Guideline Value for Cilanthi Kuttai

Cilanthi Kuttai guideline value

The current guideline value of Cilanthi Kuttai is Rs 5,500 per sq.ft, effective from 1 July 2024. This area is located in Konnur village under the Konnur SRO and is classified as Residential Class I Type - I.

How the guideline value of Cilanthi Kuttai has changed

The guideline value for Cilanthi Kuttai has seen significant changes over the years. The earliest recorded figure in the register is from 2002, with a guideline value of Rs 360 per sq.ft. This value increased to Rs 391 per sq.ft in 2003, marking a 9% rise. By 2007, the value jumped to Rs 700 per sq.ft, reflecting a substantial increase of 79%. The value then soared to Rs 5,000 per sq.ft in 2012, a remarkable 614% increase. However, it decreased to Rs 3,350 per sq.ft in 2017, showing a decline of 33%. The value rose again to Rs 5,000 per sq.ft in 2023, and most recently, it has reached Rs 5,500 per sq.ft in the 2024 revision, which is a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 1,428%. It is important to note that the register has no figures for the revisions in years not mentioned above.

Guideline values in Konnur

In Konnur, there are 249 streets under the Konnur SRO that carry a 2024 guideline value ranging from Rs 2,750 to Rs 7,100 per sq.ft, with the median value being Rs 3,800 per sq.ft. Cilanthi Kuttai's 2024 figure of Rs 5,500 per sq.ft is above this median.

• Damodaran Lane & Street: Rs 5,500 per sq.ft (2024)
• Damodarapurumal Colony 1 to 5th Street and Cross Street: Rs 3,800 per sq.ft (2024)
• Devar Street and Extension: Rs 5,500 per sq.ft (2024)
• Dhadhan Kuppam Puducherry: Rs 3,800 per sq.ft (2024)
• Dhamodhara Perumal Colony: Rs 3,800 per sq.ft (2024)
• Buvaneswari Nagar and Street: Rs 6,000 per sq.ft (2024)

Stamp duty and registration fee for property in Cilanthi Kuttai

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value would be Rs 55,00,000. The stamp duty at 7% would amount to Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, bringing the total fees together to Rs 4,95,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Cilanthi Kuttai?

The Sub Registrar Office that covers Cilanthi Kuttai is the Konnur Sub Registrar Office, located at Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Konnur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded at a fair value.

When a buyer and seller agree on a sale price, the higher of the sale price and the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that all transactions are transparent and adhere to the regulations set by the Registration Department.

Frequently asked questions

What is the current guideline value of Cilanthi Kuttai?

The current guideline value of Cilanthi Kuttai is Rs 5,500 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 360 per sq.ft in 2002 to Rs 5,500 per sq.ft in 2024, which is an overall increase of 1,428%.

What are the stamp duty rates for property in Cilanthi Kuttai?

The stamp duty for property in Cilanthi Kuttai is charged at 7% of the guideline value or sale price, whichever is higher.

Where can I find the Konnur Sub Registrar Office?

The Konnur Sub Registrar Office is located at Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai.

How is the guideline value used in property transactions?

The guideline value is used as a benchmark to determine the minimum registration value of a property, and it is essential for calculating stamp duty and registration fees during property transactions.