Guideline Value for KOTHARI NAGAR (WARD -19)

Kothari Nagar (Ward -19) guideline value

The current guideline value of Kothari Nagar (Ward -19) 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, classified as Residential Class I Type - III.

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

The guideline value for Kothari Nagar has undergone several revisions over the years. The 2012 revision set the value at Rs 600 per sq.ft, which remained unchanged until the 2017 revision, where it dropped to Rs 402 per sq.ft, reflecting a decrease of 33%. However, the value saw a significant increase in the subsequent revisions, reaching Rs 600 per sq.ft in 2023 and then rising to Rs 660 per sq.ft in 2024, marking a 10% increase.

From 2017 to 2023, the guideline value increased by 49%, moving from Rs 402 per sq.ft to Rs 600 per sq.ft. Overall, from the 2012 revision to the current 2024 value, there has been a 10% increase, with the register having 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 in this area is Rs 990 per sq.ft, indicating that Kothari Nagar's current value is below this median.

• Kothari New Town Phase - I: Rs 660 per sq.ft (2024)
• Kothari Nagar (Ward -15): 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 -19)

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. It is important to note that 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)?

Kothari Nagar (Ward -19) is covered by the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002. 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 in the registration process when buying or selling property in Panangottur. It serves as a benchmark for determining the stamp duty and registration fees, ensuring that these charges are calculated based on the official guideline values set by the Registration Department.

When a property transaction occurs, the buyer must pay the applicable stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

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 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 -19)?

Kothari Nagar (Ward -19) is classified as Residential Class I Type - III under the Chengleput Joint II SRO.

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 manages the registration for Kothari Nagar (Ward -19)?

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