Guideline Value for KOTHANDARAMAN NAGAR

Kothandaraman Nagar guideline value

The current guideline value for Kothandaraman Nagar is Rs 3,520 per sq.ft, effective from 1 July 2024. This area is located in Ekkaduthangal village and falls under the Chennai South Joint I SRO. The land classification for this street is Residential Class III Type - I.

How the guideline value of Kothandaraman Nagar has changed

The guideline value for Kothandaraman Nagar has seen several revisions over the years. In 2002, the value was Rs 422 per sq.ft, which increased to Rs 487 per sq.ft in 2003, marking a 15% rise. The value then rose significantly to Rs 700 per sq.ft in 2007, reflecting a 44% increase. Following this, the guideline value surged to Rs 3,200 per sq.ft in 2012, a remarkable 357% increase. However, it dropped to Rs 2,144 per sq.ft in 2017, showing a decrease of 33%. The value again increased to Rs 3,200 per sq.ft in 2023, and finally, it reached the current rate of Rs 3,520 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 734%. There are no figures available for the revisions in years other than those specified.

Guideline values in Ekkaduthangal

In Ekkaduthangal, there are 190 streets under the Chennai South Joint I SRO that have a 2024 guideline value ranging from Rs 3,080 to Rs 8,800 per sq.ft, with a median value of Rs 4,620 per sq.ft. The guideline value for Kothandaraman Nagar is below this median.

• Kothalamman Street: Rs 3,520 per sq.ft (2024)
• Kaveri Street: Rs 3,080 per sq.ft (2024)
• Kattabomman Street: Rs 4,620 per sq.ft (2024)
• Kasthuribai Gandhi Nagar: Rs 4,620 per sq.ft (2024)
• Karunai Street: Rs 3,080 per sq.ft (2024)
• Karpa Vinayagar Koil Street: Rs 3,520 per sq.ft (2024)

Stamp duty and registration fee for property in Kothandaraman Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 3,520 per sq.ft, the total guideline value amounts to Rs 35,20,000. The stamp duty at 7% would be Rs 2,46,400, and the registration fee at 2% would be Rs 70,400, bringing the total cost for these fees to Rs 3,16,800. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Kothandaraman Nagar?

Kothandaraman Nagar is covered by the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Ekkaduthangal. It serves as a basis for calculating the stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property sales.

When buying or selling property, it is essential to consider the guideline value, as it can impact the overall cost of the transaction. Buyers should be aware that the stamp duty and registration fees are calculated based on the higher of the guideline value or the sale price.

Frequently asked questions

What is the current guideline value of Kothandaraman Nagar?

The current guideline value of Kothandaraman Nagar is Rs 3,520 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 422 per sq.ft in 2002 to Rs 3,520 per sq.ft in 2024, marking an overall increase of 734% over this period.

What are the stamp duty and registration fees for property in Kothandaraman Nagar?

For a property valued at Rs 35,20,000, the stamp duty would be Rs 2,46,400 and the registration fee would be Rs 70,400, totaling Rs 3,16,800.

Which Sub Registrar Office covers Kothandaraman Nagar?

Kothandaraman Nagar is covered by the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.

How does the guideline value affect property transactions?

The guideline value is used to determine the stamp duty and registration fees during property transactions. It is essential for buyers and sellers to consider this value to understand the costs involved in the registration process.