Guideline Value for Kattabomman 7th Street Lane

Kattabomman 7th Street Lane guideline value

The current guideline value for Kattabomman 7th Street Lane is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Kodungaiyur village, under the Madhavaram SRO, and falls under the Residential Class II Type - I land classification.

How the guideline value of Kattabomman 7th Street Lane has changed

The guideline value for Kattabomman 7th Street Lane has undergone several revisions over the years. The earliest recorded revision was in 2012, where the value was Rs 1,800 per sq.ft. This was followed by a decrease to Rs 1,340 per sq.ft in the 2017 revision. In 2023, the value increased to Rs 2,000 per sq.ft, and the most recent revision in 2024 set the value at Rs 2,200 per sq.ft, marking a 10% increase from the previous year. Notably, there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

From 2012 to 2017, there was a decrease of 26%, while the value rose by 49% from 2017 to 2023. Overall, from 2012 to 2024, the guideline value has increased by 22%.

Guideline values in Kodungaiyur

Kodungaiyur has 1,318 streets under the Madhavaram SRO, with guideline values ranging from Rs 1,900 to Rs 4,000 per sq.ft as of 2024. The median guideline value in this area is Rs 2,700 per sq.ft, placing Kattabomman 7th Street Lane's 2024 figure below this median.

• Kattabomman 7th Street: Rs 2,200 per sq.ft (2024)
• Kattabomman 8th Street: Rs 2,700 per sq.ft (2024)
• Kattabomman 6th Street: Rs 2,700 per sq.ft (2024)
• Kattabomman 9th Street: Rs 2,700 per sq.ft (2024)
• Kattabomman 5th Street: Rs 2,700 per sq.ft (2024)
• Kattabomman Main Road: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Kattabomman 7th Street Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total cost for these fees to Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kattabomman 7th Street Lane?

The Sub Registrar Office that covers Kattabomman 7th Street Lane 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 serves as a benchmark for property transactions in Kodungaiyur. When buying or selling property, this value is used to determine the applicable stamp duty and registration fees, which are calculated based on the guideline value or the sale price, whichever is higher.

It is crucial for buyers and sellers to be aware of the guideline value, as it directly impacts the overall cost of property transactions and ensures compliance with local regulations during registration.

Frequently asked questions

What is the current guideline value for Kattabomman 7th Street Lane?

The current guideline value for Kattabomman 7th Street Lane is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,800 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then increased to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,200 per sq.ft in 2024.

What is the median guideline value in Kodungaiyur?

The median guideline value in Kodungaiyur is Rs 2,700 per sq.ft, with Kattabomman 7th Street Lane's value being below this median.

What are the stamp duty and registration fees for properties in Kattabomman 7th Street Lane?

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 and the registration fee would be Rs 44,000, totaling Rs 1,98,000.

Where is the Madhavaram Sub Registrar Office located?

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