Guideline Value for Kokilam 1st Cross Street

Kokilam 1st Cross Street guideline value

The current guideline value of Kokilam 1st Cross Street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Velachery village, under the Velacheri SRO, and is classified as Residential Class II Type - II.

How the guideline value of Kokilam 1st Cross Street has changed

The guideline value for Kokilam 1st Cross Street has seen several revisions over the years. In 2012, the guideline value was Rs 4,000 per sq.ft, which then decreased to Rs 2,680 per sq.ft in 2017. Following this, the value rose significantly to Rs 4,000 per sq.ft in 2023, and then to the current value of Rs 4,400 per sq.ft in 2024. There are no figures available for the years 2002, 2003, and 2007 in the register for this street.

From 2012 to 2017, there was a decrease of 33%, but from 2017 to 2023, the value increased by 49%. The overall change from 2012 to 2024 is an increase of 10%.

Guideline values in Velachery

In Velachery, there are 2,691 streets under the Velacheri SRO with a 2024 guideline value ranging from Rs 3,300 to Rs 13,200 per sq.ft. The median value is Rs 4,400 per sq.ft, which is the same as the guideline value for Kokilam 1st Cross Street.

• Kokilam 2nd Cross Street: Rs 4,400 per sq.ft (2024)
• Kokilam 3rd Cross Street: Rs 4,400 per sq.ft (2024)
• Kokilam Street: Rs 4,400 per sq.ft (2024)
• Kokilam Street Extn: Rs 4,400 per sq.ft (2024)
• Krishna Nagar: Rs 4,400 per sq.ft (2024)
• Krishna Nagar 10th Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Kokilam 1st Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value would be Rs 44,00,000. The stamp duty at 7% would amount to Rs 3,08,000, while the registration fee at 2% would be Rs 88,000. Together, these fees would total Rs 3,96,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kokilam 1st Cross Street?

The Sub Registrar Office that covers Kokilam 1st Cross Street is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. For more information, you can find your SRO.

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

The guideline value is a crucial factor when registering property transactions in Velachery. It serves as a benchmark for determining the minimum value at which properties must be registered, ensuring that the government receives appropriate revenue from stamp duties and registration fees.

When buying or selling property, the guideline value helps both buyers and sellers understand the official valuation of the property. It is essential for ensuring transparency and fairness in property transactions within the region.

Frequently asked questions

What is the current guideline value of Kokilam 1st Cross Street?

The current guideline value of Kokilam 1st Cross Street is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 4,000 per sq.ft in 2012 to Rs 2,680 per sq.ft in 2017, then increased to Rs 4,000 per sq.ft in 2023, and finally to Rs 4,400 per sq.ft in 2024.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 44,00,000, the stamp duty would be Rs 3,08,000 and the registration fee would be Rs 88,000, totaling Rs 3,96,000.

Which office handles registrations for Kokilam 1st Cross Street?

The Velacheri Sub Registrar Office handles registrations for Kokilam 1st Cross Street, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

What is the land classification for Kokilam 1st Cross Street?

Kokilam 1st Cross Street is classified as Residential Class II Type - II, indicating its intended use for residential purposes.