Guideline Value for Kasi Koil Meenavar colony

Kasi Koil Meenavar colony guideline value

The current guideline value for Kasi Koil Meenavar colony is Rs 1,600 per sq.ft, effective from 1 July 2024. This colony is located in Ernavur village under the Thiruvottiyur SRO, classified as Residential Class I Type - II.

How the guideline value of Kasi Koil Meenavar colony has changed

The guideline value for Kasi Koil Meenavar colony has undergone several revisions over the years. The earliest recorded value was Rs 145 per sq.ft in 2002, which increased to Rs 165 per sq.ft in 2003, marking a 14% rise. By 2007, the value saw a significant jump to Rs 200 per sq.ft, an increase of 21%. The value then surged dramatically to Rs 1,500 per sq.ft in 2012, reflecting a 650% increase. However, it decreased to Rs 1,005 per sq.ft in 2017, a decline of 33%.

In the subsequent years, the guideline value rose again, reaching Rs 1,500 per sq.ft in 2023, which was a 49% increase from the previous figure. The most recent revision in 2024 set the guideline value at Rs 1,600 per sq.ft, representing a 7% increase from 2023. There are no figures available for revisions in years other than those stated.

Guideline values in Ernavur

In Ernavur, there are 82 streets under the Thiruvottiyur SRO that carry a guideline value for 2024, ranging from Rs 1,000 to Rs 7,300 per sq.ft. The median guideline value is Rs 1,600 per sq.ft, which is equal to the current value for Kasi Koil Meenavar colony.

• Kasikoil Kuppam: Rs 1,600 per sq.ft (2024)
• Kasi Visalakshmi Kuppam: Rs 1,600 per sq.ft (2024)
• Kasi Viswanathar Koilkuppam: Rs 1,600 per sq.ft (2024)
• Kanniyala Layout: Rs 1,600 per sq.ft (2024)
• Kamarajar Nagar/ Main Streets/ Cross Streets: Rs 1,600 per sq.ft (2024)
• Kamalammal Street: Rs 1,800 per sq.ft (2024)

Stamp duty and registration fee for property in Kasi Koil Meenavar colony

For a 1,000 sq.ft plot at the current guideline value of Rs 1,600 per sq.ft, the total guideline value would be Rs 16,00,000. The stamp duty at 7% would be Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, bringing the total fees to Rs 1,44,000. 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 Kasi Koil Meenavar colony?

The Sub Registrar Office that covers Kasi Koil Meenavar colony is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for further assistance.

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

When buying or selling property in Ernavur, the guideline value is used as a reference for determining the stamp duty and registration fees. It is essential for both buyers and sellers to be aware of the guideline value to ensure compliance with local regulations during the registration process.

The guideline value serves as a baseline for property transactions, ensuring that the taxes levied are based on a standardized value rather than fluctuating market prices. This helps maintain transparency and consistency in property dealings within the region.

Frequently asked questions

What is the current guideline value for Kasi Koil Meenavar colony?

The current guideline value for Kasi Koil Meenavar colony is Rs 1,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, from Rs 145 per sq.ft in 2002 to Rs 1,600 per sq.ft in 2024, which is an overall increase of 1003% over the years.

What are the other streets in Ernavur with the same guideline value?

Other streets in Ernavur with a guideline value of Rs 1,600 per sq.ft in 2024 include Kasikoil Kuppam, Kasi Visalakshmi Kuppam, Kasi Viswanathar Koilkuppam, and Kanniyala Layout, among others.

What are the fees associated with buying property in Kasi Koil Meenavar colony?

The fees associated with buying property include a stamp duty of 7% and a registration fee of 2% based on the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Kasi Koil Meenavar colony?

The Sub Registrar Office for Kasi Koil Meenavar colony is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.