Guideline Value for Kothandaramar Koil Street

Kothandaramar Koil Street guideline value

The current guideline value of Kothandaramar Koil Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Nandhambakkam village, under the Alandur SRO, and falls under the Residential Class II Type - II land classification.

How the guideline value of Kothandaramar Koil Street has changed

The guideline value for Kothandaramar Koil Street has undergone several revisions over the years. The earliest recorded figure is from 2007, where the value was Rs 1,000 per sq.ft. This increased significantly to Rs 3,000 per sq.ft in 2012, marking a 200% rise. However, in 2017, the value dropped to Rs 2,010 per sq.ft, reflecting a decrease of 33%. The value then rose to Rs 3,000 per sq.ft in 2023, and further increased to the current Rs 3,300 per sq.ft in 2024, which is a 10% increase from the previous year. The register has no figure for the years 2002 and 2003.

Overall, from 2007 to 2024, the guideline value has increased by 230%. The 2024 value of Rs 3,300 per sq.ft is below the median guideline value of Rs 3,900 per sq.ft for Nandhambakkam, which has 76 streets under the Alandur SRO with values ranging from Rs 2,200 to Rs 8,300 per sq.ft.

Guideline values in Nandhambakkam

In Nandhambakkam, the guideline values vary significantly, with a median of Rs 3,900 per sq.ft. Kothandaramar Koil Street's current value is below this median. Here are the guideline values for other streets in Nandhambakkam:

• Kuthalamman Koil Street: Rs 3,300 per sq.ft (2024)
• Karumariyamman Street: Rs 3,300 per sq.ft (2024)
• Karumariyamman Koil Street: Rs 3,300 per sq.ft (2024)
• Maniam's mango grove: Rs 5,000 per sq.ft (2024)
• Mariapuram Mada Koil 2nd Street: Rs 3,300 per sq.ft (2024)
• Mariyapuram Mada Koil First Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Kothandaramar Koil Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, totaling Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kothandaramar Koil Street?

The Kothandaramar Koil Street falls under the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for more information.

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

The guideline value is an essential factor in the registration process of property transactions in Nandhambakkam. It serves as a benchmark for determining the stamp duty and registration fees that buyers must pay when purchasing property.

When a property is sold, the guideline value helps ensure that the transaction is recorded at a fair value, which is crucial for tax purposes. Buyers should be aware that the registration office will use the guideline value to calculate applicable fees, which may affect the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Kothandaramar Koil Street?

The current guideline value of Kothandaramar Koil 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 1,000 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 230% over the years.

What is the median guideline value in Nandhambakkam?

The median guideline value in Nandhambakkam is Rs 3,900 per sq.ft, which is higher than the current value of Kothandaramar Koil Street.

What are the stamp duty and registration fees for properties here?

For a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 and the registration fee would be Rs 66,000, totaling Rs 2,97,000.

Where is the Alandur Sub Registrar Office located?

The Alandur Sub Registrar Office is located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.