Guideline Value for KOWSALYA GARDEN

Kowsalya Garden guideline value

The current guideline value of Kowsalya Garden in Uoonamali village is Rs 350 per sq.ft, effective from 1 July 2024. This area falls under the Madurandakam SRO and is classified as Residential Class I Type - II.

How the guideline value of Kowsalya Garden has changed

Over the years, the guideline value for Kowsalya Garden has seen several revisions. The 2012 revision set the value at Rs 350 per sq.ft, which remained unchanged in the 2017 revision. However, from 2017 to 2023, the value increased by 50% to Rs 350 per sq.ft. The latest revision in 2024 has maintained the same rate of Rs 350 per sq.ft, indicating no change from the previous year.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for this street. The 2017 revision saw a decrease of 33% from the 2012 figure, but overall, from 2012 to 2024, the guideline value has remained steady with a 0% change.

Guideline values in Uoonamali

In Uoonamali, there are 12 streets under the Madurandakam SRO that carry a 2024 guideline value, ranging from Rs 200 to Rs 701 per sq.ft. The median value for these streets is Rs 200 per sq.ft, placing Kowsalya Garden's 2024 value above this median.

• Kousalya Garden Phase-III: Rs 350 per sq.ft (2024)
• Ram Nagar: Rs 200 per sq.ft (2024)
• Anantham Nagar: Rs 200 per sq.ft (2024)
• Anandh Nagar: Rs 200 per sq.ft (2024)
• Saravana Nagar: Rs 701 per sq.ft (2024)
• Srinivasa Avenue: Rs 200 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 at 7% would be Rs 24,500, while the registration fee at 2% would be Rs 7,000, bringing the total cost for these fees to Rs 31,500. 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 Kowsalya Garden?

The Kowsalya Garden area is covered by the Madurandakam Sub Registrar Office, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone. For further assistance, you can find your SRO.

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

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

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

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 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 350 per sq.ft since 2012, with a significant increase of 50% from Rs 234 per sq.ft in 2017 to Rs 350 per sq.ft in 2023, and it has stayed the same in 2024.

What is the land classification of Kowsalya Garden?

Kowsalya Garden is classified as Residential Class I Type - II, indicating its suitability for residential development.

Where can I find the Madurandakam Sub Registrar Office?

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

How is stamp duty calculated for properties in Kowsalya Garden?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a property valued at Rs 3,50,000 would incur a stamp duty of Rs 24,500 at 7%.