Guideline Value for Kodambakkam High Road

Kodambakkam High Road guideline value

The current guideline value of Kodambakkam High Road is Rs 15,400 per sq.ft, effective from 1 July 2024. This street is located in Nungambakkam village and falls under the Chennai Central Joint II SRO. The land classification for this area is Commercial Special Type - IV.

How the guideline value of Kodambakkam High Road has changed

The guideline value for Kodambakkam High Road has seen several revisions over the years. In 2002, the guideline value was Rs 3,010 per sq.ft, which increased significantly to Rs 8,830 per sq.ft in 2007, marking a 193% rise. The value then rose to Rs 14,000 per sq.ft in 2012, but saw a decrease of 33% to Rs 9,380 per sq.ft in 2017. Following that, the value surged to Rs 14,000 per sq.ft in 2023, and most recently, it has reached Rs 15,400 per sq.ft in 2024, reflecting a 10% increase from the previous year.

It is important to note that there is no figure available for the year 2003 in the register for this street. Overall, from 2002 to 2024, the guideline value has increased by 412%.

Guideline values in Nungambakkam

In Nungambakkam, there are 270 streets under the Chennai Central Joint II SRO that carry a 2024 guideline value, ranging from Rs 3,300 to Rs 22,000 per sq.ft. The median guideline value for these streets is Rs 8,800 per sq.ft, placing Kodambakkam High Road's 2024 figure above that median.

• Kothari Road: Rs 15,400 per sq.ft (2024)
• Krishna Iyer Street: Rs 8,800 per sq.ft (2024)
• Krishnama Lane: Rs 8,800 per sq.ft (2024)
• Krishnama Road: Rs 8,800 per sq.ft (2024)
• Khader NawazKhan Road: Rs 13,200 per sq.ft (2024)
• Kumarappa Lane: Rs 6,000 per sq.ft (2024)

Stamp duty and registration fee for property in Kodambakkam High Road

For a 1,000 sq.ft plot at the current guideline value of Rs 15,400 per sq.ft, the total guideline value would be Rs 1,54,00,000. The stamp duty at 7% would amount to Rs 10,78,000, and the registration fee at 2% would be Rs 3,08,000, bringing the total to Rs 13,86,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kodambakkam High Road?

The Sub Registrar Office covering Kodambakkam High Road is the Chennai Central Joint II Sub Registrar Office, located at No:5/9, Kavigar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Nungambakkam. It serves as a benchmark for determining the stamp duty and registration fees applicable during the sale or purchase of property.

When a property is sold, the guideline value is used to calculate the necessary charges, ensuring that both the buyer and seller are aware of the financial implications involved in the transaction. This helps in maintaining transparency and compliance with local regulations.

Frequently asked questions

What is the current guideline value for Kodambakkam High Road?

The current guideline value for Kodambakkam High Road is Rs 15,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,010 per sq.ft in 2002 to Rs 15,400 per sq.ft in 2024, reflecting an overall increase of 412% over the years.

What is the land classification for Kodambakkam High Road?

The land classification for Kodambakkam High Road is Commercial Special Type - IV.

Where can I find the Sub Registrar Office for Kodambakkam High Road?

The Sub Registrar Office for Kodambakkam High Road is the Chennai Central Joint II Sub Registrar Office, located at No:5/9, Kavigar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018.

How is the stamp duty calculated for properties in Kodambakkam High Road?

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 guideline value incurs a total stamp duty of Rs 10,78,000.