Guideline Value for Ko.So.Mani Street

Ko.So.Mani Street guideline value

The current guideline value of Ko.So.Mani Street is Rs 1,300 per sq.ft, effective from 1 July 2024. This street is located in Tondaiarpet village under the Royapuram SRO, classified as Residential Class II Type - I.

How the guideline value of Ko.So.Mani Street has changed

Over the years, the guideline value of Ko.So.Mani Street has seen significant changes. The 2007 revision set the value at Rs 600 per sq.ft, which increased to Rs 804 per sq.ft in 2017. The 2023 revision further raised it to Rs 1,200 per sq.ft, and the most recent 2024 revision has established the current value at Rs 1,300 per sq.ft. The register has no figures for the years 2002, 2003, and 2012 for this street.

From 2007 to 2017, the guideline value increased by 34%. Following this, there was a substantial increase of 49% from 2017 to 2023. The jump from 2023 to 2024 represents an 8% rise. Overall, from 2007 to 2024, the guideline value has increased by 117%.

Guideline values in Tondaiarpet

In Tondaiarpet, there are 1,384 streets under the Royapuram SRO with a 2024 guideline value ranging from Rs 1,100 to Rs 10,100 per sq.ft. The median guideline value for these streets is Rs 1,600 per sq.ft, placing Ko.So.Mani Street's 2024 figure below the median.

• Kosapettai Lane: Rs 1,300 per sq.ft (2024)
• Kothandarama Iyer Street: Rs 2,200 per sq.ft (2024)
• Kesavan street: Rs 2,200 per sq.ft (2024)
• Kumaran Nagar 1st street: Rs 1,300 per sq.ft (2024)
• Kumaran Nagar 2nd street: Rs 1,300 per sq.ft (2024)
• Kumaran Nagar 3rd street: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Ko.So.Mani Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value amounts to Rs 13,00,000. The stamp duty at 7% would be Rs 91,000, and the registration fee at 2% would be Rs 26,000, bringing the total cost to Rs 1,17,000. 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 details.

Which Sub Registrar Office covers Ko.So.Mani Street?

The Sub Registrar Office that covers Ko.So.Mani Street is the Royapuram Sub Registrar Office, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor in property transactions in Tondaiarpet. It is used to determine the stamp duty and registration fees that must be paid when buying or selling property. Buyers and sellers should be aware that the guideline value is set by the government and can vary significantly between different streets.

When registering a property, it is essential to provide the correct guideline value to ensure compliance with legal requirements. This value serves as a reference point for the transaction and helps in calculating the necessary fees associated with the property transfer.

Frequently asked questions

What is the current guideline value of Ko.So.Mani Street?

The current guideline value of Ko.So.Mani Street is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2007 to Rs 1,300 per sq.ft in 2024, marking an overall increase of 117% during this period.

What is the land classification of Ko.So.Mani Street?

Ko.So.Mani Street is classified as Residential Class II Type - I.

Where can I find the Royapuram Sub Registrar Office?

The Royapuram Sub Registrar Office is located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021.

How is the stamp duty calculated for properties in Ko.So.Mani Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current rate incurs a stamp duty of Rs 91,000.