Guideline Value for Kattabomman 2nd Street

Kattabomman 2nd Street guideline value

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

The guideline value for Kattabomman 2nd Street has undergone several revisions over the years. In 2007, the guideline 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. Following this, the value rose to Rs 1,500 per sq.ft in 2023 and finally reached Rs 1,650 per sq.ft in the 2024 revision.

Between the revisions, notable changes include a 275% increase from 2007 to 2012, followed by a 33% decrease from 2012 to 2017. The value then saw a substantial increase of 49% from 2017 to 2023, and a further 10% increase from 2023 to 2024. The register has no figure for Kattabomman 2nd Street for the years 2002 and 2003.

Guideline values in Naravarikuppam

In Naravarikuppam, there are 112 streets under the Redhills SRO that have a 2024 guideline value ranging from Rs 1,320 to Rs 3,300 per sq.ft. The median guideline value for these streets is Rs 1,650 per sq.ft, which aligns with the current value for Kattabomman 2nd Street.

• Kattabomman 1st 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 2nd 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 at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total fees to Rs 1,48,500. It is important to note that 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 2nd Street?

The Sub Registrar Office covering Kattabomman 2nd 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 is a crucial factor in property transactions in Naravarikuppam, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value when negotiating the sale price to ensure compliance with registration requirements.

When a property is sold, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

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

The current guideline value of Kattabomman 2nd 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, with various increases and decreases in between.

What are the other streets in Naravarikuppam with similar guideline values?

Other streets in Naravarikuppam with a 2024 guideline value of Rs 1,650 per sq.ft include Kattabomman 1st Street, Kattabomman Main Street, Kattabomman Street, and Kasi Viswanathan Street.

Where is the Redhills Sub Registrar Office located?

The Redhills Sub Registrar Office is located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

How is the stamp duty calculated for properties in Kattabomman 2nd Street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 16,50,000, the stamp duty would be Rs 1,15,500.