Guideline Value for KOTHARI NAGAR (WARD -19)

Kothari Nagar (Ward -19) guideline value

The current guideline value for Kothari Nagar (Ward -19) 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. The land classification for this street is Residential Class I Type - III.

How the guideline value of Kothari Nagar (Ward -19) has changed

The guideline value for Kothari Nagar (Ward -19) has undergone several revisions over the years. The 2012 revision set the value at Rs 600 per sq.ft, which was followed by a decrease to Rs 402 per sq.ft in the 2017 revision, marking a decline of 33%. However, the subsequent 2023 revision increased the value to Rs 600 per sq.ft, and the latest 2024 revision further raised it to Rs 660 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. Notably, the register has no figures for the years 2002, 2003, and 2007 for this street.

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 guideline value in this village is Rs 1,100 per sq.ft, placing Kothari Nagar's 2024 figure below that median.

• Kothari Nagar (Ward -15): 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)
• Krishtappa Street (Ward -17): Rs 660 per sq.ft (2024)

Stamp duty and registration fee for property in Kothari Nagar (Ward -19)

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, and the registration fee at 2% would be Rs 13,200, making the total cost for these fees Rs 59,400. It is important to 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 -19)?

The Kothari Nagar (Ward -19) area 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 a crucial factor when registering property in Ninna Karai. It determines the minimum value at which a property can be sold and is used to calculate the stamp duty and registration fees applicable during the transaction.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair value, preventing undervaluation. This process helps maintain transparency and accountability in real estate transactions within the region.

Frequently asked questions

What is the current guideline value of Kothari Nagar (Ward -19)?

The current guideline value of Kothari Nagar (Ward -19) 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 back to Rs 600 per sq.ft in 2023, and currently stands at Rs 660 per sq.ft in 2024.

What are the other streets with similar guideline values in Ninna Karai?

Other streets in Ninna Karai with a guideline value of Rs 660 per sq.ft include Kothari Nagar (Ward -15), Korukkanthangal Salai (Ward -18), Kolatheswar Kovil Street (Kr), and Krishtappa Street (Ward -17).

What is the registration fee for property in Kothari Nagar (Ward -19)?

The registration fee for property in Kothari Nagar (Ward -19) is calculated based on the guideline value. For example, for a property valued at Rs 6,60,000, the registration fee would be Rs 13,200.

Where can I find the Sub Registrar Office for Kothari Nagar (Ward -19)?

The Sub Registrar Office covering Kothari Nagar (Ward -19) is the Chengleput Joint II SRO, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.