Guideline Value for KOTHANDARAMAN STREET

Kothandaraman Street guideline value

The current guideline value of Kothandaraman Street is Rs 3,190 per sq.ft, effective from 1 July 2024. This street is located in Perumalagaram village and falls under the Chennai South Joint II SRO. The land classification for this area is Residential Class V Type - I.

How the guideline value of Kothandaraman Street has changed

The guideline value for Kothandaraman Street has seen several revisions over the years. The 2012 revision set the value at Rs 2,900 per sq.ft, which was a decrease of 33% from the previous revision in 2017, where the value was Rs 1,943 per sq.ft. The 2023 revision raised the value to Rs 2,900 per sq.ft, and the most recent 2024 revision increased it further to Rs 3,190 per sq.ft, marking a 10% increase from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. Notably, there are no figures available in the register for the years 2002, 2003, and 2007 for Kothandaraman Street.

Guideline values in Perumalagaram

In Perumalagaram, there are a total of 74 streets under the Chennai South Joint II SRO that carry a 2024 guideline value, ranging from Rs 825 to Rs 7,920 per sq.ft. The median guideline value is Rs 3,190 per sq.ft, which is equal to the current value of Kothandaraman Street.

• Kavitha Street: Rs 3,190 per sq.ft (2024)
• Kuppusamy Padmavathy Nagar: Rs 1,650 per sq.ft (2024)
• Loganathan Street: Rs 3,190 per sq.ft (2024)
• Mahalakshmi Nagar: Rs 3,190 per sq.ft (2024)
• Mahalakshmi Nagar Extension I: Rs 3,190 per sq.ft (2024)
• Mahalakshmi Nagar Extension II: Rs 3,190 per sq.ft (2024)

Stamp duty and registration fee for property in Kothandaraman Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,190 per sq.ft, the total guideline value would be Rs 31,90,000. The stamp duty at 7% would be Rs 2,23,300, and the registration fee at 2% would be Rs 63,800, bringing the total to Rs 2,87,100. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kothandaraman Street?

Kothandaraman Street is covered by the Chennai South Joint II 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 details.

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

The guideline value is used as a reference point for the registration of property transactions in Perumalagaram. When a property is sold, the buyer and seller must adhere to the guideline value set for that specific area to determine applicable fees and duties.

This value plays a crucial role in calculating the stamp duty and registration fees, ensuring that both parties are aware of the financial obligations involved in the transaction.

Frequently asked questions

What is the current guideline value of Kothandaraman Street?

The current guideline value of Kothandaraman Street is Rs 3,190 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,900 per sq.ft in 2023 to Rs 3,190 per sq.ft in 2024, which is a 10% increase. The value also rose from Rs 1,943 per sq.ft in 2017 to Rs 2,900 per sq.ft in 2023, marking a 49% increase.

What is the land classification for Kothandaraman Street?

Kothandaraman Street is classified as Residential Class V Type - I, indicating its suitability for residential development.

What are the stamp duty and registration fees for properties in Kothandaraman Street?

For a property valued at Rs 31,90,000, the stamp duty would be Rs 2,23,300 and the registration fee would be Rs 63,800, totaling Rs 2,87,100. The duty is charged on the higher of the guideline value or the sale price.

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

The Sub Registrar Office covering Kothandaraman Street is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035. You can find more details about your SRO online.