Guideline Value for KOTHARI NAGAR (WARD -19)

Kothari Nagar (Ward -19) guideline value

The current guideline value for Kothari Nagar (Ward -19) is Rs 661 per sq.ft, effective from 1 July 2024. This area falls under Peramanoor village and is governed by the Chengleput Joint II SRO, classified as Residential Class I Type - III.

How the guideline value of Kothari Nagar (Ward -19) 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 was then reduced to Rs 402 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 600 per sq.ft in the 2023 revision, and finally, it rose to Rs 661 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

From the 2017 revision to the 2023 revision, there was a notable increase of 49%. Overall, from 2012 to 2024, the guideline value has increased by 10%. It is important to note that the register has no 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, with guideline values ranging from Rs 550 to Rs 2,200 per sq.ft. The median value in this area is Rs 1,100 per sq.ft, placing Kothari Nagar's 2024 figure below this median.

• Kothari Nagar (Ward -15): 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)
• 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 rate, the guideline value is 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 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 Peramanoor

The guideline value is a crucial factor in the registration of property transactions in Peramanoor. It determines the minimum value on which stamp duty and registration fees are calculated, ensuring that all transactions are documented at a fair value.

When buying or selling property, the guideline value serves as a benchmark for both parties. It is essential for buyers and sellers to be aware of these values to ensure compliance with local regulations and to avoid any potential disputes during the registration process.

Frequently asked questions

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

The current guideline value for Kothari Nagar (Ward -19) is Rs 661 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years for Kothari Nagar (Ward -19)?

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 661 per sq.ft in 2024.

What is the land classification of Kothari Nagar (Ward -19)?

Kothari Nagar (Ward -19) is classified as Residential Class I Type - III, indicating its suitability for residential development.

What are the other streets in Peramanoor with similar guideline values?

Other streets in Peramanoor include Kothari Nagar (Ward -15) and Kolatheswar Kovil Street (Kr), both at Rs 661 per sq.ft in 2024, among others with varying rates.

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. This office handles registrations for properties in Kothari Nagar (Ward -19).