Guideline Value for Kattabomman Main Road

Kattabomman Main Road guideline value

The current guideline value of Kattabomman Main Road is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Kodungaiyur village under the Madhavaram SRO, classified as Residential Class I Type - I.

How the guideline value of Kattabomman Main Road has changed

The guideline value for Kattabomman Main Road has undergone several revisions over the years. In 2012, the value was set at Rs 2,500 per sq.ft, which then decreased to Rs 1,675 per sq.ft in 2017. Following this, the value increased significantly to Rs 2,500 per sq.ft in 2023, and then further rose to Rs 2,700 per sq.ft in the 2024 revision.

From 2017 to 2023, there was a notable increase of 49%. The change from 2023 to 2024 reflects an 8% increase. Overall, from 2012 to 2024, the guideline value has increased by 8%. It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Kodungaiyur

Kodungaiyur has a total of 1,318 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 value is Rs 2,700 per sq.ft, which is equal to the current guideline value for Kattabomman Main Road.

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

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, leading to a total of Rs 2,43,000. It is important to note that 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 Main Road?

The Sub Registrar Office that covers Kattabomman Main Road 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 is a crucial factor in the registration process of property transactions in Kodungaiyur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Kattabomman Main Road?

The current guideline value of Kattabomman Main Road 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 to Rs 2,500 per sq.ft in 2023, and finally to Rs 2,700 per sq.ft in 2024.

What are the guideline values of other streets in Kodungaiyur?

Other streets in Kodungaiyur have varying guideline values. For instance, Kattabomman 9th Street and Kattabomman 8th Street are both valued at Rs 2,700 per sq.ft in 2024.

How is stamp duty calculated for properties on Kattabomman Main Road?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a 1,000 sq.ft plot at the guideline value of Rs 2,700 per sq.ft would incur a total stamp duty of Rs 1,89,000.

Which office do I go to for registration in Kodungaiyur?

The Madhavaram Sub Registrar Office is responsible for registrations in Kodungaiyur. It is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.