Guideline Value for KOTHAVARI STREET

Kothavari Street guideline value

The current guideline value of Kothavari Street in Nemilicherry village is Rs 2,160 per sq.ft, effective from 1 July 2024. This street falls under the Pallavaram SRO and is classified as Residential Class II Type - I.

How the guideline value of Kothavari Street has changed

The guideline value for Kothavari Street has seen several revisions over the years. The 2012 revision recorded a value of Rs 2,000 per sq.ft, which decreased to Rs 1,340 per sq.ft in 2017. Following this, the 2023 revision increased the value to Rs 2,000 per sq.ft, and the latest 2024 revision set it at Rs 2,160 per sq.ft. The changes between these revisions show a decrease of 33% from 2012 to 2017, followed by a significant increase of 49% from 2017 to 2023, and an 8% increase from 2023 to 2024.

It is important to note that there are no figures available for Kothavari Street in the revisions from 2002, 2003, and 2007. Overall, from 2012 to 2024, the guideline value has increased by 8%.

Guideline values in Nemilicherry

In Nemilicherry, there are 172 streets under the Pallavaram SRO with a 2024 guideline value ranging from Rs 1,100 to Rs 3,300 per sq.ft. The median guideline value is Rs 2,160 per sq.ft, which matches the current guideline value of Kothavari Street.

• Kavery Street: Rs 2,160 per sq.ft (2024)
• Kulakkarai Street: Rs 2,160 per sq.ft (2024)
• Kattabomman Street: Rs 2,160 per sq.ft (2024)
• Kumaran Street: Rs 2,200 per sq.ft (2024)
• Kumarapuram: Rs 2,750 per sq.ft (2024)
• Kuppan Street: Rs 2,160 per sq.ft (2024)

Stamp duty and registration fee for property in Kothavari Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,160 per sq.ft, the total guideline value would be Rs 21,60,000. The stamp duty at 7% would be Rs 1,51,200, and the registration fee at 2% would be Rs 43,200, making the total fees Rs 1,94,400. Please note that the duty is charged on the higher of the guideline value and the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kothavari Street?

Kothavari Street is covered by the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for further assistance.

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

The guideline value is a crucial factor during property registration in Nemilicherry. It serves as a benchmark for determining the minimum value at which a property can be sold and is used to calculate the applicable stamp duty and registration fees.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair price, preventing undervaluation. This helps maintain transparency in the real estate market and ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Kothavari Street?

The current guideline value of Kothavari Street is Rs 2,160 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then increased to Rs 2,000 per sq.ft in 2023, and is now Rs 2,160 per sq.ft in 2024.

What is the land classification for Kothavari Street?

Kothavari Street is classified as Residential Class II Type - I.

Where can I find the registration office for Kothavari Street?

The registration office for Kothavari Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone.

How is stamp duty calculated for properties in Kothavari Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current rate, the total guideline value is Rs 21,60,000, leading to a stamp duty of Rs 1,51,200.