Guideline Value for Kodandaramar Street

Kodandaramar Street guideline value

The current guideline value of Kodandaramar Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Parangimalai village under the Chennai South Joint II SRO, classified as Residential Class II Type - II.

How the guideline value of Kodandaramar Street has changed

The guideline value for Kodandaramar Street has seen several revisions over the years. In 2002, the guideline value was Rs 250 per sq.ft, which increased to Rs 314 per sq.ft in 2003, marking a 26% rise. The value further increased to Rs 800 per sq.ft in 2007, reflecting a significant 155% change. By 2012, the guideline value was revised to Rs 3,000 per sq.ft, showing a substantial increase of 275% from the previous revision.

From 2012 to 2017, the value decreased to Rs 2,010 per sq.ft, indicating a drop of 33%. However, from 2017 to 2023, the guideline value rose to Rs 3,000 per sq.ft, which was a 49% increase. The most recent revision in 2024 set the guideline value at Rs 3,300 per sq.ft, reflecting a 10% increase from the previous year. There are no figures available for the years not listed in the register for this street.

Guideline values in Parangimalai

In Parangimalai village, there are 233 streets under the Chennai South Joint II SRO that carry a 2024 guideline value ranging from Rs 2,750 to Rs 11,000 per sq.ft. The median value for these streets is Rs 3,850 per sq.ft, making the guideline value of Kodandaramar Street below this median.

• Kolikkara Street: Rs 3,850 per sq.ft (2024)
• Kothandaramar Swamy Koil Street: Rs 3,300 per sq.ft (2024)
• Kothaval Street: Rs 3,850 per sq.ft (2024)
• Kesava Perumal Koil Street: Rs 3,300 per sq.ft (2024)
• Kasi Vishwanathar Street: Rs 3,300 per sq.ft (2024)
• Karpaga Vinayagar Koil Street: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Kodandaramar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000. Together, the total cost for stamp duty and registration would be Rs 2,97,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can also use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kodandaramar Street?

The Sub Registrar Office that covers Kodandaramar Street is the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Parangimalai. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Kodandaramar Street?

The current guideline value of Kodandaramar Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 250 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 1220% over this period.

What is the land classification for Kodandaramar Street?

Kodandaramar Street is classified as Residential Class II Type - II under the Chennai South Joint II SRO.

What are the stamp duty rates for property in Kodandaramar Street?

The stamp duty for property in Kodandaramar Street is 7% of the guideline value or sale price, whichever is higher, along with a registration fee of 2%.

Where can I find the Sub Registrar Office for Kodandaramar Street?

The Sub Registrar Office for Kodandaramar Street is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.