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 Ninna Karai village and falls under the Chengleput Joint II SRO, classified as Residential Class I Type - III.

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

Over the years, the guideline value for Kothari Nagar has seen several revisions. The 2012 revision set the value at Rs 600 per sq.ft, which remained unchanged until the 2017 revision when it dropped to Rs 402 per sq.ft. However, the value saw a significant increase in the 2023 revision, rising to Rs 600 per sq.ft, and further increased by 10% to Rs 660 per sq.ft in the 2024 revision. The register has no figures for the years 2002, 2003, and 2007 for this street.

From 2012 to 2017, there was a decrease of 33%, followed by a substantial increase of 49% from 2017 to 2023. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Ninna Karai

Ninna Karai village has a total of 449 streets under the Chengleput Joint II SRO, with guideline values ranging from Rs 440 to Rs 3,500 per sq.ft. The median value for these streets is Rs 1,100 per sq.ft, indicating that Kothari Nagar's 2024 figure of Rs 660 per sq.ft is below this median.

• Kothari Nagar (Ward -19): Rs 660 per sq.ft (2024)
• Korukkanthangal Salai (Ward -18): Rs 660 per sq.ft (2024)
• Kolatheswar Kovil Street (Kr): Rs 660 per sq.ft (2024)
• Kodikatha Kumaran Street (Ward -8): Rs 1,321 per sq.ft (2024)
• Kodikatha Kumaran 2nd Cross Street (Ward -8): Rs 1,321 per sq.ft (2024)
• Kavimani Street (Ward -7): Rs 1,321 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 rate of Rs 660 per sq.ft, the guideline value amounts to Rs 6,60,000. The stamp duty at 7% would be Rs 46,200, and the registration fee at 2% would be Rs 13,200, bringing the total to Rs 59,400. Please note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

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

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

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

The guideline value is an essential factor in property transactions in Ninna Karai, as it determines the minimum value at which a property can be registered. When buying or selling property, this value is used to calculate stamp duty and registration fees, ensuring that the transaction is legally compliant.

It is important for buyers and sellers to be aware of the current guideline value, as it can affect the overall cost of the property transaction. Understanding how this value is determined and revised can help in making informed decisions during the buying or selling process.

Frequently asked questions

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

The current guideline value of 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 increased to Rs 600 per sq.ft in 2023, and finally to Rs 660 per sq.ft in 2024.

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

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

What are the stamp duty and registration fees for properties in Kothari Nagar?

For a property valued at Rs 6,60,000, the stamp duty is Rs 46,200, and the registration fee is Rs 13,200, totaling Rs 59,400.

Which office handles registrations for Kothari Nagar (Ward -15)?

The Chengleput Joint II Sub Registrar Office handles registrations for Kothari Nagar (Ward -15), located at 10, Kancheepuram Main Road, Chengalpattu 603 002.