Guideline Value for Kantha Kottam Nagar

Kantha Kottam Nagar guideline value

The current guideline value of Kantha Kottam Nagar is Rs 330 per sq.ft, effective from 1 July 2024. This area is located in Payasampakkam village under the Redhills SRO, classified as Residential Class III Type - I.

How the guideline value of Kantha Kottam Nagar has changed

The guideline value for Kantha Kottam Nagar has seen several revisions over the years. In 2003, the guideline value was Rs 21 per sq.ft, which increased to Rs 100 per sq.ft in 2007, marking a significant rise of 376%. The value then jumped to Rs 300 per sq.ft in 2012, reflecting a 200% increase. However, it decreased to Rs 201 per sq.ft in 2017, a decline of 33%. The value rose again to Rs 300 per sq.ft in 2023, and then to Rs 330 per sq.ft in 2024, which is a 10% increase from the previous year.

Overall, from 2003 to 2024, the guideline value has increased by 1,471%. It is important to note that the register has no figure for Kantha Kottam Nagar in 2002.

Guideline values in Payasampakkam

In Payasampakkam, there are 20 streets under the Redhills SRO that carry a 2024 guideline value ranging from Rs 330 to Rs 660 per sq.ft, with a median value of Rs 550 per sq.ft. Kantha Kottam Nagar's 2024 figure is below this median.

• Karumari Nagar: Rs 550 per sq.ft (2024)
• Karumari Nagar Extn: Rs 550 per sq.ft (2024)
• Kumarajan Nagar Annex - 1: Rs 550 per sq.ft (2024)
• Kumaran Nagar: Rs 550 per sq.ft (2024)
• Kumararajan Nagar Extn.: Rs 550 per sq.ft (2024)
• Kumar Rajan Nagar (A) Mahaveer Estate: Rs 550 per sq.ft (2024)

Stamp duty and registration fee for property in Kantha Kottam Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 330 per sq.ft, the total guideline value would be Rs 3,30,000. The stamp duty at 7% would amount to Rs 23,100, while the registration fee at 2% would be Rs 6,600, totaling Rs 29,700. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Kantha Kottam Nagar?

The Sub Registrar Office that covers Kantha Kottam Nagar is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more details.

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

The guideline value is a crucial factor in property transactions in Payasampakkam. It is used to determine the stamp duty and registration fees that buyers must pay when purchasing property. This ensures that the government receives appropriate revenue from property transactions.

When selling property, the guideline value helps establish a baseline for the sale price. Buyers and sellers often refer to this value to negotiate and finalize the terms of the sale, ensuring transparency in the transaction process.

Frequently asked questions

What is the current guideline value of Kantha Kottam Nagar?

The current guideline value of Kantha Kottam Nagar is Rs 330 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 21 per sq.ft in 2003 to Rs 330 per sq.ft in 2024, reflecting an overall increase of 1,471% over this period.

What is the median guideline value for streets in Payasampakkam?

The median guideline value for streets in Payasampakkam is Rs 550 per sq.ft, with Kantha Kottam Nagar's 2024 figure being below this median.

What are the stamp duty and registration fees for property in Kantha Kottam Nagar?

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 23,100, and the registration fee would be Rs 6,600, totaling Rs 29,700.

Which office handles property registrations for Kantha Kottam Nagar?

The Redhills Sub Registrar Office handles property registrations for Kantha Kottam Nagar, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.