Guideline Value for Kattabomman Street (Gandhi Nagar)

Kattabomman Street (Gandhi Nagar) guideline value

The current guideline value of Kattabomman Street (Gandhi Nagar) is Rs 1,800 per sq.ft, effective from 1 July 2024. This street is located in Oragadam village, under the Ambattur SRO, and is classified as Residential Class I Type - II.

How the guideline value of Kattabomman Street (Gandhi Nagar) has changed

The guideline value has seen several revisions over the years. The 2012 revision set the value at Rs 1,700 per sq.ft, which was followed by a decrease to Rs 1,139 per sq.ft in the 2017 revision, marking a decline of 33%. However, from 2017 to 2023, the value increased significantly to Rs 1,700 per sq.ft, reflecting a rise of 49%. The latest revision in 2024 has further increased the guideline value to Rs 1,800 per sq.ft, a 6% increase from the previous year.

It is important to note that there are no figures available for Kattabomman Street for the years 2002, 2003, and 2007. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 6%.

Guideline values in Oragadam

In Oragadam, there are 596 streets under the Ambattur SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 3,500 per sq.ft, with a median value of Rs 2,200 per sq.ft. Kattabomman Street's 2024 figure is below this median.

• Kaveri Street: Rs 2,400 per sq.ft (2024)
• Kasthuribai Street: Rs 1,600 per sq.ft (2024)
• Kennady Street: Rs 2,400 per sq.ft (2024)
• Kesavapillai Koil Street: Rs 1,800 per sq.ft (2024)
• Kanniyamman Koil Street: Rs 1,600 per sq.ft (2024)
• Kannathasan Street(banu nagar west): Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Kattabomman Street (Gandhi Nagar)

For a 1,000 sq.ft plot at the current rate of Rs 1,800 per sq.ft, the guideline value amounts to Rs 18,00,000. The stamp duty at 7% would be Rs 1,26,000, and the registration fee at 2% would be Rs 36,000, totaling Rs 1,62,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kattabomman Street (Gandhi Nagar)?

The Sub Registrar Office that covers Kattabomman Street (Gandhi Nagar) is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process of property transactions in Oragadam. It is used to calculate the stamp duty and registration fees that are payable when a property is bought or sold.

When registering a property, the buyer must pay the stamp duty based on the higher of the guideline value or the sale price. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Kattabomman Street (Gandhi Nagar)?

The current guideline value of Kattabomman Street (Gandhi Nagar) is Rs 1,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Over the years, the guideline value has changed from Rs 1,700 per sq.ft in 2012 to Rs 1,139 per sq.ft in 2017, then increased to Rs 1,700 per sq.ft in 2023, and finally to Rs 1,800 per sq.ft in 2024.

What is the land classification of Kattabomman Street (Gandhi Nagar)?

Kattabomman Street (Gandhi Nagar) is classified as Residential Class I Type - II.

Which Sub Registrar Office covers Kattabomman Street (Gandhi Nagar)?

The Ambattur Sub Registrar Office covers Kattabomman Street (Gandhi Nagar), located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

How is stamp duty calculated for properties in Kattabomman Street (Gandhi Nagar)?

Stamp duty for properties in Kattabomman Street (Gandhi Nagar) is calculated at 7% of the guideline value or the sale price, whichever is higher. Additionally, a registration fee of 2% applies.