Guideline Value for Katheja Nagar

Katheja Nagar guideline value

The current guideline value of Katheja Nagar is Rs 550 per sq.ft, effective from 1 July 2024. This area is located in Sholavaram village under the Redhills SRO, classified as Residential Class III Type - I.

How the guideline value of Katheja Nagar has changed

The guideline value for Katheja Nagar has undergone several revisions over the years. In 2003, the value was Rs 31 per sq.ft, which saw a significant increase to Rs 200 per sq.ft in 2007. This was followed by a jump to Rs 500 per sq.ft in 2012, but then it decreased to Rs 335 per sq.ft in 2017. The value rose again to Rs 500 per sq.ft in 2023 and is now Rs 550 per sq.ft as of the 2024 revision.

From 2017 to 2023, the increase was 49%, and from 2023 to 2024, there was a 10% rise. The overall change from 2003 to 2024 is an impressive 1674% increase. The register has no figure for this street in 2002.

Guideline values in Sholavaram

In Sholavaram, there are 98 streets under the Redhills SRO that have a 2024 guideline value ranging from Rs 515 to Rs 3,500 per sq.ft, with a median value of Rs 660 per sq.ft. Katheja Nagar's guideline value is below this median.

• Kathamba Nagar: Rs 660 per sq.ft (2024)
• Kavaraikula Street: Rs 550 per sq.ft (2024)
• Karunanidhi Street: Rs 550 per sq.ft (2024)
• Kennedy Street: Rs 550 per sq.ft (2024)
• KFT City: Rs 770 per sq.ft (2024)
• Kamaraj Nagar: Rs 770 per sq.ft (2024)

Stamp duty and registration fee for property in Katheja Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 550 per sq.ft, the total guideline value would be Rs 5,50,000. The stamp duty at 7% would be Rs 38,500, and the registration fee at 2% would be Rs 11,000, bringing the total cost for these fees to Rs 49,500. It is important to 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 further calculations.

Which Sub Registrar Office covers Katheja Nagar?

The Sub Registrar Office that covers Katheja Nagar is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

When buying or selling property in Sholavaram, the guideline value plays a crucial role in determining the stamp duty and registration fees. These fees are calculated based on the guideline value or the sale price, whichever is higher, ensuring that the appropriate taxes are collected during the registration process.

It is essential for buyers and sellers to be aware of the guideline value as it directly influences the financial aspects of property transactions. Understanding the current guideline value can help in making informed decisions during the buying or selling process.

Frequently asked questions

What is the current guideline value of Katheja Nagar?

The current guideline value of Katheja Nagar is Rs 550 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 31 per sq.ft in 2003 to Rs 550 per sq.ft in 2024, reflecting an overall increase of 1674% over this period.

What are the stamp duty and registration fees for property in Katheja Nagar?

For a property valued at Rs 5,50,000, the stamp duty would be Rs 38,500 and the registration fee would be Rs 11,000, totaling Rs 49,500 in fees.

Which office handles registrations for Katheja Nagar?

The Redhills Sub Registrar Office handles registrations for Katheja Nagar, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

How does the guideline value affect property transactions?

The guideline value affects property transactions by determining the stamp duty and registration fees, which are based on the higher of the guideline value or the sale price. This ensures that the correct taxes are levied during the registration process.