Guideline Value for Kathiravan Nagar

Kathiravan Nagar guideline value

The current guideline value of Kathiravan Nagar is Rs 2,750 per sq.ft, effective from 1 July 2024. This area is located in Kolapakkam village under the Pammal SRO and is classified as Residential Class I Type - I.

How the guideline value of Kathiravan Nagar has changed

The guideline value for Kathiravan Nagar has seen significant revisions over the years. The 2017 revision set the value at Rs 1,675 per sq.ft. This was followed by an increase in the 2023 revision to Rs 2,500 per sq.ft, marking a 49% increase from the previous figure. The latest revision in 2024 shows a further increase to Rs 2,750 per sq.ft, which is a 10% rise from 2023. Overall, from 2017 to 2024, the guideline value has increased by 64%.

It is important to note that there are no figures available for the revisions in the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Kolapakkam

In Kolapakkam, there are 111 streets under the Pammal SRO that carry a 2024 guideline value ranging from Rs 1,650 to Rs 6,850 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, placing the guideline value of Kathiravan Nagar above this median.

• Kaththayiamman Magar: Rs 1,980 per sq.ft (2024)
• Karumariamman Nagar: Rs 2,200 per sq.ft (2024)
• Kerugambakkam Main Road: Rs 2,750 per sq.ft (2024)
• Kolapakkam - Manapakkam Road Panchayath Road: Rs 2,750 per sq.ft (2024)
• Kolappakkam: Rs 2,750 per sq.ft (2024)
• Kamatchi Nagar: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Kathiravan Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value amounts to Rs 27,50,000. The stamp duty at 7% would be Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, bringing the total to Rs 2,47,500. Please note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kathiravan Nagar?

The Sub Registrar Office that covers Kathiravan Nagar is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Kolapakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that transactions are conducted fairly and transparently.

When a buyer and seller agree on a sale price, the guideline value is compared to ensure that the registration is done at the higher of the two. This helps in calculating the applicable stamp duty and registration fees, which are essential components of the property transaction process.

Frequently asked questions

What is the current guideline value of Kathiravan Nagar?

The current guideline value of Kathiravan Nagar is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 1,675 per sq.ft in 2017 to Rs 2,750 per sq.ft in 2024. This reflects a total increase of 64% over the seven-year period.

What is the land classification for Kathiravan Nagar?

Kathiravan Nagar is classified as Residential Class I Type - I, indicating its suitability for residential development.

Where can I find the Sub Registrar Office for Kathiravan Nagar?

The Sub Registrar Office for Kathiravan Nagar is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone.

How is stamp duty calculated for properties in Kathiravan Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a property with a guideline value of Rs 27,50,000 would incur a stamp duty of Rs 1,92,500 at 7%.