Guideline Value for KOTHARI NAGAR (WARD -15)

Kothari Nagar (Ward -15) guideline value

The current guideline value of Kothari Nagar (Ward -15) is Rs 660 per sq.ft, effective from 1 July 2024. This area is located in Panangottur village and falls under the Chengleput Joint II SRO. The land classification for this street is 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 (Ward -15) has seen several revisions. The 2012 revision set the value at Rs 600 per sq.ft, which remained unchanged until the 2017 revision, where it decreased to Rs 402 per sq.ft. Following this, the 2023 revision increased the value to Rs 600 per sq.ft, and the most recent 2024 revision raised it further to Rs 660 per sq.ft, reflecting a 10% increase from the previous year.

In summary, the changes between revisions show a significant increase of 49% from 2017 to 2023 and a 10% overall increase from 2012 to 2024. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Panangottur

In Panangottur, there are 419 streets under the Chengleput Joint II SRO, with the 2024 guideline values ranging from Rs 440 to Rs 2,200 per sq.ft. The median guideline value for the village is Rs 990 per sq.ft, placing Kothari Nagar (Ward -15) below this median.

• Kothari Nagar (Ward -19): Rs 660 per sq.ft (2024)
• Kothari New Town Phase - I: 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)

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 would be Rs 6,60,000. The stamp duty at 7% would amount to Rs 46,200, and the registration fee at 2% would be Rs 13,200, bringing the total fees to Rs 59,400. 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 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 Panangottur

The guideline value is a crucial factor when buying or selling property in Panangottur, as it determines the minimum value at which a property can be registered. This value is used to calculate the stamp duty and registration fees, ensuring that all transactions are conducted transparently and fairly.

When a property is sold, the buyer must pay the stamp duty based on the higher of the guideline value or the sale price. This ensures that the government receives the appropriate revenue from property transactions, reflecting the value of the property in the current market.

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 this area?

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

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

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