Guideline Value for Kothari New Town Phase - I

Kothari New Town Phase - I guideline value

The current guideline value for Kothari New Town Phase - I is Rs 660 per sq.ft, effective from 1 July 2024. This property is located in Panangottur village and falls under the Chengleput Joint II SRO. The land classification for this area is Residential Class I Type - III.

How the guideline value of Kothari New Town Phase - I has changed

The guideline value for Kothari New Town Phase - I has undergone several revisions over the years. The register does not have figures for the years 2002, 2003, 2007, 2012, and 2017. The most recent figures are Rs 600 per sq.ft from the 2023 revision and Rs 660 per sq.ft from the 2024 revision, indicating a change of +10% from 2023 to 2024.

Prior to the 2023 revision, the guideline values were not recorded for this street. The current value of Rs 660 per sq.ft is below the median value of Rs 990 per sq.ft for the 419 streets in Panangottur under the Chengleput Joint II SRO, which range from Rs 440 to Rs 2,200 per sq.ft.

Guideline values in Panangottur

In Panangottur, there are 419 streets under the Chengleput Joint II SRO, with a 2024 guideline value range from Rs 440 to Rs 2,200 per sq.ft. The current guideline value for Kothari New Town Phase - I is below the median of Rs 990 per sq.ft. Below are other streets in Panangottur:

• Kothari Nagar (Ward -19): Rs 660 per sq.ft (2024)
• Kothari Nagar (Ward -15): Rs 660 per sq.ft (2024)
• Korukkanthangal Salai (Ward -18): Rs 550 per sq.ft (2024)
• Kolatheswar Kovil Street (Kr): Rs 660 per sq.ft (2024)
• Kodikatha Kumaran Street (Ward -8): Rs 1,320 per sq.ft (2024)
• Kodikatha Kumaran 2nd Cross Street (Ward -8): Rs 1,320 per sq.ft (2024)

Stamp duty and registration fee for property in Kothari New Town Phase - I

For a 1,000 sq.ft plot at the current guideline value of Rs 660 per sq.ft, the total guideline value would be Rs 6,60,000. The stamp duty at 7% would amount to Rs 46,200, and the registration fee at 2% would be Rs 13,200, totaling Rs 59,400. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can calculate your fees using the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kothari New Town Phase - I?

The Kothari New Town Phase - I falls under the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone. You can find your SRO for more information.

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

When buying or selling property in Panangottur, the guideline value is a crucial factor in determining the registration fees and stamp duty. This value is used to calculate the taxes payable during the registration process, ensuring that both parties are aware of the financial obligations involved in the transaction.

It is essential for buyers and sellers to be informed about the current guideline value, as it can affect the overall cost of property transactions. Understanding this value helps in making informed decisions and preparing for the associated costs when registering property in the area.

Frequently asked questions

What is the current guideline value of Kothari New Town Phase - I?

The current guideline value of Kothari New Town Phase - I is Rs 660 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed recently?

The guideline value increased from Rs 600 per sq.ft in 2023 to Rs 660 per sq.ft in 2024, marking a change of +10%.

What is the land classification for Kothari New Town Phase - I?

Kothari New Town Phase - I is classified as Residential Class I Type - III.

Where is the Chengleput Joint II SRO located?

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone.

How is the guideline value used in property transactions?

The guideline value is used to calculate stamp duty and registration fees during property transactions. It is charged on the higher of the guideline value or the sale price, ensuring that the appropriate taxes are paid upon registration.