Guideline Value for KOTHARI NAGAR (WARD -15)

Kothari Nagar (Ward -15) guideline value

The current guideline value for Kothari Nagar (Ward -15) is Rs 660 per sq.ft, effective from 1 July 2024. This area is located in Kattankollatur village and falls under the Chengleput Joint II SRO. The land classification for this area is Residential Class I Type - III.

How the guideline value of Kothari Nagar (Ward -15) has changed

The guideline value for Kothari Nagar has seen several revisions over the years. In 2012, the value was set at Rs 600 per sq.ft, which remained unchanged until the next revision in 2017, where it decreased to Rs 402 per sq.ft, reflecting a drop of 33%. The value then rose significantly to Rs 600 per sq.ft in 2023, marking a 49% increase. The most recent revision in 2024 has set the guideline value at Rs 660 per sq.ft, representing a 10% increase from the previous year.

It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Kattankollatur

Kattankollatur village has a total of 453 streets under the Chengleput Joint II SRO, with guideline values ranging from Rs 440 to Rs 3,612 per sq.ft. The median guideline value in this village is Rs 1,100 per sq.ft, indicating that the guideline value for Kothari Nagar (Ward -15) is below this median.

• Kothari Nagar (Ward -19): Rs 660 per sq.ft (2024)
• Korukkanthangal Salai (Ward -18): Rs 550 per sq.ft (2024)
• Kolatheswar Kovil Street (Kr): Rs 660 per sq.ft (2024)
• Kodikatha Kumaran Street (Ward -8): Rs 1,320 per sq.ft (2024)
• Kodikatha Kumaran 2nd Cross Street (Ward -8): Rs 1,320 per sq.ft (2024)
• Kavimani Street (Ward -7): Rs 1,320 per sq.ft (2024)

Stamp duty and registration fee for property in Kothari Nagar (Ward -15)

For a 1,000 sq.ft plot at the current guideline value of Rs 660 per sq.ft, the total guideline value amounts to Rs 6,60,000. The stamp duty at 7% would be Rs 46,200, while the registration fee at 2% would be Rs 13,200, bringing the total fees together to Rs 59,400. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kothari Nagar (Ward -15)?

The Sub Registrar Office that covers Kothari Nagar (Ward -15) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration of property transactions in Kattankollatur. 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 based on this value.

When buying or selling property, the guideline value is used to calculate the applicable fees, which are based on either the guideline value or the sale price, whichever is higher. This ensures transparency and fairness in the property registration process.

Frequently asked questions

What is the current guideline value for Kothari Nagar (Ward -15)?

The current guideline value for Kothari Nagar (Ward -15) is Rs 660 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2012 to Rs 402 per sq.ft in 2017, then to Rs 600 per sq.ft in 2023, and finally to Rs 660 per sq.ft in 2024.

What is the land classification for Kothari Nagar (Ward -15)?

Kothari Nagar (Ward -15) is classified as Residential Class I Type - III, indicating its suitability for residential development.

What is the median guideline value in Kattankollatur?

The median guideline value in Kattankollatur village is Rs 1,100 per sq.ft, which is higher than the guideline value for Kothari Nagar (Ward -15).

Where is the Chengleput Joint II Sub Registrar Office located?

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone.