Guideline Value for Kothari Road

Kothari Road guideline value

The current guideline value of Kothari Road in Nungambakkam village is Rs 15,400 per sq.ft, effective from 1 July 2024. This street falls under the Chennai Central Joint II SRO and is classified as Commercial Special Type - IV.

How the guideline value of Kothari Road has changed

Since the 2007 revision, the guideline value of Kothari Road has seen significant changes. In 2007, the guideline value was Rs 4,000 per sq.ft, which increased to Rs 14,000 per sq.ft in 2012, marking a 250% rise. However, it then decreased to Rs 9,380 per sq.ft in 2017, a decline of 33%. The value rose again to Rs 14,000 per sq.ft in 2023, and most recently, it has increased to Rs 15,400 per sq.ft in 2024, which is a 10% increase from the previous year. The register has no figures for the years 2002 and 2003.

Overall, from 2007 to 2024, the guideline value has increased by 285%. The revisions show a fluctuation in the guideline value, with the most significant increase occurring between 2017 and 2023, where it rose by 49%.

Guideline values in Nungambakkam

In Nungambakkam, there are 270 streets under the Chennai Central Joint II SRO that carry a 2024 guideline value, ranging from Rs 3,300 to Rs 22,000 per sq.ft. The median value for these streets is Rs 8,800 per sq.ft, placing Kothari Road's 2024 figure well above this median.

• Krishna Iyer Street: Rs 8,800 per sq.ft (2024)
• Krishnama Lane: Rs 8,800 per sq.ft (2024)
• Krishnama Road: Rs 8,800 per sq.ft (2024)
• Kodambakkam High Road: Rs 15,400 per sq.ft (2024)
• Khader NawazKhan Road: Rs 13,200 per sq.ft (2024)
• Kumarappa Lane: Rs 6,000 per sq.ft (2024)

Stamp duty and registration fee for property in Kothari Road

For a 1,000 sq.ft plot at the current guideline value of Rs 15,400 per sq.ft, the total guideline value amounts to Rs 1,54,00,000. The stamp duty at 7% would be Rs 10,78,000, and the registration fee at 2% would be Rs 3,08,000, bringing the total cost for these fees to Rs 13,86,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can calculate your exact fees using the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kothari Road?

Kothari Road is covered by the Chennai Central Joint II Sub Registrar Office, located at No:5/9, Kavigar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018. To find your SRO, visit find your SRO.

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

The guideline value is a critical factor in property transactions in Nungambakkam. It is used to determine the stamp duty and registration fees applicable when a property is bought or sold. Buyers and sellers must be aware of the current guideline value to ensure compliance with local regulations during the registration process.

When a property is registered, the guideline value serves as a benchmark for calculating the fees. It is essential for both parties to understand that the stamp duty is charged on the higher of the guideline value or the sale price, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Kothari Road?

The current guideline value of Kothari Road is Rs 15,400 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 4,000 per sq.ft in 2007 to Rs 15,400 per sq.ft in 2024, reflecting an overall increase of 285% over this period.

What is the land classification for Kothari Road?

Kothari Road is classified as Commercial Special Type - IV under the Chennai Central Joint II SRO.

What are the stamp duty and registration fees for property in Kothari Road?

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 10,78,000 and the registration fee would be Rs 3,08,000, totaling Rs 13,86,000.

Which Sub Registrar Office covers Kothari Road?

The Chennai Central Joint II Sub Registrar Office covers Kothari Road, located at No:5/9, Kavigar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018.