Guideline Value for KONNUR HIGH ROAD (MEDAVAKKAM TANK TO OTTERY BRIDGE)

Konnur High Road (Medavakkam Tank To Ottery Bridge) guideline value

The current guideline value of Konnur High Road (Medavakkam Tank To Ottery Bridge) is Rs 5,500 per sq.ft, effective from 1 July 2024. This street is located in Perambur village, under the Purasaivakkam SRO, and is classified as Commercial Class I Type - I.

How the guideline value of Konnur High Road (Medavakkam Tank To Ottery Bridge) has changed

The guideline value for Konnur High Road has seen several revisions over the years. In 2002, the value was Rs 1,001 per sq.ft, which increased to Rs 1,098 per sq.ft in 2003, marking a 10% rise. The value then rose significantly to Rs 2,000 per sq.ft in 2007, reflecting an 82% increase. By 2012, the value was Rs 5,000 per sq.ft, which was a 150% increase from the previous revision. However, in 2017, the value decreased to Rs 3,350 per sq.ft, showing a decline of 33%.

In the subsequent revisions, the guideline value increased to Rs 5,000 per sq.ft in 2023, a 49% rise from 2017. The latest revision in 2024 has set the guideline value at Rs 5,500 per sq.ft, which is a 10% increase from the previous year. There are no figures available for the revisions in years other than those mentioned.

Guideline values in Perambur

In Perambur, there are 1,114 streets under the Purasaivakkam SRO that carry a 2024 guideline value, ranging from Rs 1,600 to Rs 7,100 per sq.ft. The median guideline value for these streets is Rs 2,700 per sq.ft, placing Konnur High Road's 2024 figure above that median.

• Kosapalayam: Rs 1,600 per sq.ft (2024)
• Ko. Su. Mani Street: Rs 2,700 per sq.ft (2024)
• Krishnadoss 1st Lane: Rs 3,800 per sq.ft (2024)
• Krishnadoss 1st Street: Rs 4,300 per sq.ft (2024)
• Krishnadoss 2nd Lane: Rs 3,800 per sq.ft (2024)
• Krishnadoss 2nd Street: Rs 3,800 per sq.ft (2024)

Stamp duty and registration fee for property in Konnur High Road (Medavakkam Tank To Ottery Bridge)

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value is Rs 55,00,000. The stamp duty at 7% would be Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, making a total of Rs 4,95,000. Please note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Konnur High Road (Medavakkam Tank To Ottery Bridge)?

The Sub Registrar Office that covers Konnur High Road is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can find your SRO for further assistance.

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

The guideline value is an important factor when registering property in Perambur. It serves as a reference point for calculating stamp duty and registration fees, ensuring that the government receives its due share from property transactions.

When a buyer or seller agrees on a sale price, the stamp duty is charged on the higher of the guideline value or the sale price. This means that even if the sale price is lower than the guideline value, the stamp duty will still be calculated based on the guideline value.

Frequently asked questions

What is the current guideline value of Konnur High Road?

The current guideline value of Konnur High Road (Medavakkam Tank To Ottery Bridge) is Rs 5,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 1,001 in 2002 to Rs 5,500 in 2024, reflecting an overall increase of 449% over the years.

What is the land classification for Konnur High Road?

Konnur High Road is classified as Commercial Class I Type - I, indicating its suitability for commercial activities.

Where can I find the registration office for Konnur High Road?

The registration office for Konnur High Road is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.

How is stamp duty calculated for property transactions?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. This ensures that the government receives the appropriate fees during property transactions.