Guideline Value for KATTABOMMAN STREET

Kattabomman Street guideline value

The current guideline value of Kattabomman Street is Rs 2,160 per sq.ft, effective from 1 July 2024. This street is located in Nemilicherry village and falls under the Pallavaram SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Kattabomman Street has changed

The guideline value for Kattabomman Street has seen several revisions over the years. In 2012, the guideline value was set at Rs 2,000 per sq.ft, which then decreased to Rs 1,340 per sq.ft in 2017. Following this, the value increased significantly to Rs 2,000 per sq.ft in 2023, and currently stands at Rs 2,160 per sq.ft as of the 2024 revision. Notably, there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

From the 2012 revision to 2017, the guideline value decreased by 33%. However, from 2017 to 2023, there was a substantial increase of 49%. The overall change from 2012 to 2024 shows a slight increase of 8% in the guideline value.

Guideline values in Nemilicherry

Nemilicherry village has a total of 172 streets under the Pallavaram SRO, with guideline values ranging from Rs 1,100 to Rs 3,300 per sq.ft. The median guideline value for these streets is Rs 2,160 per sq.ft, which is the same as the current value for Kattabomman Street.

• Kavery Street: Rs 2,160 per sq.ft (2024)
• Karigalan Street: Rs 2,160 per sq.ft (2024)
• Kanni Koil Street: Rs 2,160 per sq.ft (2024)
• Kothavari Street: Rs 2,160 per sq.ft (2024)
• Kannammal Nagar: Rs 2,160 per sq.ft (2024)
• Kambar Street: Rs 2,200 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 2,160 per sq.ft, the total guideline value amounts to Rs 21,60,000. The stamp duty at 7% would be Rs 1,51,200, and the registration fee at 2% would be Rs 43,200, bringing the total cost for these fees to Rs 1,94,400. 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 these fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kattabomman Street?

Kattabomman Street is covered by the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. To find your specific SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Nemilicherry. It serves as a benchmark for determining the value of the property, ensuring that the transaction is recorded accurately in the official register.

When a property is sold, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Kattabomman Street?

The current guideline value of Kattabomman Street is Rs 2,160 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions, with the most recent increase from Rs 2,000 per sq.ft in 2023 to Rs 2,160 per sq.ft in 2024. The value also decreased from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 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 covering Kattabomman Street is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone.

How are stamp duty and registration fees calculated for properties in Nemilicherry?

Stamp duty and registration fees are calculated based on the higher of the guideline value or the sale price of the property. For example, on a 1,000 sq.ft plot at the current guideline value, the total fees would be Rs 1,94,400.