Guideline Value for KOWSALYA NAGAR

Kowsalya Nagar guideline value

The current guideline value of Kowsalya Nagar is Rs 1,980 per sq.ft, effective from the 2024 revision. This area is located in Nanmangalam village, under the Pallavaram SRO, and is classified as Residential Class I Type - III.

How the guideline value of Kowsalya Nagar has changed

The guideline value of Kowsalya Nagar has seen significant changes over the years. In the 2017 revision, the value was Rs 1,206 per sq.ft. This figure increased to Rs 1,800 per sq.ft in the 2023 revision, marking a rise of 49%. The latest revision in 2024 set the value at Rs 1,980 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, there has been a substantial increase of 64%. It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Nanmangalam

Nanmangalam village has a total of 139 streets under the Pallavaram SRO that carry a 2024 guideline value, ranging from Rs 1,960 to Rs 3,850 per sq.ft. The median value for these streets is Rs 2,750 per sq.ft, placing Kowsalya Nagar's 2024 figure below that median.

• Kovalan Street: Rs 1,960 per sq.ft (2024)
• Krishna Nagar: Rs 2,750 per sq.ft (2024)
• Kiyyur Nisha Avenue: Rs 2,750 per sq.ft (2024)
• K.B.Nagar: Rs 3,300 per sq.ft (2024)
• Kayathri Nagar: Rs 1,980 per sq.ft (2024)
• Kavingar Kannadasan Street: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Kowsalya Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,980 per sq.ft, the total guideline value amounts to Rs 19,80,000. The stamp duty at 7% would be Rs 1,38,600, while the registration fee at 2% would be Rs 39,600, bringing the total fees to Rs 1,78,200. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kowsalya Nagar?

Kowsalya Nagar falls under 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 more information.

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

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

When a property is registered, 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 government receives the correct amount of revenue from property transactions.

Frequently asked questions

What is the current guideline value of Kowsalya Nagar?

The current guideline value of Kowsalya Nagar is Rs 1,980 per sq.ft, effective from July 1, 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 1,206 per sq.ft in 2017 to Rs 1,980 per sq.ft in 2024, marking an overall increase of 64% over this period.

What are the stamp duty and registration fees for property transactions?

For a property valued at Rs 19,80,000, the stamp duty would be Rs 1,38,600 and the registration fee would be Rs 39,600, totaling Rs 1,78,200.

Which office handles property registrations in Kowsalya Nagar?

The Pallavaram Sub Registrar Office handles property registrations for Kowsalya Nagar, located at 7th Main Road, New Colony, Chromepet, Chennai.

What is the significance of the guideline value in property transactions?

The guideline value is used to determine the stamp duty and registration fees when buying or selling property. It ensures that the correct amount is paid based on the higher of the guideline value or the sale price.