Guideline Value for KOTHARI NAGAR (WARD -15)

Kothari Nagar (Ward -15) guideline value

The current guideline value of Kothari Nagar (Ward -15) is Rs 661 per sq.ft, effective from 1 July 2024. This area is located in Peramanoor 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

The guideline value for Kothari Nagar has undergone several revisions over the years. The earliest recorded figure is from 2012, where the guideline value was Rs 600 per sq.ft. This remained the same until the next revision in 2017, which saw a decrease to Rs 402 per sq.ft, marking a decline of 33%. The value then increased significantly to Rs 600 per sq.ft in 2023, followed by a further increase to Rs 661 per sq.ft in 2024, representing a rise of 10% from the previous year.

From 2017 to 2023, there was a substantial increase of 49%. Overall, comparing the figures from 2012 to 2024, the guideline value has increased by 10%. The register does not have figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Peramanoor

In Peramanoor, there are 430 streets under the Chengleput Joint II SRO that carry a 2024 guideline value ranging from Rs 550 to Rs 2,200 per sq.ft, with a median value of Rs 1,100 per sq.ft. Kothari Nagar's 2024 figure of Rs 661 per sq.ft is below this median.

• Kothari Nagar (Ward -19): Rs 661 per sq.ft (2024)
• Korukkanthangal Salai (Ward -18): Rs 660 per sq.ft (2024)
• Kolatheswar Kovil Street (Kr): Rs 661 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 rate of Rs 661 per sq.ft, the guideline value amounts to Rs 6,61,000. The stamp duty at 7% would be Rs 46,270, and the registration fee at 2% would be Rs 13,220, totaling Rs 59,490. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information on calculating fees, you can use the stamp duty and registration fee calculator.

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

Kothari Nagar (Ward -15) falls under 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 details.

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

The guideline value is an essential factor during property registration in Peramanoor. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when a property is bought or sold.

When a buyer or seller approaches the registration office, the guideline value is used to calculate the applicable fees based on the property's size and the current rate. This ensures that the transaction is processed according to the established regulations.

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 661 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. It then increased to Rs 600 per sq.ft in 2023 and is now Rs 661 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 purposes.

Where can I find the Chengleput Joint II Sub Registrar Office?

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

How is stamp duty calculated for properties in Kothari Nagar (Ward -15)?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 6,61,000, the stamp duty at 7% would be Rs 46,270.