Guideline Value for Kottur Garden 2nd Loop Street

Kottur Garden 2nd Loop Street guideline value

The current guideline value of Kottur Garden 2nd Loop Street is Rs 9,400 per sq.ft, effective from 1 July 2024. This street is located in Adayar village under the Adayar SRO, classified as Residential Special Type - II.

How the guideline value of Kottur Garden 2nd Loop Street has changed

The guideline value for Kottur Garden 2nd Loop Street has undergone several revisions over the years. In 2012, the value was set at Rs 8,500 per sq.ft. This figure remained unchanged until the next revision in 2017, where it decreased to Rs 5,695 per sq.ft. However, from 2017 to 2023, there was a significant increase of 49%, raising the guideline value to Rs 8,500 per sq.ft. The most recent revision in 2024 saw another increase of 11%, bringing the current value to Rs 9,400 per sq.ft.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 for Kottur Garden 2nd Loop Street in the register.

Guideline values in Adayar

In Adayar, there are 92 streets under the Adayar SRO that carry a 2024 guideline value ranging from Rs 3,300 to Rs 15,400 per sq.ft, with a median value of Rs 6,100 per sq.ft. The guideline value of Kottur Garden 2nd Loop Street is above this median.

• Kottur Garden 2nd Main Road: Rs 9,400 per sq.ft (2024)
• Kottur Garden 1st Main Road: Rs 9,400 per sq.ft (2024)
• Kottur Garden 1st Loop Street: Rs 9,400 per sq.ft (2024)
• Kottur Garden 3rd Loop Street: Rs 9,400 per sq.ft (2024)
• Kottur Garden 3rd Main Road: Rs 9,400 per sq.ft (2024)
• Kottur Garden 4th Main Road: Rs 9,400 per sq.ft (2024)

Stamp duty and registration fee for property in Kottur Garden 2nd Loop Street

For a 1,000 sq.ft plot at the current rate of Rs 9,400 per sq.ft, the guideline value would be Rs 94,00,000. The stamp duty at 7% would amount to Rs 6,58,000, and the registration fee at 2% would be Rs 1,88,000, totaling Rs 8,46,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kottur Garden 2nd Loop Street?

The Kottur Garden 2nd Loop Street is covered by the Adayar Sub Registrar Office, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20. You can find your SRO for more details.

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

When buying or selling property in Adayar, the guideline value plays a crucial role during the registration process. It is used to determine the stamp duty and registration fees that need to be paid, ensuring that these costs are based on a standardized value set by the Registration Department.

The guideline value helps in establishing a fair basis for transactions, ensuring that both buyers and sellers are aware of the minimum value at which properties are registered. This transparency is essential for maintaining trust in the real estate market.

Frequently asked questions

What is the current guideline value of Kottur Garden 2nd Loop Street?

The current guideline value of Kottur Garden 2nd Loop Street is Rs 9,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 8,500 per sq.ft in 2012 to Rs 5,695 per sq.ft in 2017, then increased to Rs 8,500 per sq.ft in 2023, and finally to Rs 9,400 per sq.ft in 2024.

What is the land classification for Kottur Garden 2nd Loop Street?

Kottur Garden 2nd Loop Street is classified as Residential Special Type - II.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 94,00,000, the stamp duty would be Rs 6,58,000, and the registration fee would be Rs 1,88,000, totaling Rs 8,46,000.

Which office handles the registration for Kottur Garden 2nd Loop Street?

The Adayar Sub Registrar Office handles the registration for Kottur Garden 2nd Loop Street, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20.