Guideline Value for Kowsalya Nagar

Kowsalya Nagar guideline value

The current guideline value of Kowsalya Nagar is Rs 400 per sq.ft, effective from 1 July 2024. This locality is situated in Erivakkam village, under the jurisdiction of the Gooduvancheri SRO, and is classified as Residential Special Type - II.

How the guideline value of Kowsalya Nagar has changed

Looking at the historical revisions, the guideline value for Kowsalya Nagar has seen several changes over the years. In 2007, the value was set at Rs 50 per sq.ft, which increased significantly to Rs 400 per sq.ft in 2012. However, it dropped to Rs 268 per sq.ft in 2017, before stabilizing at Rs 400 per sq.ft in both the 2023 and 2024 revisions. The register has no figures for the years 2002 and 2003.

From 2017 to 2023, there was a notable increase of 49%, while the jump from 2007 to 2012 marked a substantial rise of 700%. Overall, from 2007 to 2024, the guideline value has increased by 700%, reflecting the current rate of Rs 400 per sq.ft.

Guideline values in Erivakkam

In Erivakkam, there are 19 streets under the Gooduvancheri SRO that carry a 2024 guideline value, ranging from Rs 200 to Rs 2,000 per sq.ft. The median value for these streets is Rs 400 per sq.ft, placing Kowsalya Nagar's 2024 figure at the median level.

• Kowsalya Nagar Phase-I: Rs 400 per sq.ft (2024)
• Kousalya Nagar Phase III: Rs 700 per sq.ft (2024)
• Krishna Nagar: Rs 400 per sq.ft (2024)
• K.K.R Nagar Annex-II: Rs 300 per sq.ft (2024)
• K.K.R. Nagar: Rs 400 per sq.ft (2024)
• Keerthana Nagar: Rs 300 per sq.ft (2024)

Stamp duty and registration fee for property in Kowsalya Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 400 per sq.ft, the total guideline value amounts to Rs 4,00,000. The stamp duty at 7% would be Rs 28,000, and the registration fee at 2% would be Rs 8,000, bringing the total fees to Rs 36,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kowsalya Nagar?

Kowsalya Nagar falls under the jurisdiction of the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process of property transactions in Erivakkam. When buying or selling property, the guideline value is used to determine the stamp duty and registration fees that need to be paid. This ensures that the transaction is recorded accurately and complies with local regulations.

It is essential for buyers and sellers to be aware of the current guideline value, as it directly impacts the financial obligations during the registration process. Understanding these values can help in making informed decisions while engaging in property transactions.

Frequently asked questions

What is the current guideline value of Kowsalya Nagar?

The current guideline value of Kowsalya Nagar is Rs 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 50 per sq.ft in 2007 to Rs 400 per sq.ft in 2012, then decreased to Rs 268 per sq.ft in 2017, and has remained at Rs 400 per sq.ft since 2023.

What is the median guideline value in Erivakkam?

The median guideline value in Erivakkam for the year 2024 is Rs 400 per sq.ft, which is the same as the guideline value for Kowsalya Nagar.

Where can I find the Sub Registrar Office for Kowsalya Nagar?

The Gooduvancheri Sub Registrar Office covers Kowsalya Nagar, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone.

How is stamp duty calculated for properties in Kowsalya Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 4,00,000, the stamp duty at 7% would amount to Rs 28,000.