Guideline Value for KOTHANDARAMAN KOIL STREET

Kothandaraman Koil Street guideline value

The current guideline value of Kothandaraman Koil Street 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 has changed

The guideline value for Kothandaraman Koil Street has seen several revisions over the years. In 2002, the value was Rs 759 per sq.ft, which increased to Rs 842 per sq.ft in 2003, marking an increase of 11%. The value then rose significantly to Rs 1,500 per sq.ft in 2007, reflecting a 78% increase. Following this, the value surged to Rs 6,000 per sq.ft in 2012, representing a substantial increase of 300%. However, it decreased to Rs 4,020 per sq.ft in 2017, a decline of 33%. The value then climbed to Rs 6,000 per sq.ft in 2023, before reaching the current figure of Rs 6,600 per sq.ft in 2024, which is a 10% increase.

Overall, from 2002 to 2024, the guideline value has increased by 770%. The register has no figure for the years not mentioned in the revisions above.

Guideline values in Mambalam

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

• Kothandaraman Koil Street (South): 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

For a 1,000 sq.ft plot at the current rate of Rs 6,600 per sq.ft, the 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, totaling Rs 5,94,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kothandaraman Koil Street?

The Sub Registrar Office that covers Kothandaraman Koil Street 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 an essential factor in property transactions, as it determines the minimum value at which a property can be registered. When buying or selling a property, the guideline value is used to calculate the stamp duty and registration fees, ensuring compliance with local regulations.

It is crucial for buyers and sellers to be aware of the guideline value, as it can influence the overall costs involved in the transaction. This value serves as a reference point for both parties during negotiations and helps in establishing a transparent process.

Frequently asked questions

What is the current guideline value of Kothandaraman Koil Street?

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

How much has the guideline value changed over the years?

The guideline value has changed significantly from Rs 759 per sq.ft in 2002 to Rs 6,600 per sq.ft in 2024, marking an overall increase of 770% over the years.

What is the stamp duty for property in Kothandaraman Koil Street?

The stamp duty for property in Kothandaraman Koil Street is 7% of the guideline value or the sale price, whichever is higher.

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

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

What is the land classification for Kothandaraman Koil Street?

The land classification for Kothandaraman Koil Street is Residential Class II Type - I.