Guideline Value for KOTHARI AVENUE

Kothari Avenue guideline value

The current guideline value of Kothari Avenue is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in the village of Sholinganallur - 1 under the Neelankarai SRO, and it falls under the land classification of Residential Special Type - V.

How the guideline value of Kothari Avenue has changed

The guideline value for Kothari Avenue has seen significant changes over the years. In the 2017 revision, the guideline value was Rs 2,680 per sq.ft. This increased to Rs 4,000 per sq.ft in the 2023 revision, marking a 49% rise. The most recent revision in 2024 saw another increase to Rs 4,400 per sq.ft, which is a 10% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. It is noteworthy that there are no figures available for the years 2002, 2003, 2007, and 2012 for Kothari Avenue.

Guideline values in Sholinganallur - 1

In Sholinganallur - 1, there are 754 streets under the Neelankarai SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 8,800 per sq.ft, with a median of Rs 2,200 per sq.ft. Kothari Avenue's 2024 figure of Rs 4,400 per sq.ft is above this median.

• K.P.V.Nagar: Rs 1,700 per sq.ft (2024)
• Krishna Vrundavan Road: Rs 2,800 per sq.ft (2024)
• K.Thoppu Cross Street: Rs 2,200 per sq.ft (2024)
• K.Thoppu School Street: Rs 2,200 per sq.ft (2024)
• K.T.K. Town: Rs 4,400 per sq.ft (2024)
• K.T.K.TOWN 1st STREET: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Kothari Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value would be Rs 44,00,000. The stamp duty at 7% would amount to Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, bringing the total to Rs 3,96,000. It is important to note that 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 Kothari Avenue?

Kothari Avenue falls under the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for further assistance.

How the guideline value is used when you buy or sell in Sholinganallur - 1

The guideline value is a crucial factor when registering property transactions in Sholinganallur - 1. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives appropriate stamp duty and registration fees.

When buying or selling property, the guideline value helps both buyers and sellers understand the legal and financial implications of the transaction. It is essential for both parties to be aware of the current guideline value to avoid disputes and ensure compliance with local regulations.

Frequently asked questions

What is the current guideline value of Kothari Avenue?

The current guideline value of Kothari Avenue is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 2,680 per sq.ft in 2017 to Rs 4,400 per sq.ft in 2024, reflecting a total increase of 64% over these years.

What is the land classification for Kothari Avenue?

Kothari Avenue is classified as Residential Special Type - V, indicating its suitability for residential development.

Where is the Neelankarai Sub Registrar Office located?

The Neelankarai Sub Registrar Office is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

How is the stamp duty calculated for properties in Kothari Avenue?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value would incur a stamp duty of Rs 3,08,000.