Guideline Value for Kattabomman Main Street

Kattabomman Main Street guideline value

The current guideline value of Kattabomman Main Street in Naravarikuppam village is Rs 1,650 per sq.ft, effective from 1 July 2024. This street falls under the Redhills SRO and is classified as Residential Class II Type - I.

How the guideline value of Kattabomman Main Street has changed

The guideline value for Kattabomman Main Street has undergone several revisions over the years. In 2007, the 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. The most recent revision in 2023 saw the value rise to Rs 1,500 per sq.ft, and as of 2024, it stands at Rs 1,650 per sq.ft.

Between the revisions, the changes were as follows: From 2007 to 2012, there was a substantial increase of 275%. However, the value then dropped by 33% from 2012 to 2017. The value increased by 49% from 2017 to 2023, and finally, there was a 10% increase from 2023 to 2024. The overall change from 2007 to 2024 is an increase of 313%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Naravarikuppam

In Naravarikuppam, there are 112 streets under the Redhills SRO that carry a 2024 guideline value, ranging from Rs 1,320 to Rs 3,300 per sq.ft. The median value is Rs 1,650 per sq.ft, which is the same as the guideline value for Kattabomman Main Street.

• Kattabomman Street: Rs 1,650 per sq.ft (2024)
• Kattabomman 2nd Street: Rs 1,650 per sq.ft (2024)
• Kattabomman 1st 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 Main Street

For a 1,000 sq.ft plot at the current rate of Rs 1,650 per sq.ft, the 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, totaling Rs 1,48,500. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kattabomman Main Street?

The Sub Registrar Office that covers Kattabomman Main 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 plays a crucial role in property transactions in Naravarikuppam. It is used to determine the stamp duty and registration fees payable when a property is bought or sold. Buyers and sellers must consider the guideline value to ensure compliance with local regulations during the registration process.

When a property is registered, the guideline value is often used as a benchmark for the transaction value. This ensures that the government receives the appropriate fees based on the property's assessed value, reflecting its market standing.

Frequently asked questions

What is the current guideline value of Kattabomman Main Street?

The current guideline value of Kattabomman Main 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, showing an overall increase of 313% over the years.

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

Other streets in Naravarikuppam with a guideline value of Rs 1,650 per sq.ft in 2024 include Kattabomman Street, Kattabomman 2nd Street, and Kasi Viswanathan Street.

Where is the Sub Registrar Office located for Kattabomman Main Street?

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 Main Street?

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