Guideline Value for Kathiresan Street

Kathiresan Street guideline value

The current guideline value of Kathiresan Street is Rs 1,700 per sq.ft, effective from 1 July 2024. This street is located in Menambedu village under the Ambattur SRO and is classified as Residential Special Type - I.

How the guideline value of Kathiresan Street has changed

The guideline value for Kathiresan Street has seen several revisions over the years. The earliest recorded figure is from 2012, which was Rs 1,600 per sq.ft. This was followed by a decrease to Rs 1,072 per sq.ft in 2017. The value then increased significantly to Rs 1,600 per sq.ft in 2023, and the most recent revision in 2024 set the value at Rs 1,700 per sq.ft, marking a 6% increase from the previous year.

From 2012 to 2017, there was a notable decrease of 33%, but from 2017 to 2023, the guideline value increased by 49%. Overall, from 2012 to 2024, the guideline value has increased by 6%. The register does not contain figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Menambedu

In Menambedu, there are 171 streets under the Ambattur SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 6,680 per sq.ft. The median value for the village is Rs 1,003 per sq.ft, making Kathiresan Street's 2024 figure above this median.

• Karuppankulam St (Elango Street): Rs 1,000 per sq.ft (2024)
• Karukku Main Road 4th Street: Rs 1,000 per sq.ft (2024)
• Karukku Main Road 3rd Street: Rs 1,000 per sq.ft (2024)
• Karukku Main Road 2nd Street: Rs 1,000 per sq.ft (2024)
• Karukku Main Road 1st Street: Rs 1,000 per sq.ft (2024)
• Karukku Main Road: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Kathiresan Street

For a 1,000 sq.ft plot at the current rate, the guideline value amounts to Rs 17,00,000. The stamp duty at 7% would be Rs 1,19,000, and the registration fee at 2% would be Rs 34,000, totaling Rs 1,53,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kathiresan Street?

The Sub Registrar Office that covers Kathiresan Street is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Menambedu. It serves as a benchmark for determining the stamp duty and registration fees during the purchase or sale of property. Buyers and sellers must consider this value to ensure compliance with local regulations.

When registering a property, the guideline value is used to calculate the applicable fees, which are essential for the legal transfer of ownership. Ensuring that the property is valued correctly according to the guideline value can help avoid any issues during the registration process.

Frequently asked questions

What is the current guideline value of Kathiresan Street?

The current guideline value of Kathiresan Street is Rs 1,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,600 per sq.ft in 2012 to Rs 1,072 per sq.ft in 2017, then increased to Rs 1,600 per sq.ft in 2023, and finally to Rs 1,700 per sq.ft in 2024.

What is the land classification for Kathiresan Street?

Kathiresan Street is classified as Residential Special Type - I, indicating its designated use for residential purposes.

Where can I find the Sub Registrar Office for Kathiresan Street?

The Sub Registrar Office for Kathiresan Street is located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

How is stamp duty calculated for properties in Kathiresan Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 17,00,000, the stamp duty at 7% would be Rs 1,19,000.