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 Vallancheri village and falls under the Chengleput Joint II SRO with a land classification of Residential Class II Type - I.

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

Over the years, the guideline value for Konathi 2nd Cross Street has seen several revisions. The 2012 revision recorded a value of Rs 600 per sq.ft, which was followed by a decrease to Rs 402 per sq.ft in the 2017 revision. However, this value increased significantly to Rs 600 per sq.ft in the 2023 revision, and further rose to Rs 660 per sq.ft in the 2024 revision, marking a 10% increase from the previous year. The register has no figures for the years 2002, 2003, and 2007.

From 2012 to 2017, there was a decrease of 33%, while the value increased by 49% from 2017 to 2023. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Vallancheri

In Vallancheri, there are 134 streets under the Chengleput Joint II SRO, with guideline values ranging from Rs 440 to Rs 2,200 per sq.ft. The median value for these streets is Rs 825 per sq.ft, placing Konathi 2nd Cross Street's 2024 figure 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 rate of Rs 660 per sq.ft, the guideline value would be Rs 6,60,000. The stamp duty at 7% would be Rs 46,200, and the registration fee at 2% would be Rs 13,200, totaling Rs 59,400. It is important to note that the 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 more details.

Which Sub Registrar Office covers Konathi 2nd Cross Street (Ward-21)?

The Chengleput Joint II Sub Registrar Office covers Konathi 2nd Cross Street (Ward-21). The office is 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 Vallancheri

The guideline value is a crucial factor during the registration of property transactions in Vallancheri. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives appropriate revenue from stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the worth of the property in the eyes of the law. It is essential for buyers to be aware of the guideline value to avoid overpaying for a property and to ensure compliance with legal requirements during the registration process.

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 is the median guideline value in Vallancheri?

The median guideline value for streets in Vallancheri is Rs 825 per sq.ft, which is above the current value of Konathi 2nd Cross Street.

What are the stamp duty and registration fees for property in this area?

For a property valued at Rs 6,60,000, the stamp duty would be Rs 46,200 and the registration fee would be Rs 13,200, totaling Rs 59,400.

Which office handles registrations for Konathi 2nd Cross Street?

The Chengleput Joint II Sub Registrar Office handles registrations for Konathi 2nd Cross Street (Ward-21), located at 10, Kancheepuram Main Road, Chengalpattu 603 002.