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 Sattamangalam 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

Over the years, the guideline value for Kothari Nagar (Ward -19) has seen several revisions. The 2024 revision sets the value at Rs 660 per sq.ft, an increase from Rs 600 per sq.ft in the 2023 revision, representing a 10% rise. Prior to that, the 2017 revision listed the value at Rs 402 per sq.ft, which shows a significant increase of 49% when compared to the 2023 figure. The 2012 revision also recorded a value of Rs 600 per sq.ft, indicating a decrease of 33% from the 2017 revision. Overall, from the 2012 to 2024 period, the guideline value has increased by 10%.

It is important to note that there are no registered figures for Kothari Nagar in the years 2002, 2003, and 2007. The 2012 revision was the first recorded figure for this street, followed by the 2017, 2023, and the latest 2024 revisions.

Guideline values in Sattamangalam

In Sattamangalam village, there are 425 streets under the Chengleput Joint II SRO that have a 2024 guideline value ranging from Rs 440 to Rs 2,200 per sq.ft. The median guideline value in this area is Rs 1,100 per sq.ft, which places Kothari Nagar (Ward -19) below this median value.

• 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)
• Krishtappa Street (Ward -17): Rs 550 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. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kothari Nagar (Ward -19)?

The Sub Registrar Office that covers Kothari Nagar (Ward -19) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Sattamangalam. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that transactions are recorded accurately and transparently.

When a property is sold, the guideline value is used to calculate the applicable stamp duty and registration fees. Buyers should be aware that these fees are based on the higher of the guideline value or the actual sale price, which can impact the overall cost of the transaction.

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 2023 to Rs 660 per sq.ft in 2024, a 10% increase. It was Rs 402 per sq.ft in 2017, showing a 49% increase from the 2023 figure.

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

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

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, Chengalpattu registration zone.

How is stamp duty calculated in Kothari Nagar (Ward -19)?

Stamp duty in Kothari Nagar (Ward -19) is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 6,60,000, the stamp duty would be Rs 46,200 at a rate of 7%.