Guideline Value for River side Street (Parallel to Kasi Theatre Bridge)

River side Street (Parallel to Kasi Theatre Bridge) guideline value

The current guideline value of River side Street (Parallel to Kasi Theatre Bridge) is Rs 4,900 per sq.ft, effective from 1 July 2024. This street is located in Kodambakkam village and falls under the Ashok Nagar SRO. The land classification for this area is Residential Class III Type - II.

How the guideline value of River side Street (Parallel to Kasi Theatre Bridge) has changed

The guideline value for River side Street has undergone several revisions over the years. In 2012, the value was set at Rs 4,500 per sq.ft, which then decreased to Rs 3,015 per sq.ft in 2017. Following this, the value increased significantly to Rs 4,500 per sq.ft in 2023. The most recent revision in 2024 has raised the guideline value to Rs 4,900 per sq.ft. Notably, there are no figures available for the revisions in 2002, 2003, and 2007 for this street.

From 2012 to 2017, there was a decline of 33%, while the value increased by 49% from 2017 to 2023. The overall change from 2012 to 2024 shows a modest increase of 9%.

Guideline values in Kodambakkam

Kodambakkam village has a total of 1,031 streets under the Ashok Nagar SRO, with guideline values ranging from Rs 2,200 to Rs 11,000 per sq.ft. The median guideline value for these streets is Rs 4,900 per sq.ft, which is equal to the current guideline value of River side Street (Parallel to Kasi Theatre Bridge).

• River Side Street (Atrankarai Street) (Chariman Vasudevan Nagar): Rs 4,900 per sq.ft (2024)
• R.K. Shanmugam Salai: Rs 8,800 per sq.ft (2024)
• R.K. Shanmugam Salai Extension: Rs 8,800 per sq.ft (2024)
• Reserve Bank Colony (Kamarajar Salai): Rs 5,500 per sq.ft (2024)
• Reddy Kuppam Road: Rs 4,900 per sq.ft (2024)
• R.C. Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in River side Street (Parallel to Kasi Theatre Bridge)

For a 1,000 sq.ft plot at the current guideline value of Rs 4,900 per sq.ft, the total guideline value amounts to Rs 49,00,000. The stamp duty at 7% would be Rs 3,43,000, and the registration fee at 2% would be Rs 98,000, bringing the total fees to Rs 4,41,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers River side Street (Parallel to Kasi Theatre Bridge)?

The Sub Registrar Office that covers River side Street (Parallel to Kasi Theatre Bridge) is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more details.

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

The guideline value plays a crucial role in property transactions in Kodambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered. When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees.

During the registration process, the higher value between the guideline value and the sale price is considered for calculating these fees. This ensures that the transaction is recorded accurately and complies with the regulations set by the Registration Department.

Frequently asked questions

What is the current guideline value of River side Street (Parallel to Kasi Theatre Bridge)?

The current guideline value of River side Street (Parallel to Kasi Theatre Bridge) is Rs 4,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen various changes, starting from Rs 4,500 per sq.ft in 2012, decreasing to Rs 3,015 per sq.ft in 2017, and then rising to Rs 4,500 per sq.ft in 2023. The most recent revision in 2024 set the value at Rs 4,900 per sq.ft.

What is the land classification for River side Street (Parallel to Kasi Theatre Bridge)?

River side Street (Parallel to Kasi Theatre Bridge) falls under the land classification of Residential Class III Type - II.

What are the registration fees based on the guideline value?

The registration fees are calculated based on the guideline value, which includes a stamp duty of 7% and a registration fee of 2%. For example, a property valued at Rs 49,00,000 would incur a total fee of Rs 4,41,000.

Which office handles the registration for River side Street (Parallel to Kasi Theatre Bridge)?

The Ashok Nagar Sub Registrar Office handles the registration for River side Street (Parallel to Kasi Theatre Bridge), located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.