Guideline Value for KOTHANDARAMAN NAGAR

Kothandaraman Nagar guideline value

The current guideline value of Kothandaraman Nagar is Rs 2,750 per sq.ft, effective from 1 July 2024. This locality is situated in Nerkundram village and falls under the Virugambakkam SRO. The land classification for this area is Residential Class III Type - I.

How the guideline value of Kothandaraman Nagar has changed

Over the years, the guideline value of Kothandaraman Nagar has seen significant changes. In 2002, the value was Rs 127 per sq.ft, which increased to Rs 140 per sq.ft in 2003, marking a 10% rise. The value further surged to Rs 350 per sq.ft in 2007, reflecting a substantial increase of 150%. By 2012, the value was Rs 2,500 per sq.ft, showing a remarkable increase of 614% from the previous revision. However, it then decreased to Rs 1,675 per sq.ft in 2017, a drop of 33% from 2012. The 2023 revision set the value at Rs 2,500 per sq.ft, a significant increase of 49% from 2017. The latest revision in 2024 raised the value to Rs 2,750 per sq.ft, indicating a 10% increase from the previous year.

The overall change from 2002 to 2024 is an impressive increase of 2065%. There are no figures available for the years not mentioned in the register for this street.

Guideline values in Nerkundram

In Nerkundram, there are 476 streets under the Virugambakkam SRO that carry 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, and Kothandaraman Nagar's 2024 figure is above this median.

• Kothandaraman Nagar Extension: Rs 2,500 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

For a 1,000 sq.ft plot at the current rate of Rs 2,750 per sq.ft, the guideline value amounts to Rs 27,50,000. The stamp duty at 7% would be Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, bringing the total to Rs 2,47,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kothandaraman Nagar?

The Sub Registrar Office that covers Kothandaraman Nagar is 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 plays a crucial role during the registration of property transactions in Nerkundram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees. Buyers should be aware that these fees are based on the higher value between the guideline value and the actual sale price of the property.

Frequently asked questions

What is the current guideline value of Kothandaraman Nagar?

The current guideline value of Kothandaraman Nagar is Rs 2,750 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 127 per sq.ft in 2002 to Rs 2,750 per sq.ft in 2024, reflecting an overall increase of 2065% over this period.

What are the other streets in Nerkundram with their guideline values?

Other streets in Nerkundram include Kothandaraman Nagar Extension at Rs 2,500 per sq.ft, Krishna Nagar at Rs 2,200 per sq.ft, and Kumudavalli Avenue at Rs 2,200 per sq.ft, among others.

How is the stamp duty calculated for properties in Kothandaraman Nagar?

Stamp duty for properties in Kothandaraman Nagar is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot would incur a stamp duty of Rs 1,92,500 based on the current guideline value.

Where can I find the Sub Registrar Office for Kothandaraman Nagar?

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