Guideline Value for Kogila Garden Road

Kogila Garden Road guideline value

The current guideline value of Kogila Garden Road is Rs 3,100 per sq.ft, effective from 1 July 2024. This road is located in Ramapuram village under the Chennai South Joint II SRO, classified as Residential Class II Type - I.

How the guideline value of Kogila Garden Road has changed

The guideline value for Kogila Garden Road has undergone several revisions over the years. The earliest recorded figure is from 2012, where it was Rs 2,800 per sq.ft. This value remained the same in the 2012 revision, but in 2017, it decreased to Rs 1,876 per sq.ft. The value saw a significant increase in the 2023 revision to Rs 2,800 per sq.ft, and then it rose again to Rs 3,100 per sq.ft in the 2024 revision.

From 2017 to 2023, the guideline value increased by 49%, and from 2023 to 2024, it rose by 11%. Overall, the value from 2012 to 2024 has increased by 11%. It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for this street.

Guideline values in Ramapuram

In Ramapuram, there are 394 streets under the Chennai South Joint II SRO that carry a 2024 guideline value, ranging from Rs 1,950 to Rs 6,600 per sq.ft. The median guideline value for these streets is Rs 3,100 per sq.ft, which is the same as the current value for Kogila Garden Road.

• Kokila Garden (S.No.55/2): Rs 3,100 per sq.ft (2024)
• Kokkan Street: Rs 2,750 per sq.ft (2024)
• K.K. Ponnurangam Salai Cross Street: Rs 3,100 per sq.ft (2024)
• K.K.Ponnrangam Naicken Salai: Rs 3,550 per sq.ft (2024)
• Kothari Nagar & 1 To 5th Street: Rs 4,400 per sq.ft (2024)
• Kothari Nagar 1 to 9 Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Kogila Garden Road

For a 1,000 sq.ft plot at the current guideline value of Rs 3,100 per sq.ft, the total guideline value amounts to Rs 31,00,000. The stamp duty at 7% would be Rs 2,17,000, and the registration fee at 2% would be Rs 62,000, totaling Rs 2,79,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kogila Garden Road?

The Sub Registrar Office that covers Kogila Garden Road 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 Ramapuram

The guideline value is a crucial factor in the registration process when buying or selling property in Ramapuram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is in line with government regulations.

When a property is sold, the guideline value helps in calculating the stamp duty and registration fees that need to be paid. This value is essential for both buyers and sellers to understand the financial implications of a property transaction in the area.

Frequently asked questions

What is the current guideline value of Kogila Garden Road?

The current guideline value of Kogila Garden Road is Rs 3,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,800 per sq.ft in 2012 to Rs 1,876 per sq.ft in 2017, then to Rs 2,800 per sq.ft in 2023, and finally to Rs 3,100 per sq.ft in 2024.

What is the land classification for Kogila Garden Road?

Kogila Garden Road is classified as Residential Class II Type - I.

What is the range of guideline values in Ramapuram?

The guideline values in Ramapuram range from Rs 1,950 to Rs 6,600 per sq.ft, with a median guideline value of Rs 3,100 per sq.ft.

Where is the Sub Registrar Office for Kogila Garden Road located?

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