Guideline Value for Kattabomman 1st Street

Kattabomman 1st Street guideline value

The current guideline value of Kattabomman 1st Street is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Kodungaiyur village, under the Madhavaram SRO, and is classified as Residential Class I Type - I.

How the guideline value of Kattabomman 1st Street has changed

In the 2012 revision, the guideline value for Kattabomman 1st Street was set at Rs 2,500 per sq.ft. This figure remained unchanged in the 2023 revision. However, in the 2024 revision, the guideline value increased to Rs 2,700 per sq.ft, marking an 8% rise from the previous year.

Between the 2012 and 2024 revisions, the overall change in the guideline value is also 8%. There are no figures available for the revisions in 2002, 2003, 2007, and 2017 for this street.

Guideline values in Kodungaiyur

Kodungaiyur has a total of 1,318 streets under the Madhavaram SRO, with guideline values ranging from Rs 1,900 to Rs 4,000 per sq.ft. The median guideline value for these streets is Rs 2,700 per sq.ft, which is equal to the current guideline value for Kattabomman 1st Street.

• Kattabomman 12th Street: Rs 2,700 per sq.ft (2024)
• Kattabomman 11th Street: Rs 2,700 per sq.ft (2024)
• Kattabomman 2nd Street: Rs 2,700 per sq.ft (2024)
• Kattabomman 10th Street: Rs 2,700 per sq.ft (2024)
• Kattabomman 3rd Street: Rs 2,700 per sq.ft (2024)
• Kattabomman 4th Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Kattabomman 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value would be Rs 27,00,000. The stamp duty at 7% would amount to Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, bringing the total fees to Rs 2,43,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Kattabomman 1st Street?

The Sub Registrar Office that covers Kattabomman 1st Street is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Kodungaiyur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees.

When a property is sold, the sale price is compared to the guideline value. The higher of the two figures is used to calculate the stamp duty and registration fees, ensuring compliance with legal requirements during the transaction.

Frequently asked questions

What is the current guideline value of Kattabomman 1st Street?

The current guideline value of Kattabomman 1st Street is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2012 to Rs 2,500 per sq.ft in 2023, and then increased to Rs 2,700 per sq.ft in 2024, reflecting an 8% rise from the previous year.

What is the classification of Kattabomman 1st Street?

Kattabomman 1st Street is classified as Residential Class I Type - I, indicating its designation for residential purposes.

Where can I find the Madhavaram Sub Registrar Office?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

How is stamp duty calculated for properties in Kattabomman 1st Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 27,00,000, the stamp duty at 7% would be Rs 1,89,000.