Guideline Value for Kothandaramar Nagar Ward 3

Kothandaramar Nagar Ward 3 guideline value

The current guideline value of Kothandaramar Nagar Ward 3 is Rs 350 per sq.ft, effective from 1 July 2024. This area is located in Acharapakkam village, under the Acchirapakkam SRO, and is classified as Residential Class I Type - I.

How the guideline value of Kothandaramar Nagar Ward 3 has changed

The guideline value for Kothandaramar Nagar Ward 3 has undergone several revisions over the years. In the 2007 revision, the guideline value was Rs 72 per sq.ft. This increased to Rs 250 per sq.ft in 2012, marking a significant rise of 247%. However, in the 2017 revision, the value was adjusted downwards to Rs 167 per sq.ft, a decrease of 33%. The 2023 revision maintained the value at Rs 350 per sq.ft, with no change from the previous year. The latest revision in 2024 also holds the guideline value at Rs 350 per sq.ft, resulting in a total increase of 110% from 2017 to 2023 and an overall increase of 386% from 2007 to 2024.

It is important to note that the register has no figures for the years 2002 and 2003 for this street. The consistent values in the recent revisions reflect stability in the guideline value for Kothandaramar Nagar Ward 3.

Guideline values in Acharapakkam

Acharapakkam village has a total of 61 streets under the Acchirapakkam SRO that carry a 2024 guideline value ranging from Rs 250 to Rs 600 per sq.ft, with a median value of Rs 400 per sq.ft. Kothandaramar Nagar Ward 3's 2024 figure of Rs 350 per sq.ft is below this median.

• Kollaimedu Colony: Rs 250 per sq.ft (2024)
• Koil Santhu Street Ward 11: Rs 400 per sq.ft (2024)
• Kazhani Vellala Colony (Palla Colony) Ward 2: Rs 250 per sq.ft (2024)
• Kasturi Nagar: Rs 400 per sq.ft (2024)
• Karimedu: Rs 400 per sq.ft (2024)
• Kannai Koil Madha Street Ward 2: Rs 350 per sq.ft (2024)

Stamp duty and registration fee for property in Kothandaramar Nagar Ward 3

For a 1,000 sq.ft plot at the current guideline value of Rs 350 per sq.ft, the total guideline value amounts to Rs 3,50,000. The stamp duty at 7% would be Rs 24,500, and the registration fee at 2% would be Rs 7,000, bringing the total to Rs 31,500. It is important to note that stamp 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 Nagar Ward 3?

The Sub Registrar Office that covers Kothandaramar Nagar Ward 3 is the Acchirapakkam Sub Registrar Office, located at No.70, Bazzar Street, Acchirapakkam-603301, Chengalpattu registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value is a critical component in property transactions in Acharapakkam. It serves as a benchmark for determining the minimum value at which a property can be registered. When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees that are payable at the time of registration.

It is essential for buyers and sellers to be aware of the guideline value to ensure compliance with legal requirements during property transactions. The guideline value provides transparency and helps in establishing a fair basis for property valuation.

Frequently asked questions

What is the current guideline value of Kothandaramar Nagar Ward 3?

The current guideline value of Kothandaramar Nagar Ward 3 is Rs 350 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 72 per sq.ft in 2007 to Rs 350 per sq.ft in 2024, reflecting an overall increase of 386% over the years.

What is the land classification for Kothandaramar Nagar Ward 3?

Kothandaramar Nagar Ward 3 is classified as Residential Class I Type - I, indicating its suitability for residential development.

Where can I find the registration office for Kothandaramar Nagar Ward 3?

The registration office for Kothandaramar Nagar Ward 3 is the Acchirapakkam Sub Registrar Office, located at No.70, Bazzar Street, Acchirapakkam-603301, Chengalpattu registration zone.

How is stamp duty calculated for properties in Kothandaramar Nagar Ward 3?

Stamp duty for properties in Kothandaramar Nagar Ward 3 is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 3,50,000, the stamp duty would be Rs 24,500 at 7%.