Guideline Value for Kowshik Nagar

Kowshik Nagar guideline value

The current guideline value of Kowshik Nagar is Rs 400 per sq.ft, effective from 1 July 2024. This area is located in Orathur village under the Gooduvancheri SRO and is classified as Residential Special Type - I.

How the guideline value of Kowshik Nagar has changed

Over the years, the guideline value for Kowshik Nagar has seen several revisions. The 2007 revision set the value at Rs 150 per sq.ft, which increased significantly to Rs 400 per sq.ft in the 2012 revision. However, it dropped to Rs 268 per sq.ft in the 2017 revision. From 2017 to 2023, the value remained stable at Rs 400 per sq.ft, with no change. Finally, the 2024 revision also maintains the same rate of Rs 400 per sq.ft, reflecting a 0% change from the previous year.

In summary, from the 2007 revision to the 2024 revision, the guideline value has increased by 167%. Notably, the years 2002 and 2003 have no figures recorded for this street in the register.

Guideline values in Orathur

In Orathur, there are 80 streets under the Gooduvancheri SRO, with guideline values ranging from Rs 335 to Rs 1,700 per sq.ft. The median guideline value for these streets is Rs 500 per sq.ft, placing Kowshik Nagar's 2024 figure below this median.

• Kumarasaamy Garden: Rs 896 per sq.ft (2024)
• Kumarasami Garden Phase - II: Rs 896 per sq.ft (2024)
• Karthik Nagar EXTN I,II: Rs 500 per sq.ft (2024)
• Karthik Nagar: Rs 500 per sq.ft (2024)
• Kallazhagar City: Rs 600 per sq.ft (2024)
• Maniyammai Nagar: Rs 505 per sq.ft (2024)

Stamp duty and registration fee for property in Kowshik 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 cost to Rs 36,000. It's important to note that the duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kowshik Nagar?

Kowshik Nagar falls under 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 information.

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

The guideline value plays a crucial role in property transactions in Orathur. It serves as the basis for calculating stamp duty and registration fees during the sale or purchase of property. Buyers must pay these fees based on the guideline value or the sale price, whichever is higher.

Understanding the guideline value is essential for both buyers and sellers, as it helps in determining the financial obligations involved in property transactions. It ensures transparency and standardization in the registration process.

Frequently asked questions

What is the current guideline value of Kowshik Nagar?

The current guideline value of Kowshik 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 seen several revisions, with the most significant increase from Rs 150 per sq.ft in 2007 to Rs 400 per sq.ft in 2012. It has remained at Rs 400 per sq.ft since 2017.

What is the land classification for Kowshik Nagar?

Kowshik Nagar is classified as Residential Special Type - I. This classification is important for understanding the permissible uses of the land.

What is the median guideline value in Orathur?

The median guideline value for streets in Orathur is Rs 500 per sq.ft, which is higher than Kowshik Nagar's current value of Rs 400 per sq.ft.

Where is the Gooduvancheri Sub Registrar Office located?

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