Guideline Value for Kattabomman Street

Kattabomman Street guideline value

The current guideline value of Kattabomman Street is Rs 770 per sq.ft, effective from 1 July 2024. This street is located in Padiyanallur village, under the jurisdiction of the Redhills SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Kattabomman Street has changed

The guideline value for Kattabomman Street has undergone several revisions over the years. The earliest recorded figure is from 2003, where the value was Rs 171 per sq.ft. This increased significantly to Rs 400 per sq.ft in 2007, marking a change of +134%. The value then rose to Rs 700 per sq.ft in 2012, reflecting a +75% increase. However, it saw a decrease of -33% to Rs 469 per sq.ft in 2017. The 2023 revision set the value at Rs 700 per sq.ft, and the latest revision in 2024 brought it to Rs 770 per sq.ft, which is a +10% increase from the previous year.

It is important to note that there is no figure recorded for Kattabomman Street in 2002. Overall, from 2003 to 2024, the guideline value has increased by +350%.

Guideline values in Padiyanallur

In Padiyanallur, there are 132 streets under the Redhills SRO that carry a 2024 guideline value ranging from Rs 385 to Rs 2,750 per sq.ft. The median guideline value for these streets is Rs 770 per sq.ft, which is equal to the current value of Kattabomman Street.

• Kennedy Street: Rs 770 per sq.ft (2024)
• karikalvalavan Street (Bhavani Nagar): Rs 770 per sq.ft (2024)
• Karikalan Nagar: Rs 1,320 per sq.ft (2024)
• Kanniamman Koil Street (PANNEERVAKKAM): Rs 385 per sq.ft (2024)
• Ko.C. Mani Street: Rs 770 per sq.ft (2024)
• Kannagi 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 770 per sq.ft, the total guideline value would be Rs 7,70,000. The stamp duty, calculated at 7%, amounts to Rs 53,900, while the registration fee at 2% is Rs 15,400. Together, these fees total Rs 69,300. It is important to note that duty is charged on the higher of the guideline value or the sale price. For more details, 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 Redhills Sub Registrar Office. The address is Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. To find your specific SRO, you can visit find your SRO.

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

The guideline value is a crucial factor during the registration of property transactions in Padiyanallur. It serves as a benchmark for determining the stamp duty and registration fees payable at the time of property transfer.

When buying or selling property, the guideline value is considered to ensure that the transaction is registered at a value that reflects the official rates set by the government. This helps maintain transparency and accountability in property dealings.

Frequently asked questions

What is the current guideline value of Kattabomman Street?

The current guideline value of Kattabomman Street is Rs 770 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 171 per sq.ft in 2003 to Rs 770 per sq.ft in 2024, reflecting an overall increase of +350% over this period.

What is the median guideline value in Padiyanallur?

The median guideline value in Padiyanallur is Rs 770 per sq.ft, which is the same as the current value for Kattabomman Street.

What are the stamp duty rates applicable?

The stamp duty for property transactions in Kattabomman Street is charged at 7% of the guideline value or sale price, whichever is higher.

Where is the Redhills Sub Registrar Office located?

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