Guideline Value for Kattabomman Street

Kattabomman Street guideline value

The current guideline value of Kattabomman Street is Rs 2,800 per sq.ft, effective from 1 July 2024. This street is located in Kanagam village, under the Adayar SRO, and is classified as Residential Class III Type - I.

How the guideline value of Kattabomman Street has changed

The guideline value for Kattabomman Street has seen several revisions over the years. In 2002, the value was Rs 165 per sq.ft, which increased to Rs 425 per sq.ft in 2003, marking a change of +158%. The value continued to rise, reaching Rs 800 per sq.ft in 2007, a significant increase of +88%. However, from 2007 to 2012, the value dropped to Rs 2,500 per sq.ft, reflecting a decrease of -33%. In 2017, the value was revised to Rs 1,675 per sq.ft, which then saw a substantial increase to Rs 2,500 per sq.ft in 2023, marking a rise of +49%. The most recent revision in 2024 set the value at Rs 2,800 per sq.ft, a change of +12% from the previous year.

There are no figures available for the years not mentioned in the revisions. Overall, from 2002 to 2024, the guideline value has increased by +1597%.

Guideline values in Kanagam

In Kanagam village, there are 15 streets under the Adayar SRO that have a 2024 guideline value ranging from Rs 2,800 to Rs 13,800 per sq.ft, with the median value also being Rs 2,800 per sq.ft. Kattabomman Street's 2024 figure is equal to this median.

• Kanagam Road: Rs 3,900 per sq.ft (2024)
• Lal Bahadur Street: Rs 2,800 per sq.ft (2024)
• Gandhi Street: Rs 2,800 per sq.ft (2024)
• Dr.Ambethkar Street: Rs 2,800 per sq.ft (2024)
• Nehru Street: Rs 3,900 per sq.ft (2024)
• Nethaji Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Kattabomman Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,800 per sq.ft, the total guideline value would be Rs 28,00,000. The stamp duty at 7% would amount to Rs 1,96,000, and the registration fee at 2% would be Rs 56,000, totaling Rs 2,52,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kattabomman Street?

The Sub Registrar Office that covers Kattabomman Street is the Adayar Sub Registrar Office, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20. You can find your SRO for more details.

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

The guideline value is a critical factor in the property registration process in Kanagam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction. Buyers and sellers must be aware of the current guideline value to ensure compliance with legal requirements.

When a property is bought or sold, the guideline value is used to calculate the applicable duties and fees. This value is essential for both parties to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of Kattabomman Street?

The current guideline value of Kattabomman Street is Rs 2,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly over the years, increasing from Rs 165 per sq.ft in 2002 to Rs 2,800 per sq.ft in 2024, which is an overall increase of +1597%.

What is the land classification of Kattabomman Street?

Kattabomman Street is classified as Residential Class III Type - I.

Where is the Adayar Sub Registrar Office located?

The Adayar Sub Registrar Office is located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20.

How is stamp duty calculated for properties in Kattabomman Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 28,00,000, the stamp duty would be Rs 1,96,000 at a rate of 7%.