Guideline Value for KONNUR HIGH ROAD(FROM MEDAVAKAM TANK MAINROAD TO OTTERI BRIDGE)

Konnur High Road(From Medavakam Tank Mainroad To Otteri Bridge) guideline value

The current guideline value of Konnur High Road(From Medavakam Tank Mainroad To Otteri Bridge) is Rs 5,500 per sq.ft, effective from 1 July 2024. This road is located in Purasaivakkam village and falls under the Purasaivakkam SRO. The land classification for this area is Residential Class III Type - I.

How the guideline value of Konnur High Road(From Medavakam Tank Mainroad To Otteri Bridge) has changed

The guideline value for Konnur High Road has seen several revisions over the years. In 2007, the value was Rs 2,000 per sq.ft, which increased significantly to Rs 5,000 per sq.ft in 2012, marking a 150% rise. However, from 2012 to 2017, the value dropped to Rs 3,350 per sq.ft, a decrease of 33%. The value then rose again to Rs 5,000 per sq.ft in 2023, reflecting a 49% increase. The most recent revision in 2024 set the value at Rs 5,500 per sq.ft, a 10% increase from the previous year.

It is important to note that there are no figures available for the revisions in 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 175%.

Guideline values in Purasaivakkam

In Purasaivakkam, there are 519 streets under the Purasaivakkam SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 18,100 per sq.ft. The median value is Rs 5,500 per sq.ft, which is the same as the current value for Konnur High Road.

• Krishnappa Mudali Lane: Rs 4,400 per sq.ft (2024)
• Krishnappa Mudali Street: Rs 4,400 per sq.ft (2024)
• Kilpauk Garden Street: Rs 13,400 per sq.ft (2024)
• Kilpauk Garden Road 1st Street: Rs 13,400 per sq.ft (2024)
• Kilpauk Garden Link Road: Rs 13,400 per sq.ft (2024)
• Kilpauk Garden 4th Street: Rs 13,400 per sq.ft (2024)

Stamp duty and registration fee for property in Konnur High Road(From Medavakam Tank Mainroad To Otteri Bridge)

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value would be 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, bringing the total fees to Rs 4,95,000. It is important to note that the 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 Konnur High Road(From Medavakam Tank Mainroad To Otteri Bridge)?

The Konnur High Road(From Medavakam Tank Mainroad To Otteri Bridge) falls under the jurisdiction of the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Purasaivakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is in line with the prevailing market rates.

When buying or selling property, the guideline value helps in calculating the applicable stamp duty and registration fees. These fees are based on the guideline value or the sale price, whichever is higher, ensuring compliance with the regulations set by the Registration Department.

Frequently asked questions

What is the current guideline value of Konnur High Road?

The current guideline value of Konnur High Road(From Medavakam Tank Mainroad To Otteri 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 from Rs 2,000 per sq.ft in 2007 to Rs 5,500 per sq.ft in 2024, reflecting an overall increase of 175% over the years.

What is the land classification for Konnur High Road?

The land classification for Konnur High Road is Residential Class III Type - I, indicating its suitability for residential development.

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

For a property valued at Rs 55,00,000, the stamp duty would be Rs 3,85,000, and the registration fee would be Rs 1,10,000, totaling Rs 4,95,000.

Where is the Sub Registrar Office located for Konnur High Road?

The Purasaivakkam Sub Registrar Office is located at 93/1, Bricklin Road, Otteri, Chennai- 600 012, and it covers the Konnur High Road area.