Guideline Value for KOTHARI NAGAR PHASE - II

Kothari Nagar Phase - II guideline value

The current guideline value of Kothari Nagar Phase - II is Rs 550 per sq.ft, effective from 1 July 2024. This area is located in Thirukkachur - 1 village, under the Chengleput Joint II SRO, and is classified as Residential Class I Type - II.

How the guideline value of Kothari Nagar Phase - II has changed

The guideline value for Kothari Nagar Phase - II has seen several revisions over the years. The most recent revision in 2024 set the value at Rs 550 per sq.ft, an increase from the 2023 figure of Rs 500 per sq.ft, which represents a change of +10%. Prior to 2023, there are no figures available for the years 2017, 2012, 2007, 2003, and 2002 for this street.

In summary, the only available figures for Kothari Nagar Phase - II are from the 2023 and 2024 revisions. The 2024 guideline value is currently below the median of Rs 660 per sq.ft for the 86 streets in Thirukkachur - 1 under the Chengleput Joint II SRO.

Guideline values in Thirukkachur - 1

In Thirukkachur - 1, there are 86 streets with guideline values ranging from Rs 385 to Rs 3,300 per sq.ft. Kothari Nagar Phase - II's 2024 guideline value is Rs 550 per sq.ft, which is below the median value of Rs 660 per sq.ft. The following are the guideline values for other streets in Thirukkachur - 1:

• Kothari Nagar Phase - I: Rs 550 per sq.ft (2024)
• Kothari Nagar Phase - 3: Rs 550 per sq.ft (2024)
• Kulakarai Street: Rs 385 per sq.ft (2024)
• Kasthuri Nagar: Rs 1,474 per sq.ft (2024)
• Kurinchi Nagar: Rs 660 per sq.ft (2024)
• Kannagi Street: Rs 550 per sq.ft (2024)

Stamp duty and registration fee for property in Kothari Nagar Phase - II

For a 1,000 sq.ft plot at the current guideline value of Rs 550 per sq.ft, the total guideline value would be Rs 5,50,000. The stamp duty at 7% would amount to Rs 38,500, while the registration fee at 2% would be Rs 11,000, bringing the total fees together to Rs 49,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kothari Nagar Phase - II?

The Sub Registrar Office that covers Kothari Nagar Phase - II is 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 details.

How the guideline value is used when you buy or sell in Thirukkachur - 1

The guideline value is a crucial factor in the registration process when buying or selling property in Thirukkachur - 1. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the state government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Kothari Nagar Phase - II?

The current guideline value of Kothari Nagar Phase - II is Rs 550 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 500 per sq.ft in 2023 to Rs 550 per sq.ft in 2024, representing a +10% increase. There are no figures available for the years 2017, 2012, 2007, 2003, and 2002 for this street.

What is the land classification of Kothari Nagar Phase - II?

Kothari Nagar Phase - II is classified as Residential Class I Type - II. This classification is important for understanding the potential uses of the land.

Where can I find the Sub Registrar Office for Kothari Nagar Phase - II?

The Chengleput Joint II Sub Registrar Office covers Kothari Nagar Phase - II and is located at 10, Kancheepuram Main Road, Chengalpattu 603 002.

How is stamp duty calculated for properties in Kothari Nagar Phase - II?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 38,500 at 7%.