Guideline Value for Kattabomman 2nd Street

Kattabomman 2nd Street guideline value

The current guideline value of Kattabomman 2nd 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 2nd Street has changed

In the 2012 revision, the guideline value for Kattabomman 2nd Street was Rs 2,500 per sq.ft. This figure remained unchanged in the 2023 revision, where it was still Rs 2,500 per sq.ft. However, in the 2024 revision, the guideline value increased to Rs 2,700 per sq.ft, marking an 8% increase from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 8%. It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2017 for this street.

Guideline values in Kodungaiyur

Kodungaiyur has a total of 1318 streets under the Madhavaram SRO that carry a 2024 guideline value, 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 of Kattabomman 2nd Street.

• Kattabomman 1st Street: Rs 2,700 per sq.ft (2024)
• Kattabomman 3rd Street: Rs 2,700 per sq.ft (2024)
• Kattabomman 12th Street: Rs 2,700 per sq.ft (2024)
• Kattabomman 4th Street: Rs 2,700 per sq.ft (2024)
• Kattabomman 11th Street: Rs 2,700 per sq.ft (2024)
• Kattabomman 5th Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Kattabomman 2nd 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, resulting in a total of Rs 2,43,000 for these fees. Please note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kattabomman 2nd Street?

The Kattabomman 2nd Street is covered by the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more details.

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

The guideline value is a critical factor when registering property transactions in Kodungaiyur. It determines the minimum value at which properties can be registered, ensuring that the government receives appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value helps in assessing the fair value of the property, and it is essential to consider this value during negotiations and finalizing the sale price.

Frequently asked questions

What is the current guideline value of Kattabomman 2nd Street?

The current guideline value of Kattabomman 2nd 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 for Kattabomman 2nd Street was Rs 2,500 per sq.ft in 2012 and remained the same in 2023. It increased to Rs 2,700 per sq.ft in 2024, marking an overall increase of 8% from 2012 to 2024.

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

The stamp duty for properties in Kattabomman 2nd Street is 7%, and the registration fee is 2%. For a property valued at Rs 27,00,000, the total fees would amount to Rs 2,43,000.

Which office handles property registrations for Kattabomman 2nd Street?

The Madhavaram Sub Registrar Office handles property registrations for Kattabomman 2nd Street, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

What is the land classification for Kattabomman 2nd Street?

Kattabomman 2nd Street is classified as Residential Class I Type - I, indicating its suitability for residential development.