Guideline Value for KOLUNTHUYAMMAN KOVIL STREET

Kolunthuyamman Kovil Street guideline value

The current guideline value of Kolunthuyamman Kovil Street is Rs 3,850 per sq.ft, effective from 1 July 2024. This street is located in Chengalpattu Natham village and falls under the Chengleput Joint II SRO. The land classification for this area is Mixed Special Type - III.

How the guideline value of Kolunthuyamman Kovil Street has changed

Historically, the guideline value for Kolunthuyamman Kovil Street has seen several revisions. The 2012 revision set the value at Rs 3,500 per sq.ft, which remained unchanged in the 2017 revision. However, in 2017, the value dropped to Rs 2,345 per sq.ft, reflecting a decrease of 33%. The 2023 revision increased the value to Rs 3,500 per sq.ft, and subsequently, the 2024 revision raised it further to Rs 3,850 per sq.ft, marking a 10% increase from the previous year.

There are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Chengalpattu Natham

In Chengalpattu Natham, there are 88 streets under the Chengleput Joint II SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 5,500 per sq.ft. The median guideline value for these streets is Rs 2,200 per sq.ft, positioning Kolunthuyamman Kovil Street's 2024 figure above this median.

• Kesavanar Street: Rs 1,980 per sq.ft (2024)
• Kavarai Street Ward-4: Rs 1,980 per sq.ft (2024)
• Kavarai Street Ward-2: Rs 1,980 per sq.ft (2024)
• Kathan Street: Rs 1,980 per sq.ft (2024)
• Karimedu: Rs 1,100 per sq.ft (2024)
• Kuppusamy Naidu Street(Valayalkara Street): Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Kolunthuyamman Kovil Street

For a 1,000 sq.ft plot at the current rate of Rs 3,850 per sq.ft, the guideline value amounts to Rs 38,50,000. The stamp duty at 7% would be Rs 2,69,500, while the registration fee at 2% would be Rs 77,000, totaling Rs 3,46,500. It is important to note that duty is charged on the higher of the guideline value and the sale price.

You can use the stamp duty and registration fee calculator for accurate calculations based on your property details.

Which Sub Registrar Office covers Kolunthuyamman Kovil Street?

The Sub Registrar Office covering Kolunthuyamman Kovil Street is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor in property transactions in Chengalpattu Natham. It serves as a benchmark for determining the stamp duty and registration fees applicable during the sale or purchase of property.

When you register a property, the guideline value is used to calculate the fees based on the property's value. This ensures that the registration process is standardized and transparent, reflecting the official valuation of the property in that area.

Frequently asked questions

What is the current guideline value of Kolunthuyamman Kovil Street?

The current guideline value of Kolunthuyamman Kovil Street is Rs 3,850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,500 per sq.ft in 2023 to Rs 3,850 per sq.ft in 2024, reflecting a 10% increase. The value also saw a significant increase from Rs 2,345 per sq.ft in 2017 to Rs 3,500 per sq.ft in 2023.

What is the land classification for Kolunthuyamman Kovil Street?

Kolunthuyamman Kovil Street is classified as Mixed Special Type - III, indicating its diverse usage potential.

Where is the Chengleput Joint II SRO located?

The Chengleput Joint II SRO is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone.

How is stamp duty calculated for properties in this area?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 38,50,000 would incur a stamp duty of Rs 2,69,500 at 7%.