Guideline Value for KATTAPOMMAN STREET

Kattapomman Street guideline value

The current guideline value of Kattapomman Street is Rs 1,000 per sq.ft, effective from 1 July 2024. This street is located in Vengathur village, under the jurisdiction of the Manavalanagar SRO, and is classified as Residential Class I Type - I.

How the guideline value of Kattapomman Street has changed

The guideline value for Kattapomman Street has seen several revisions over the years. In 2007, the value was set at Rs 125 per sq.ft, which increased significantly to Rs 1,000 per sq.ft in 2012, marking a rise of 700%. However, this value dropped to Rs 670 per sq.ft in 2017, a decrease of 33%. The subsequent revision in 2023 maintained the value at Rs 1,000 per sq.ft, and the same figure was retained in the 2024 revision, resulting in a change of 0% between these two years. There are no figures available for the years 2002 and 2003 in the register for this street.

Guideline values in Vengathur

In Vengathur, there are 186 streets under the Manavalanagar SRO that have a guideline value for 2024 ranging from Rs 500 to Rs 2,000 per sq.ft. The median value is Rs 1,000 per sq.ft, which is equal to the guideline value of Kattapomman Street.

• Kaveri Sreet: Rs 1,300 per sq.ft (2024)
• KARUNANITHI NAGAR 4th CROSS STREET: Rs 1,300 per sq.ft (2024)
• KARUNANITHI NAGAR 3rd CROSS STREET: Rs 1,000 per sq.ft (2024)
• KARUNANITHI NAGAR 2nd CROSS STREET: Rs 1,300 per sq.ft (2024)
• Karunanithi Nagar 1st Cross Street: Rs 1,300 per sq.ft (2024)
• K.C.Sammandhanar Street: Rs 800 per sq.ft (2024)

Stamp duty and registration fee for property in Kattapomman Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,000 per sq.ft, the total guideline value would be Rs 10,00,000. The stamp duty at 7% would amount to Rs 70,000, and the registration fee at 2% would be Rs 20,000, bringing the total fees to Rs 90,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kattapomman Street?

Kattapomman Street falls under the Manavalanagar Sub Registrar Office. The address is Thandalam Main Road, Nungambakkam Village, Manavalanagar-602002, Chennai. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions as it determines the minimum value on which stamp duty and registration fees are calculated. When buying or selling property, the guideline value must be considered to ensure compliance with legal requirements.

During registration, the buyer must pay the applicable stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the transaction is officially recorded and legally binding.

Frequently asked questions

What is the current guideline value of Kattapomman Street?

The current guideline value of Kattapomman Street is Rs 1,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 125 per sq.ft in 2007 to Rs 1,000 per sq.ft in 2012, then decreased to Rs 670 per sq.ft in 2017, and has remained at Rs 1,000 per sq.ft from 2017 to 2024.

What is the land classification for Kattapomman Street?

Kattapomman Street is classified as Residential Class I Type - I, indicating its suitability for residential purposes.

Where can I find information about the Sub Registrar Office?

The Manavalanagar Sub Registrar Office covers Kattapomman Street, located at Thandalam Main Road, Nungambakkam Village, Manavalanagar-602002, Chennai.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at Rs 1,000 per sq.ft would incur a total fee of Rs 90,000.