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 Potheri village and falls under the Chengleput Joint II SRO. The land classification for this area is Residential Class II Type - I.

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

Since the 2012 revision, the guideline value for Konathi 2nd Cross Street (Ward-21) has seen various changes. The value was Rs 600 per sq.ft in 2012, which then decreased to Rs 402 per sq.ft in 2017, marking a decline of 33%. However, from 2017 to 2023, the value increased significantly to Rs 600 per sq.ft, reflecting a rise of 49%. The most recent revision in 2024 has set the guideline value at Rs 660 per sq.ft, which is a 10% increase from the previous year.

It is important to note that there are no recorded guideline values for this street in the years 2002, 2003, and 2007. Overall, from 2012 to 2024, there has been a 10% increase in the guideline value.

Guideline values in Potheri

Potheri village has a total of 129 streets under the Chengleput Joint II SRO that carry a 2024 guideline value, ranging from Rs 440 to Rs 2,970 per sq.ft. The median value for these streets is Rs 770 per sq.ft, which means that the guideline value of Konathi 2nd Cross Street (Ward-21) 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)
• 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)
• Kumaran 1st Street (Ward-20): Rs 880 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 would be Rs 6,60,000. The stamp duty at 7% would amount to Rs 46,200, while the registration fee at 2% would be Rs 13,200. Together, the total cost for these fees would be Rs 59,400. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more detailed calculations, 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, in the Chengalpattu registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value is a critical factor in the registration process of property transactions in Potheri. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property in the area.

When a property is registered, the guideline value helps ensure that the transaction is recorded at a fair value, which is essential for tax purposes. Buyers and sellers should be aware of the guideline value to understand the financial implications of their property transactions.

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 increased to Rs 600 per sq.ft in 2023, and finally to Rs 660 per sq.ft in 2024.

What are the other streets in Potheri with the same guideline value?

Other streets in Potheri that share the same guideline value of Rs 660 per sq.ft in 2024 include Konathi 1st Cross Street, Konathi Selliamman Koil Street, Kattupakkam, Kulakkarai Street, and Karukkan Thoppu.

What is the registration fee for property in Konathi 2nd Cross Street (Ward-21)?

The registration fee for property in Konathi 2nd Cross Street (Ward-21) is calculated at 2% of the guideline value, which means for a property valued at Rs 6,60,000, the registration fee would be Rs 13,200.

Where can I find the Sub Registrar Office for Konathi 2nd Cross Street (Ward-21)?

The Sub Registrar Office for Konathi 2nd Cross Street (Ward-21) is located at 10, Kancheepuram Main Road, Chengalpattu 603 002. You can also find your SRO online.