Rs 6,600 per sq.ft, which is equal to the current value of Kothandaraman Koil Street.

• Kothandaraman Koil Street: Rs 6,600 per sq.ft (2024)
• KODAMBAKKAM ROAD (Western Side Door No 115 to 94 Eastern Side D.Nos 10 to 35): Rs 9,900 per sq.ft (2024)
• Krishnamurthy Street: Rs 4,400 per sq.ft (2024)
• Kumaran Colony 1 St Street: Rs 7,700 per sq.ft (2024)
• Kumaran Colony 2nd Street: Rs 7,700 per sq.ft (2024)
• Kaveri Nagar Ist Cross Street: Rs 5,000 per sq.ft (2024)

Stamp duty and registration fee for property in Kothandaraman Koil Street (South)

For a 1,000 sq.ft plot at the current guideline value of Rs 6,600 per sq.ft, the total guideline value would be Rs 66,00,000. The stamp duty at 7% would amount to Rs 4,62,000, and the registration fee at 2% would be Rs 1,32,000, bringing the total fees to Rs 5,94,000. 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 detailed calculations.

Which Sub Registrar Office covers Kothandaraman Koil Street (South)?

The Sub Registrar Office that covers Kothandaraman Koil Street (South) is the Thiyagaraya nagar Sub Registrar Office, located at 27/14, Vetnari Hospital Road, Panpet, Nandhanam, Chennai-35. You can find your SRO for more information.

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

The guideline value is essential when registering property in Mambalam, as it determines the minimum value at which a property can be registered. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that all transactions are conducted fairly according to the established rates.

When buying or selling property, both the buyer and seller must consider the guideline value to understand the financial implications of the transaction. It is crucial for both parties to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Kothandaraman Koil Street (South)?

The current guideline value of Kothandaraman Koil Street (South) is Rs 6,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 693 per sq.ft in 2002 to Rs 6,600 per sq.ft in 2024, reflecting an overall increase of 852% over the years.

What is the land classification for Kothandaraman Koil Street (South)?

Kothandaraman Koil Street (South) is classified as Residential Class II Type - I, indicating its suitability for residential purposes.

What are the stamp duty and registration fees for properties here?

For a property valued at Rs 66,00,000, the total stamp duty would be Rs 4,62,000 and the registration fee would be Rs 1,32,000, totaling Rs 5,94,000.

Where can I find the Sub Registrar Office for Kothandaraman Koil Street (South)?

The Sub Registrar Office for Kothandaraman Koil Street (South) is the Thiyagaraya nagar Sub Registrar Office, located at 27/14, Vetnari Hospital Road, Panpet, Nandhanam, Chennai-35.