Guideline Value for Kottur Garden Loop Street

Kottur Garden Loop Street guideline value

The current guideline value of Kottur Garden 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, and is classified as Residential Special Type - II.

How the guideline value of Kottur Garden Loop Street has changed

The guideline value for Kottur Garden Loop Street has undergone several revisions over the years. The 2012 revision set the value at Rs 8,500 per sq.ft, which was then decreased to Rs 5,695 per sq.ft in the 2017 revision. Following this, the value saw a significant increase to Rs 8,500 per sq.ft in the 2023 revision, and finally, it rose to Rs 9,400 per sq.ft in the 2024 revision, marking an 11% increase from the previous year.

From the 2017 revision to the 2023 revision, the guideline value increased by 49%. Overall, from the 2012 revision to the 2024 revision, there has been an increase of 11%. It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Adayar

Adayar village has 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 for Kottur Garden Loop Street is above this median.

• Kottur Garden 5th Main Road: Rs 9,400 per sq.ft (2024)
• Kotturpuram Slum Clearance Board: Rs 5,500 per sq.ft (2024)
• Kottur Garden 4th Main Road: Rs 9,400 per sq.ft (2024)
• Kottur Garden 3rd Main Road: Rs 9,400 per sq.ft (2024)
• Kottur Garden 3rd Loop Street: Rs 9,400 per sq.ft (2024)
• Kottur Garden 2nd Main Road: Rs 9,400 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 9,400 per sq.ft, the total guideline value amounts to Rs 94,00,000. The stamp duty at 7% would be Rs 6,58,000, and the registration fee at 2% would be Rs 1,88,000, bringing the total fees to Rs 8,46,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Kottur Garden Loop Street?

The Kottur Garden Loop Street falls under 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 Adayar

The guideline value is a crucial factor in the registration process when buying or selling property in Adayar. It serves as a benchmark for determining the stamp duty and registration fees, ensuring that these costs are calculated based on the official rates set by the government.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used for calculating the applicable duties and fees. This ensures transparency and standardization in property transactions within the region.

Frequently asked questions

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

The current guideline value of Kottur Garden 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 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 Loop Street?

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

What are the stamp duty and registration fees for property here?

For a 1,000 sq.ft plot at the current guideline value, the total fees would amount to Rs 8,46,000, which includes stamp duty and registration fees.

Where is the Sub Registrar Office for Kottur Garden Loop Street?

The Sub Registrar Office covering Kottur Garden Loop Street is located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20.