Guideline Value for Kosapettai Lane

Kosapettai Lane guideline value

The current guideline value of Kosapettai Lane is Rs 1,300 per sq.ft, effective from 1 July 2024. This lane is located in Tondaiarpet village, under the jurisdiction of the Royapuram SRO, and is classified as Residential Class II Type - I.

How the guideline value of Kosapettai Lane has changed

The guideline value for Kosapettai Lane has seen several revisions over the years. In 2007, the value was Rs 600 per sq.ft, which increased to Rs 1,200 per sq.ft in 2012. However, there was a significant drop to Rs 804 per sq.ft in 2017. The value then rose to Rs 1,200 per sq.ft in 2023, and currently stands at Rs 1,300 per sq.ft as of the 2024 revision. The register has no figures for the years 2002 and 2003.

From 2017 to 2023, the guideline value increased by 49%, and from 2023 to 2024, it rose by 8%. The overall increase from 2007 to 2024 is 117%, reflecting the changes in property valuation over the years.

Guideline values in Tondaiarpet

In Tondaiarpet, there are 1,384 streets under the Royapuram SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 10,100 per sq.ft, with a median value of Rs 1,600 per sq.ft. The guideline value of Kosapettai Lane is below this median.

• Ko.So.Mani Street: 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 Kosapettai Lane

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, totaling 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. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kosapettai Lane?

The Sub Registrar Office covering Kosapettai Lane is the Royapuram Sub Registrar Office, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property transaction.

When a property is sold, the guideline value is compared with the sale price, and the higher of the two is used to calculate the stamp duty and registration fees. This ensures that the government receives appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Kosapettai Lane?

The current guideline value of Kosapettai Lane 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, reflecting an overall increase of 117% over the years.

What are the stamp duty and registration fees for properties in Kosapettai Lane?

For a property valued at Rs 13,00,000, the stamp duty would be Rs 91,000 and the registration fee would be Rs 26,000, totaling Rs 1,17,000.

Which office handles the registration for Kosapettai Lane?

The registration for Kosapettai Lane is handled by the Royapuram Sub Registrar Office, located at 535, Tondaiyarpet High Road, Chennai 600021.

What is the land classification for Kosapettai Lane?

Kosapettai Lane is classified as Residential Class II Type - I, indicating its use for residential purposes.