Guideline Value for Kattabomman Street

Kattabomman Street guideline value

The current guideline value of Kattabomman Street in Naravarikuppam village, under the Redhills SRO, is Rs 1,650 per sq.ft as per the 2024 revision effective from 1 July 2024. This area is classified as Residential Class II 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 3,283 per sq.ft, which then decreased to Rs 335 per sq.ft in 2003. Following that, the value increased to Rs 400 per sq.ft in 2007, and then significantly rose to Rs 1,500 per sq.ft in 2012. However, it dropped to Rs 1,005 per sq.ft in 2017. The value then increased to Rs 1,500 per sq.ft in 2023, and currently stands at Rs 1,650 per sq.ft in 2024.

From 2023 to 2024, there was an increase of 10%. The value increased by 49% from 2017 to 2023, while it decreased by 33% from 2012 to 2017. The value saw a substantial increase of 275% from 2007 to 2012, and a smaller increase of 19% from 2003 to 2007. Notably, there was a significant decrease of 90% from 2002 to 2003. Overall, from 2002 to 2024, the guideline value has decreased by 50%.

Guideline values in Naravarikuppam

Naravarikuppam has 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 guideline value is Rs 1,650 per sq.ft, which is the same as the current value for Kattabomman Street.

• Kattabomman Main 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 Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value would be Rs 16,50,000. The stamp duty at 7% would amount to Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total to Rs 1,48,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kattabomman Street?

The Kattabomman Street falls under 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 is a crucial element in property transactions in Naravarikuppam. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the registration process is transparent and standardized.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees. This value helps in assessing the financial obligations associated with the property transaction, ensuring that all parties are aware of the costs involved.

Frequently asked questions

What is the current guideline value of Kattabomman Street?

The current guideline value of Kattabomman Street is Rs 1,650 per sq.ft as per the 2024 revision.

How has the guideline value changed over the years?

The guideline value has changed several times, starting from Rs 3,283 per sq.ft in 2002 to Rs 1,650 per sq.ft in 2024, with various increases and decreases in between.

What is the land classification for Kattabomman Street?

Kattabomman Street is classified as Residential Class II Type - I, indicating its suitability for residential development.

Where can I find the Redhills Sub Registrar Office?

The Redhills Sub Registrar Office is located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

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 a property valued at Rs 16,50,000, the stamp duty would be Rs 1,15,500 at 7%.