Guideline Value for Kattabomman Streetsouth

Kattabomman Streetsouth guideline value

The current guideline value of Kattabomman Streetsouth is Rs 1,650 per sq.ft, effective from 1 July 2024. This street is located in Thiruvallur village and falls under the Tiruvallur Joint 1 SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Kattabomman Streetsouth has changed

The guideline value for Kattabomman Streetsouth has seen significant changes over the years. In 2007, the value was Rs 320 per sq.ft, which increased dramatically to Rs 1,500 per sq.ft in 2012, marking a rise of 369%. However, the value decreased to Rs 1,005 per sq.ft in 2017, reflecting a decline of 33%. The 2023 revision set the value at Rs 1,500 per sq.ft, which was then increased to Rs 1,650 per sq.ft in 2024, representing a 10% rise.

Overall, from 2007 to 2024, the guideline value has increased by 416%. The register has no figures for Kattabomman Streetsouth for the years 2002 and 2003.

Guideline values in Thiruvallur

In Thiruvallur village, there are 172 streets under the Tiruvallur Joint 1 SRO that carry a 2024 guideline value ranging from Rs 550 to Rs 3,850 per sq.ft, with a median value of Rs 1,100 per sq.ft. Kattabomman Streetsouth's 2024 guideline value is above this median.

• Kattabomman Streetnorth: Rs 1,650 per sq.ft (2024)
• Kaviyarasu Street: Rs 1,100 per sq.ft (2024)
• KGP Nagar: Rs 1,320 per sq.ft (2024)
• K.K. Nagar: Rs 1,100 per sq.ft (2024)
• Kommu Street: Rs 1,100 per sq.ft (2024)
• Kondammapuram Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Kattabomman Streetsouth

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, together totaling Rs 1,48,500. It is important to note that duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kattabomman Streetsouth?

The Sub Registrar Office covering Kattabomman Streetsouth is the Tiruvallur Joint 1 Sub Registrar Office, located at No.201, J.n.road, Taluk Office Compound, Thiruvallur-602001. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Thiruvallur. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property being sold or purchased.

When a property is registered, the guideline value is considered to ensure that the transaction reflects a fair value for taxation purposes. Buyers and sellers should be aware that the guideline value may affect the overall costs associated with the transaction.

Frequently asked questions

What is the current guideline value of Kattabomman Streetsouth?

The current guideline value of Kattabomman Streetsouth 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 320 per sq.ft in 2007 to Rs 1,650 per sq.ft in 2024, showing an overall increase of 416% over this period.

What are the stamp duty and registration fees for properties in Kattabomman Streetsouth?

For a 1,000 sq.ft property at the current guideline value, the stamp duty would be Rs 1,15,500, and the registration fee would be Rs 33,000, totaling Rs 1,48,500.

Which Sub Registrar Office handles registrations for Kattabomman Streetsouth?

The Tiruvallur Joint 1 Sub Registrar Office handles registrations for Kattabomman Streetsouth, located at No.201, J.n.road, Taluk Office Compound, Thiruvallur-602001.

What is the significance of the guideline value in property transactions?

The guideline value is used to calculate stamp duty and registration fees during property transactions. It ensures that the value of the property is assessed correctly for taxation purposes.