Guideline Value for Kattabooman Street (V.O.C. Nagar)

Kattabooman Street (V.O.C. Nagar) guideline value

The current guideline value of Kattabooman Street (V.O.C. Nagar) is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Pammal village and falls under the Pammal SRO. The land classification for this area is Commercial Class I Type - II.

How the guideline value of Kattabooman Street (V.O.C. Nagar) has changed

The guideline value for Kattabooman Street has seen significant changes over the years. In 2002, the value was Rs 185 per sq.ft, which increased to Rs 210 per sq.ft in 2003, marking a 14% rise. The following revisions saw a substantial increase, with the value jumping to Rs 360 per sq.ft in 2007, a 71% increase from the previous year. By 2017, the value had soared to Rs 1,675 per sq.ft, reflecting a remarkable 365% increase from 2007. The most recent revisions show the value at Rs 2,500 per sq.ft in 2023, which then increased to Rs 2,750 per sq.ft in 2024, a 10% rise.

It is important to note that there is no figure available for Kattabooman Street in the 2012 revision. Overall, from 2002 to 2024, the guideline value has increased by 1386%.

Guideline values in Pammal

Pammal village has a total of 926 streets under the Pammal SRO, with guideline values ranging from Rs 880 to Rs 3,300 per sq.ft. The median guideline value for these streets is Rs 2,090 per sq.ft, placing Kattabooman Street's 2024 figure above this median.

• Kattabooman Street / Muthamzhi Nagar: Rs 2,475 per sq.ft (2024)
• Kattabooman Street (Mungil Lake): Rs 1,980 per sq.ft (2024)
• Kattabomman Street, Dr.Ambedhar Nagar: Rs 1,980 per sq.ft (2024)
• Kaveri Street / Anna Nagar: Rs 2,750 per sq.ft (2024)
• Kaveri Street / Thiruvallur Nagar: Rs 2,475 per sq.ft (2024)
• Kasturibai Street / VOC Nagar: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Kattabooman Street (V.O.C. Nagar)

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value would be Rs 27,50,000. The stamp duty at 7% would amount to Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, bringing the total fees together to Rs 2,47,500. It is important to note that the 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 Kattabooman Street (V.O.C. Nagar)?

Kattabooman Street (V.O.C. Nagar) is covered by the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process for property transactions in Pammal. It serves as a benchmark for determining the stamp duty and registration fees that buyers and sellers must pay when completing a property transaction.

When a property is sold, the guideline value is used to ensure that the transaction is recorded at a value that reflects the current market conditions. This helps maintain transparency and fairness in property dealings within the region.

Frequently asked questions

What is the current guideline value of Kattabooman Street (V.O.C. Nagar)?

The current guideline value of Kattabooman Street (V.O.C. Nagar) is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased significantly from Rs 185 per sq.ft in 2002 to Rs 2,750 per sq.ft in 2024, representing an overall increase of 1386% over this period.

What is the land classification for Kattabooman Street (V.O.C. Nagar)?

Kattabooman Street (V.O.C. Nagar) is classified as Commercial Class I Type - II, indicating its suitability for commercial activities.

Where can I find the Pammal Sub Registrar Office?

The Pammal Sub Registrar Office is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone.

How is the stamp duty calculated for property transactions?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 27,50,000 would incur a stamp duty of Rs 1,92,500 at the rate of 7%.