Guideline Value for KATTABOMMAN STREET (KALLIKUPPAM)

Kattabomman Street (Kallikuppam) guideline value

The current guideline value of Kattabomman Street (Kallikuppam) is Rs 1,100 per sq.ft, effective from 1 July 2024. This street is located in Korattur village, under the jurisdiction of the Villivakkam SRO, and is classified as Residential Class IV Type - II.

How the guideline value of Kattabomman Street (Kallikuppam) has changed

The guideline value for Kattabomman Street (Kallikuppam) has undergone several revisions over the years. The earliest recorded figure is from the 2012 revision, which was Rs 1,000 per sq.ft. This value then decreased to Rs 670 per sq.ft in the 2017 revision. Following this, the guideline value increased to Rs 1,000 per sq.ft in the 2023 revision, and currently stands at Rs 1,100 per sq.ft as per the 2024 revision, marking a 10% increase from the previous year.

Between the 2017 and 2023 revisions, there was a significant increase of 49%. However, the change from the 2012 to the 2017 revision saw a decrease of 33%. Overall, from the 2012 revision to the current 2024 revision, the guideline value has seen a modest increase of 10%. It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Korattur

In Korattur, there are 617 streets under the Villivakkam SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 8,200 per sq.ft, with a median value of Rs 2,500 per sq.ft. Kattabomman Street (Kallikuppam) is below this median value.

• Kasthuri Nagar: Rs 3,300 per sq.ft (2024)
• Kasthuri Bai Nagar: Rs 1,600 per sq.ft (2024)
• Kaviya Nagar: Rs 1,600 per sq.ft (2024)
• KAVIYA NAGAR 1st STREET: Rs 1,600 per sq.ft (2024)
• KAVIYA NAGAR 2nd STREET: Rs 1,600 per sq.ft (2024)
• KAVIYA NAGAR 3rd STREET: Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in Kattabomman Street (Kallikuppam)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value would be Rs 11,00,000. The stamp duty at 7% would amount to Rs 77,000, and the registration fee at 2% would be Rs 22,000, bringing the total cost to Rs 99,000. It is important to note that 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 Kattabomman Street (Kallikuppam)?

The Sub Registrar Office that covers Kattabomman Street (Kallikuppam) is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By Nolambur Eb Office). You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration process of property transactions in Korattur. When buying or selling property, the guideline value is used to determine the stamp duty and registration fees, ensuring that both parties are aware of the financial obligations involved in the transaction.

It is essential for buyers and sellers to be familiar with the guideline value, as it affects the overall cost of the property transaction. This value is set by the Registration Department and is subject to periodic revisions, reflecting changes in the real estate landscape.

Frequently asked questions

What is the current guideline value of Kattabomman Street (Kallikuppam)?

The current guideline value of Kattabomman Street (Kallikuppam) is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 in 2012 to Rs 670 in 2017, then increased to Rs 1,000 in 2023, and is currently Rs 1,100 in 2024. The most significant increase was between 2017 and 2023, which saw a 49% rise.

What is the land classification of Kattabomman Street (Kallikuppam)?

Kattabomman Street (Kallikuppam) is classified as Residential Class IV Type - II. This classification is important for understanding the type of development allowed in the area.

Where can I find the Sub Registrar Office for Kattabomman Street (Kallikuppam)?

The Sub Registrar Office for Kattabomman Street (Kallikuppam) is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How is the stamp duty calculated for properties in Kattabomman Street (Kallikuppam)?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft results in a total guideline value of Rs 11,00,000, leading to a stamp duty of Rs 77,000.