Guideline Value for Kothandaramar Swamy Koil Street

Kothandaramar Swamy Koil Street guideline value

The current guideline value of Kothandaramar Swamy Koil Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Parangimalai village and falls under the Chennai South Joint II SRO. The land classification for this area is Residential Class II Type - II.

How the guideline value of Kothandaramar Swamy Koil Street has changed

The guideline value for Kothandaramar Swamy Koil Street has seen several revisions over the years. Starting from Rs 350 per sq.ft in 2002, it increased to Rs 438 per sq.ft in 2003. The value then rose significantly to Rs 800 per sq.ft in 2007, followed by a substantial jump to Rs 3,000 per sq.ft in 2012. However, it decreased to Rs 2,010 per sq.ft in 2017. The guideline value then increased to Rs 3,000 per sq.ft in 2023 and finally reached Rs 3,300 per sq.ft in the 2024 revision.

Between the revisions, notable changes include an increase of 10% from 2023 to 2024, a 49% rise from 2017 to 2023, and a decrease of 33% from 2012 to 2017. The value saw a remarkable increase of 275% from 2007 to 2012, and an 83% rise from 2003 to 2007. Overall, from 2002 to 2024, the guideline value has increased by 843%.

Guideline values in Parangimalai

In Parangimalai, there are 233 streets under the Chennai South Joint II SRO that carry a 2024 guideline value ranging from Rs 2,750 to Rs 11,000 per sq.ft, with a median value of Rs 3,850 per sq.ft. The guideline value of Kothandaramar Swamy Koil Street is below this median.

• Kothaval Street: Rs 3,850 per sq.ft (2024)
• Kolikkara Street: Rs 3,850 per sq.ft (2024)
• Kodandaramar Street: Rs 3,300 per sq.ft (2024)
• Kesava Perumal Koil Street: Rs 3,300 per sq.ft (2024)
• Kasi Vishwanathar Street: Rs 3,300 per sq.ft (2024)
• Labbai Street: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Kothandaramar Swamy 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 would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, while the registration fee at 2% would be Rs 66,000, bringing the total charges to Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Kothandaramar Swamy Koil Street?

The Kothandaramar Swamy Koil Street falls under the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035, Chennai registration zone.

To find your specific SRO, visit find your SRO.

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

The guideline value is a crucial factor in the registration process of property transactions in Parangimalai. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives the appropriate stamp duty and registration fees.

When buying or selling property, the guideline value helps in calculating the financial obligations involved in the transaction. It is essential for both buyers and sellers to be aware of the guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value for Kothandaramar Swamy Koil Street?

The current guideline value for Kothandaramar Swamy 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 350 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, showing an overall increase of 843% over the years.

What is the land classification for Kothandaramar Swamy Koil Street?

The land classification for Kothandaramar Swamy Koil Street is Residential Class II Type - II.

Where is the Sub Registrar Office for this street located?

The Sub Registrar Office for Kothandaramar Swamy Koil Street is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value would incur total charges of Rs 2,97,000.