Guideline Value for Kothandarama Iyer Street

Kothandarama Iyer Street guideline value

The current guideline value of Kothandarama Iyer Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Tondaiarpet village under the Royapuram SRO and falls under the Residential Class I Type - I land classification.

How the guideline value of Kothandarama Iyer Street has changed

The guideline value for Kothandarama Iyer Street has seen several revisions over the years. Starting from the 2007 revision, the value was Rs 900 per sq.ft. This increased significantly to Rs 2,000 per sq.ft in 2012, marking a 122% rise. However, in 2017, the value dropped to Rs 1,340 per sq.ft, reflecting a decrease of 33%. The subsequent revisions showed a substantial increase, with the value rising to Rs 2,000 per sq.ft in 2023 and then reaching Rs 2,200 per sq.ft in 2024, which is a 10% increase from the previous year.

Between the 2017 and 2023 revisions, the guideline value increased by 49%. Overall, from the 2007 to the 2024 revision, the value has increased by 144%. It is important to note that there are no figures available for Kothandarama Iyer Street in the 2002 and 2003 revisions.

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. The median guideline value for these streets is Rs 1,600 per sq.ft, making Kothandarama Iyer Street's 2024 figure above that median.

• Ko.So.Mani Street: Rs 1,300 per sq.ft (2024)
• Kosapettai Lane: Rs 1,300 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 Kothandarama Iyer Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total charges to Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Kothandarama Iyer Street?

The Sub Registrar Office that covers Kothandarama Iyer Street is the Royapuram Sub Registrar Office, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021. For more information, you can find your SRO.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Tondaiarpet. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid at the time of property registration.

When a property transaction occurs, the guideline value is assessed, and the stamp duty is calculated based on this value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Kothandarama Iyer Street?

The current guideline value of Kothandarama Iyer Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 900 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 144% over the years.

What is the median guideline value for streets in Tondaiarpet?

The median guideline value for the 1,384 streets in Tondaiarpet is Rs 1,600 per sq.ft, making Kothandarama Iyer Street's 2024 figure above this median.

What are the stamp duty and registration fees for property in Kothandarama Iyer Street?

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty and registration fees would amount to Rs 1,98,000.

Where is the Sub Registrar Office for Kothandarama Iyer Street located?

The Sub Registrar Office for Kothandarama Iyer Street is located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021.