Guideline Value for KOWSALYA GARDEN

Kowsalya Garden guideline value

The current guideline value for Kowsalya Garden, located in Pakkam village under the Madurandakam SRO, is Rs 350 per sq.ft. This value is effective from the 2024 revision, which was implemented on 1 July 2024. The land classification for this area is Mixed Special Type - II.

How the guideline value of Kowsalya Garden has changed

The guideline value for Kowsalya Garden has seen several changes over the years. The 2012 revision set the value at Rs 350 per sq.ft, which remained unchanged until the 2024 revision. In contrast, the 2017 revision recorded a lower value of Rs 234 per sq.ft, marking a decrease of 33% from the previous figure. However, from 2017 to 2023, the value increased by 50%, bringing it back to Rs 350 per sq.ft. Notably, there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

Overall, from 2012 to 2024, the guideline value has remained constant at Rs 350 per sq.ft. The 2023 revision also maintained the same rate, indicating no change from the previous year. This consistency reflects the stability of the guideline value in Kowsalya Garden over the recent years.

Guideline values in Pakkam

In Pakkam, there are 13 streets under the Madurandakam SRO that carry a 2024 guideline value ranging from Rs 200 to Rs 350 per sq.ft. The median value for these streets is Rs 300 per sq.ft, and Kowsalya Garden's 2024 figure is above that median.

• J J Nagar: Rs 200 per sq.ft (2024)
• Esic Employes Union Golden Juble Nagar: Rs 300 per sq.ft (2024)
• Assai Nagar Phase-6a: Rs 300 per sq.ft (2024)
• Asai Nagar: Rs 300 per sq.ft (2024)
• Akshaya Nagar: Rs 300 per sq.ft (2024)
• Aasai Nagar Phase-III: Rs 300 per sq.ft (2024)

Stamp duty and registration fee for property in Kowsalya Garden

For a 1,000 sq.ft plot at the current guideline value of Rs 350 per sq.ft, the total guideline value amounts to Rs 3,50,000. The stamp duty, calculated at 7%, would be Rs 24,500, while the registration fee at 2% would be Rs 7,000. Together, the total cost for stamp duty and registration fee would be Rs 31,500. It is important to note that duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kowsalya Garden?

Kowsalya Garden falls under the jurisdiction of 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 Pakkam

The guideline value is a crucial factor during the registration process when buying or selling property in Pakkam. It serves as a benchmark for determining the value of the property and is used to calculate the applicable stamp duty and registration fees.

When a property is registered, the guideline value is compared to the sale price, and the higher amount is used to assess the stamp duty. This ensures that the government receives the appropriate revenue based on the property's value as determined by the guideline value.

Frequently asked questions

What is the current guideline value of Kowsalya Garden?

The current guideline value of Kowsalya Garden is Rs 350 per sq.ft, effective from the 2024 revision.

How has the guideline value changed over the years?

The guideline value has changed several times, with the 2012 revision at Rs 350 per sq.ft, a decrease to Rs 234 per sq.ft in 2017, and then an increase back to Rs 350 per sq.ft in 2023 and 2024.

What other streets have guideline values in Pakkam?

Other streets in Pakkam include J J Nagar at Rs 200 per sq.ft, and several streets at Rs 300 per sq.ft, including Esic Employes Union Golden Juble Nagar, Assai Nagar Phase-6a, Asai Nagar, Akshaya Nagar, and Aasai Nagar Phase-III.

What are the stamp duty and registration fees for Kowsalya Garden?

The stamp duty for a 1,000 sq.ft plot in Kowsalya Garden would be Rs 24,500, and the registration fee would be Rs 7,000, totaling Rs 31,500.

Where is the Sub Registrar Office for Kowsalya Garden located?

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