Guideline Value for KOTHARI NAGAR Annex

KOTHARI NAGAR Annex guideline value

The current guideline value of KOTHARI NAGAR Annex is Rs 4,400 per sq.ft, effective from 1 July 2024. This area is located in Ramapuram village and falls under the Chennai South Joint II SRO. The land classification for this area is Residential Special Type - I.

How the guideline value of KOTHARI NAGAR Annex has changed

The guideline value for KOTHARI NAGAR Annex has seen significant changes over the years. In 2002, the guideline value was Rs 369 per sq.ft. This increased to Rs 457 per sq.ft in 2003, marking a rise of 24%. Following that, in 2007, the value jumped to Rs 1,100 per sq.ft, which is an increase of 141%. The years 2012 and 2017 saw fluctuations, with the value at Rs 4,000 per sq.ft in 2012, then decreasing to Rs 2,680 per sq.ft in 2017, a decline of 33%. From 2017 to 2023, the value rose significantly to Rs 4,000 per sq.ft, and then to Rs 4,400 per sq.ft in 2024, reflecting a 10% increase.

Overall, from 2002 to 2024, the guideline value has increased by 1,092%. The register has no figures for the years not listed, indicating that the changes in those years were not applicable to this street.

Guideline values in Ramapuram

In Ramapuram, there are 394 streets under the Chennai South Joint II SRO that have a 2024 guideline value ranging from Rs 1,950 to Rs 6,600 per sq.ft, with a median of Rs 3,100 per sq.ft. The guideline value for KOTHARI NAGAR Annex is above this median.

• Kothari Nagar 1 to 9 Street: Rs 4,400 per sq.ft (2024)
• Kothari Nagar New Street: Rs 4,400 per sq.ft (2024)
• Kothari Nagar & 1 To 5th Street: Rs 4,400 per sq.ft (2024)
• K.P.Nagar: Rs 3,550 per sq.ft (2024)
• K.P.Nagar 2nd Cross Street: Rs 3,100 per sq.ft (2024)
• K.P.Nagar 2nd Street: Rs 3,100 per sq.ft (2024)

Stamp duty and registration fee for property in KOTHARI NAGAR Annex

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value amounts to Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, making the total cost for these fees Rs 3,96,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can also use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers KOTHARI NAGAR Annex?

The KOTHARI NAGAR Annex is covered by the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, fanepet Nandanam, Chennai -600 035. For more information, you can find your SRO.

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

The guideline value is a crucial factor when it comes to property transactions in Ramapuram. It serves as a benchmark for determining the minimum value at which a property can be registered. This ensures that the government receives the appropriate stamp duty and registration fees based on the guideline value or the sale price, whichever is higher.

When buying or selling property, it is essential to be aware of the guideline value, as it can significantly impact the overall costs involved in the transaction. Buyers should ensure that they are informed about the current guideline value to avoid any discrepancies during registration.

Frequently asked questions

What is the current guideline value of KOTHARI NAGAR Annex?

The current guideline value of KOTHARI NAGAR Annex is Rs 4,400 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed significantly from Rs 369 per sq.ft in 2002 to Rs 4,400 per sq.ft in 2024, representing an overall increase of 1,092% over the years.

What are the stamp duty and registration fees for properties in KOTHARI NAGAR Annex?

For a property valued at Rs 44,00,000, the stamp duty would be Rs 3,08,000, and the registration fee would be Rs 88,000, totaling Rs 3,96,000.

Which office handles registrations for KOTHARI NAGAR Annex?

The Chennai South Joint II Sub Registrar Office handles registrations for KOTHARI NAGAR Annex, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, fanepet Nandanam, Chennai -600 035.

How is the guideline value determined for properties in Ramapuram?

The guideline value is determined based on various factors, including land classification and historical revisions. It serves as a benchmark for property transactions to ensure appropriate fees are collected during registration.