Guideline Value for KONATHI 2ND CROSS STREET (WARD-21)

Konathi 2nd Cross Street (Ward-21) guideline value

The current guideline value of Konathi 2nd Cross Street (Ward-21) is Rs 660 per sq.ft, effective from 1 July 2024. This street is located in Konathi village under the Chengleput Joint II SRO and is classified as Residential Class II Type - I.

How the guideline value of Konathi 2nd Cross Street (Ward-21) has changed

The guideline value for Konathi 2nd Cross Street has undergone several revisions over the years. In 2012, the guideline value was set at Rs 600 per sq.ft. This figure remained unchanged until the 2017 revision, where it decreased to Rs 402 per sq.ft, marking a decline of 33%. However, the subsequent revisions saw significant increases. By 2023, the value had risen to Rs 600 per sq.ft, and in the latest 2024 revision, it increased by 10% to reach Rs 660 per sq.ft.

Between the 2017 and 2023 revisions, there was a notable increase of 49%. Overall, from the 2012 revision to the 2024 revision, the guideline value has seen a modest increase of 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Konathi

In Konathi village, there are 131 streets under the Chengleput Joint II SRO that carry a 2024 guideline value, ranging from Rs 440 to Rs 2,500 per sq.ft. The median value for these streets is Rs 770 per sq.ft, indicating that the guideline value of Konathi 2nd Cross Street is below this median.

• Konathi 1st Cross Street (Ward-21): Rs 660 per sq.ft (2024)
• Konathi Selliamman Koil Street (Ward-21): Rs 660 per sq.ft (2024)
• K.K.Avenue: Rs 2,200 per sq.ft (2024)
• Kattupakkam (Ward-21): Rs 660 per sq.ft (2024)
• Kulakkarai Street (Ward-21): Rs 660 per sq.ft (2024)
• Karukkan Thoppu (Ward-21): Rs 660 per sq.ft (2024)

Stamp duty and registration fee for property in Konathi 2nd Cross Street (Ward-21)

For a 1,000 sq.ft plot at the current guideline value of Rs 660 per sq.ft, the total guideline value amounts to Rs 6,60,000. The stamp duty is charged at 7%, which totals Rs 46,200, and the registration fee is charged at 2%, amounting to Rs 13,200. Together, the total cost for stamp duty and registration fee is Rs 59,400. It is important to note that 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 Konathi 2nd Cross Street (Ward-21)?

The Sub Registrar Office that covers Konathi 2nd Cross Street (Ward-21) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is an essential aspect of property transactions in Konathi, as it determines the minimum value at which a property can be registered. When buying or selling a property, the guideline value is used to calculate the stamp duty and registration fees, ensuring that all transactions are conducted in accordance with the legal framework.

During the registration process, buyers and sellers must be aware that the stamp duty is calculated based on the higher of the guideline value or the sale price. This means that if the sale price exceeds the guideline value, the stamp duty will be based on the sale price, ensuring compliance with regulatory requirements.

Frequently asked questions

What is the current guideline value of Konathi 2nd Cross Street (Ward-21)?

The current guideline value of Konathi 2nd Cross Street (Ward-21) is Rs 660 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2012 to Rs 402 per sq.ft in 2017, then back to Rs 600 per sq.ft in 2023, and finally to Rs 660 per sq.ft in 2024.

What is the classification of land in Konathi 2nd Cross Street?

Konathi 2nd Cross Street is classified as Residential Class II Type - I, indicating its suitability for residential development.

Where can I find the Sub Registrar Office for Konathi 2nd Cross Street?

The Sub Registrar Office for Konathi 2nd Cross Street is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.

How is stamp duty calculated for properties in Konathi?

Stamp duty for properties in Konathi is calculated based on the higher of the guideline value or the sale price. For example, a property with a guideline value of Rs 6,60,000 will incur a stamp duty of Rs 46,200 at a rate of 7%.