Guideline Value for NEW KODAMBAKKAM HIGH ROAD

New Kodambakkam High Road guideline value

The current guideline value of New Kodambakkam High Road is Rs 12,000 per sq.ft, effective from 1 July 2024. This street is located in Vadaagaram village, under the Kodambakkam SRO, and is classified as Commercial Class I Type - I.

How the guideline value of New Kodambakkam High Road has changed

The guideline value for New Kodambakkam High Road has seen significant changes over the years. In 2002, the guideline value was Rs 573 per sq.ft, which increased to Rs 634 per sq.ft in 2003, marking an 11% rise. The value then surged dramatically to Rs 3,100 per sq.ft in 2007, reflecting a 389% increase. Following this, the value rose to Rs 11,000 per sq.ft in 2012, which was a 255% increase from the previous revision.

From 2012 to 2017, the guideline value decreased to Rs 7,370 per sq.ft, indicating a decline of 33%. However, the value rebounded to Rs 11,000 per sq.ft in 2023, and then it increased further to the current rate of Rs 12,000 per sq.ft in 2024, representing a 9% rise. Overall, from 2002 to 2024, the guideline value has increased by 1994%.

Guideline values in Vadaagaram

In Vadaagaram, there are 78 streets under the Kodambakkam SRO, with guideline values ranging from Rs 3,300 to Rs 16,500 per sq.ft as of 2024. The median value for these streets is Rs 6,600 per sq.ft, positioning New Kodambakkam High Road above this median.

• N.G.O.Colony: Rs 5,500 per sq.ft (2024)
• Nelson Manickam Road: Rs 12,100 per sq.ft (2024)
• Officers Colony 1st Cross Street: Rs 7,000 per sq.ft (2024)
• Officers Colony 1st Street: Rs 7,000 per sq.ft (2024)
• Officers Colony 2nd Cross Street: Rs 7,000 per sq.ft (2024)
• Officers Colony 2nd Street: Rs 7,000 per sq.ft (2024)

Stamp duty and registration fee for property in New Kodambakkam High Road

For a 1,000 sq.ft plot at the current guideline value of Rs 12,000 per sq.ft, the total guideline value amounts to Rs 1,20,00,000. The stamp duty at 7% would be Rs 8,40,000, and the registration fee at 2% would be Rs 2,40,000, totaling Rs 10,80,000. Note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers New Kodambakkam High Road?

The Sub Registrar Office that covers New Kodambakkam High Road is the Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor when buying or selling property in Vadaagaram. It serves as a reference point for determining the minimum price at which a property can be registered. Buyers must be aware that the guideline value impacts the stamp duty and registration fees applicable during the transaction.

When a property is sold, the buyer and seller must ensure that the sale price is at least equal to the guideline value. If the sale price is lower than the guideline value, the duty will be calculated based on the guideline value instead.

Frequently asked questions

What is the current guideline value of New Kodambakkam High Road?

The current guideline value of New Kodambakkam High Road is Rs 12,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, increasing from Rs 573 in 2002 to Rs 12,000 in 2024, which is an overall increase of 1994%.

What are the other streets in Vadaagaram and their guideline values?

Other streets in Vadaagaram include N.G.O.Colony at Rs 5,500 per sq.ft, Nelson Manickam Road at Rs 12,100 per sq.ft, and several streets in Officers Colony at Rs 7,000 per sq.ft.

What is the stamp duty rate for properties in New Kodambakkam High Road?

The stamp duty rate for properties in New Kodambakkam High Road is 7% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for New Kodambakkam High Road located?

The Sub Registrar Office for New Kodambakkam High Road is located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026.