Guideline Value for KOTHANDARAMAN NAGAR EXTENSION

Kothandaraman Nagar Extension guideline value

The current guideline value of Kothandaraman Nagar Extension is Rs 2,500 per sq.ft, effective from 1 July 2024. This area is located in Nerkundram village and falls under the Virugambakkam SRO. The land classification for this street is Residential Class III Type - II.

How the guideline value of Kothandaraman Nagar Extension has changed

The guideline value for Kothandaraman Nagar Extension has seen several revisions over the years. The earliest recorded figure is from 2012, which was Rs 2,250 per sq.ft. This was followed by a decrease in 2017 to Rs 1,507 per sq.ft, marking a decline of 33%. In 2023, the value increased to Rs 2,250 per sq.ft, and in the latest revision for 2024, it rose further to Rs 2,500 per sq.ft, reflecting an increase of 11% from the previous year.

From 2017 to 2023, the guideline value experienced a significant increase of 49%. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 11%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Nerkundram

In Nerkundram, there are 476 streets under the Virugambakkam SRO that have a 2024 guideline value ranging from Rs 1,650 to Rs 6,600 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, making Kothandaraman Nagar Extension's 2024 figure of Rs 2,500 per sq.ft above the median.

• Kothandaraman Nagar: Rs 2,750 per sq.ft (2024)
• Krishna Nagar: Rs 2,200 per sq.ft (2024)
• Kumudavalli Avenue: Rs 2,200 per sq.ft (2024)
• Karuneegar Street: Rs 2,750 per sq.ft (2024)
• KANNIAMAN NAGAR - Veeramamunivar Street: Rs 2,200 per sq.ft (2024)
• KANNIAMAN NAGAR - Varasidhi Vinayagar Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Kothandaraman Nagar Extension

For a 1,000 sq.ft plot at the current rate of Rs 2,500 per sq.ft, the guideline value amounts to Rs 25,00,000. The stamp duty at 7% would be Rs 1,75,000, and the registration fee at 2% would be Rs 50,000, totaling Rs 2,25,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kothandaraman Nagar Extension?

The Kothandaraman Nagar Extension is covered by the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Nerkundram. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the higher of the guideline value or the sale price is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions, based on the established guideline values.

Frequently asked questions

What is the current guideline value of Kothandaraman Nagar Extension?

The current guideline value of Kothandaraman Nagar Extension is Rs 2,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,250 per sq.ft in 2012 to Rs 1,507 per sq.ft in 2017, then back to Rs 2,250 per sq.ft in 2023, and finally to Rs 2,500 per sq.ft in 2024.

What is the land classification for Kothandaraman Nagar Extension?

Kothandaraman Nagar Extension is classified as Residential Class III Type - II.

Where can I find the registration office for Kothandaraman Nagar Extension?

The registration office for Kothandaraman Nagar Extension is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

How is the stamp duty calculated for property transactions?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property with a guideline value of Rs 25,00,000, the stamp duty would be Rs 1,75,000 at a rate of 7%.