Guideline Value for Kattabomman 8th Street

Kattabomman 8th Street guideline value

The current guideline value of Kattabomman 8th 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 8th Street has changed

The guideline value for Kattabomman 8th Street has seen several revisions over the years. The 2012 revision set the value at Rs 2,500 per sq.ft, which then decreased to Rs 1,675 per sq.ft in the 2017 revision. Following this, the value increased to Rs 2,500 per sq.ft in 2023, and the most recent 2024 revision has set it at Rs 2,700 per sq.ft. There are no figures available for this street in the 2002, 2003, and 2007 revisions.

From 2017 to 2023, the guideline value rose by 49%. The increase from 2023 to 2024 is 8%. Overall, from 2012 to 2024, the guideline value has increased by 8% despite the dip in 2017. The current value of Rs 2,700 per sq.ft aligns with the median guideline value for Kodungaiyur streets.

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 is Rs 2,700 per sq.ft, which is the same as the current value for Kattabomman 8th Street.

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

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

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

Which Sub Registrar Office covers Kattabomman 8th Street?

The Kattabomman 8th Street falls under the Madhavaram Sub Registrar Office located at No.7, Roja Nagar, Madhavaram, Chennai-600060. For more information, you can find your SRO.

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

The guideline value is used as a basis for determining the stamp duty and registration fees when buying or selling property in Kodungaiyur. It is essential for both buyers and sellers to be aware of this value to ensure compliance with local regulations during property transactions.

When a property is registered, the guideline value or the sale price, whichever is higher, is used to calculate the applicable duties and fees. This ensures that the government receives the correct amount based on the established value of the property.

Frequently asked questions

What is the current guideline value of Kattabomman 8th Street?

The current guideline value of Kattabomman 8th 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 1,675 per sq.ft in 2017, then increased to Rs 2,500 per sq.ft in 2023, and finally to Rs 2,700 per sq.ft in 2024.

What is the land classification for Kattabomman 8th Street?

Kattabomman 8th Street is classified as Residential Class I Type - I.

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 are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the higher of the guideline value or the sale price of the property. For example, a 1,000 sq.ft plot at the current guideline value incurs a total fee of Rs 2,43,000.