Guideline Value for Kottivakkam Panchayat Office Road

Kottivakkam Panchayat Office Road guideline value

The current guideline value for Kottivakkam Panchayat Office Road is Rs 4,400 per sq.ft, effective from 1 July 2024. This road is located in Kottivakkam village and falls under the Adayar SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Kottivakkam Panchayat Office Road has changed

The guideline value for Kottivakkam Panchayat Office Road has seen several revisions over the years. Starting from the 2002 revision, the value was Rs 639 per sq.ft. This increased significantly to Rs 760 per sq.ft in 2003, marking a 19% rise. The value continued to climb, reaching Rs 2,000 per sq.ft in 2007, which was a substantial 163% increase from the previous year. The 2012 revision saw a decrease to Rs 4,000 per sq.ft, reflecting a 33% drop. However, this was followed by a sharp increase to Rs 2,680 per sq.ft in 2017, which was a 49% rise. The value then moved to Rs 4,000 per sq.ft in 2023, before reaching the current figure of Rs 4,400 per sq.ft in the 2024 revision, a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 589%. There are no revisions with figures missing for this street in the register.

Guideline values in Kottivakkam

Kottivakkam village has a total of 284 streets under the Adayar SRO, with guideline values for 2024 ranging from Rs 1,700 to Rs 8,500 per sq.ft. The median value for these streets is Rs 3,900 per sq.ft, placing Kottivakkam Panchayat Office Road above that median.

• K.P.Kandan Nagar Main Road & Ramaniam Magnum: Rs 7,300 per sq.ft (2024)
• Kavery Nagar (Main Road): Rs 3,300 per sq.ft (2024)
• Kavery Nagar Beach 5th Street: Rs 3,300 per sq.ft (2024)
• Kavery Nagar Beach 4th Street: Rs 3,300 per sq.ft (2024)
• Kavery Nagar Beach 3rd Street: Rs 3,300 per sq.ft (2024)
• Kavery Nagar Beach 2nd Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Kottivakkam Panchayat Office Road

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value would be Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, bringing the total to Rs 3,96,000. It is important to note that 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 Kottivakkam Panchayat Office Road?

The Sub Registrar Office that covers Kottivakkam Panchayat Office Road is the Adayar Sub Registrar Office, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20. You can find your SRO for more information.

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

The guideline value is an essential factor when registering property transactions in Kottivakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the value of the property in the eyes of the law. It is crucial to consider this value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value for Kottivakkam Panchayat Office Road?

The current guideline value for Kottivakkam Panchayat Office Road is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 639 per sq.ft in 2002 to Rs 4,400 per sq.ft in 2024, representing a total increase of 589% over this period.

What are the guideline values for other streets in Kottivakkam?

Other streets in Kottivakkam have guideline values ranging from Rs 1,700 to Rs 8,500 per sq.ft. The median value for these streets is Rs 3,900 per sq.ft.

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

The stamp duty is charged at 7% of the guideline value, while the registration fee is 2%. For a property valued at Rs 44,00,000, the total fees would amount to Rs 3,96,000.

Which office do I need to visit for property registration in Kottivakkam?

The Adayar Sub Registrar Office, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20, is the office responsible for property registration in Kottivakkam.