Guideline Value for KATTABOMMAN STREET

Kattabomman Street guideline value

The current guideline value of Kattabomman Street is Rs 4,620 per sq.ft, effective from 1 July 2024. This street is located in Ekkaduthangal village, under the Chennai South Joint I SRO, and is classified as Residential Class II Type - I.

How the guideline value of Kattabomman Street has changed

Over the years, the guideline value of Kattabomman Street has seen significant changes. In 2002, the value was Rs 385 per sq.ft, which increased to Rs 444 per sq.ft in 2003, marking a 15% rise. The value then saw a substantial increase to Rs 1,000 per sq.ft in 2007, reflecting a 125% change. Following this, the value jumped to Rs 4,200 per sq.ft in 2012, a remarkable 320% increase. However, it decreased to Rs 2,814 per sq.ft in 2017, showing a decline of 33%. The value then rose to Rs 4,200 per sq.ft in 2023, and finally, the current value is Rs 4,620 per sq.ft as of the 2024 revision, which is a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 1100%. There are no revisions with figures missing for Kattabomman Street in the register.

Guideline values in Ekkaduthangal

In Ekkaduthangal, there are 190 streets under the Chennai South Joint I SRO that carry a 2024 guideline value, ranging from Rs 3,080 to Rs 8,800 per sq.ft. The median value is Rs 4,620 per sq.ft, which is the same as Kattabomman Street's current guideline value.

• Kaveri Street: Rs 3,080 per sq.ft (2024)
• Kasthuribai Gandhi Nagar: Rs 4,620 per sq.ft (2024)
• Karunai Street: Rs 3,080 per sq.ft (2024)
• Karpa Vinayagar Koil Street: Rs 3,520 per sq.ft (2024)
• Kannan Street: Rs 3,520 per sq.ft (2024)
• Kothalamman Street: Rs 3,520 per sq.ft (2024)

Stamp duty and registration fee for property in Kattabomman Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,620 per sq.ft, the total guideline value amounts to Rs 46,20,000. The stamp duty, charged at 7%, would be Rs 3,23,400, and the registration fee at 2% would be Rs 92,400, making the total fees Rs 4,15,800. The duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kattabomman Street?

Kattabomman Street falls under the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for further assistance.

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

The guideline value is a crucial factor in property transactions in Ekkaduthangal. It serves as the minimum value for which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees. Buyers and sellers must consider this value when negotiating sale prices, as it directly impacts the financial obligations during the transaction.

When a property is bought or sold, the guideline value helps determine the applicable stamp duty and registration fees. It is essential for both parties to be aware of the current guideline value to avoid disputes and ensure compliance with local regulations.

Frequently asked questions

What is the current guideline value of Kattabomman Street?

The current guideline value of Kattabomman Street is Rs 4,620 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, starting from Rs 385 per sq.ft in 2002 to Rs 4,620 per sq.ft in 2024. The highest increase occurred between 2007 and 2012, while the value saw a decline from 2012 to 2017.

What is the land classification for Kattabomman Street?

Kattabomman Street is classified as Residential Class II Type - I, indicating its suitability for residential development.

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

The Sub Registrar Office for Kattabomman Street is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.

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

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot, the stamp duty would be Rs 3,23,400 at the current guideline value.