Guideline Value for Kattabomman 1st Street

Kattabomman 1st Street guideline value

The current guideline value of Kattabomman 1st Street is Rs 1,650 per sq.ft, effective from 1 July 2024. This street is located in Naravarikuppam village, under the Redhills SRO, and is classified as Residential Class II Type - I.

How the guideline value of Kattabomman 1st Street has changed

The guideline value for Kattabomman 1st Street has undergone several revisions over the years. In 2007, the value was Rs 400 per sq.ft, which increased significantly to Rs 1,500 per sq.ft in 2012. However, it then decreased to Rs 1,005 per sq.ft in 2017. The value saw a substantial rise to Rs 1,500 per sq.ft in 2023, and it has now reached Rs 1,650 per sq.ft in the 2024 revision. The changes between these revisions are notable, with a 275% increase from 2007 to 2012, followed by a 33% decrease from 2012 to 2017, a 49% increase from 2017 to 2023, and a 10% increase from 2023 to 2024.

The register has no figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 313%.

Guideline values in Naravarikuppam

In Naravarikuppam, there are 112 streets under the Redhills SRO that carry a 2024 guideline value ranging from Rs 1,320 to Rs 3,300 per sq.ft. The median value is Rs 1,650 per sq.ft, making Kattabomman 1st Street's 2024 figure equal to this median.

• Kattabomman 2nd Street: Rs 1,650 per sq.ft (2024)
• Kattabomman Main Street: Rs 1,650 per sq.ft (2024)
• Kattabomman Street: Rs 1,650 per sq.ft (2024)
• Kavangarai Street: Rs 1,320 per sq.ft (2024)
• Kasi Viswanathan Street: Rs 1,650 per sq.ft (2024)
• Kasim Street: Rs 1,320 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 1,650 per sq.ft, the total guideline value amounts to Rs 16,50,000. The stamp duty, calculated at 7%, would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total to Rs 1,48,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Kattabomman 1st Street?

The Sub Registrar Office that covers Kattabomman 1st Street 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 Naravarikuppam

The guideline value plays a crucial role in property transactions in Naravarikuppam. It is used to determine the stamp duty and registration fees applicable during the buying or selling process. Buyers and sellers should be aware of the current guideline value, as it directly affects the financial obligations associated with property transactions.

When registering a property, the guideline value is considered to ensure that the transaction is recorded accurately. It provides a standardized valuation that helps maintain transparency and fairness in property dealings.

Frequently asked questions

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

The current guideline value of Kattabomman 1st Street is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 400 per sq.ft in 2007 to Rs 1,650 per sq.ft in 2024, reflecting a significant increase over the years.

What are the other streets with the same guideline value in Naravarikuppam?

Other streets in Naravarikuppam with the same guideline value of Rs 1,650 per sq.ft include Kattabomman 2nd Street, Kattabomman Main Street, Kattabomman Street, and Kasi Viswanathan Street.

What is the registration fee for property in Kattabomman 1st Street?

The registration fee for property in Kattabomman 1st Street is calculated at 2% of the guideline value. For a plot valued at Rs 16,50,000, the registration fee would be Rs 33,000.

Where can I find the Sub Registrar Office for Kattabomman 1st Street?

The Sub Registrar Office for Kattabomman 1st Street is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.