Guideline Value for KOTTANAKARA STREET

Kottanakara Street guideline value

The current guideline value of Kottanakara Street is Rs 1,110 per sq.ft, effective from 1 July 2024. This street is located in Mathuranthagam village, under the Madurandakam SRO. The land classification for this area is Residential Special Type - I.

How the guideline value of Kottanakara Street has changed

The guideline value for Kottanakara Street has undergone several revisions over the years. In 2007, the value was set at Rs 175 per sq.ft, which increased significantly to Rs 1,000 per sq.ft in 2012. However, it decreased to Rs 670 per sq.ft in 2017 before rising to Rs 1,000 per sq.ft again in 2023. The most recent revision in 2024 has set the value at Rs 1,110 per sq.ft.

In terms of percentage changes, the value increased by 471% from 2007 to 2012, decreased by 33% from 2012 to 2017, and then increased by 49% from 2017 to 2023. The jump from 2023 to 2024 is an increase of 11%. Overall, from 2007 to 2024, the guideline value has risen by 534%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Mathuranthagam

In Mathuranthagam village, there are 109 streets under the Madurandakam SRO that carry a 2024 guideline value ranging from Rs 440 to Rs 1,480 per sq.ft, with a median value of Rs 1,100 per sq.ft. Kottanakara Street's 2024 guideline value of Rs 1,110 per sq.ft is above this median.

• Krishnapriya Nagar: Rs 1,110 per sq.ft (2024)
• Kudumi Street: Rs 1,110 per sq.ft (2024)
• Kushee Nagar: Rs 1,480 per sq.ft (2024)
• Kutcheri Street: Rs 1,100 per sq.ft (2024)
• Maharishi Nagar: Rs 1,110 per sq.ft (2024)
• Mahaveer Nagar: Rs 1,110 per sq.ft (2024)

Stamp duty and registration fee for property in Kottanakara Street

For a 1,000 sq.ft plot at the current rate of Rs 1,110 per sq.ft, the guideline value amounts to Rs 11,10,000. The stamp duty at 7% would be Rs 77,700, and the registration fee at 2% would be Rs 22,200, totaling Rs 99,900. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kottanakara Street?

The Sub Registrar Office that covers Kottanakara Street is the Madurandakam Sub Registrar Office, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Mathuranthagam. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value when negotiating sale prices, as it directly affects the stamp duty and registration fees payable during the transaction.

When a property is sold, the buyer typically pays the stamp duty based on the higher of the guideline value or the sale price. This ensures that the state revenue is secured based on the property's assessed value, as determined by the guideline value register.

Frequently asked questions

What is the current guideline value of Kottanakara Street?

The current guideline value of Kottanakara Street is Rs 1,110 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 175 per sq.ft in 2007 to Rs 1,110 per sq.ft in 2024, showing an overall increase of 534% over the years.

What is the land classification for Kottanakara Street?

Kottanakara Street is classified as Residential Special Type - I.

Where is the Madurandakam Sub Registrar Office located?

The Madurandakam Sub Registrar Office is located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone.

How is the stamp duty calculated for properties in Kottanakara Street?

The stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft property at the current guideline value, the total stamp duty would be Rs 77,700.