Guideline Value for Kattu Colony

Kattu Colony guideline value

The current guideline value of Kattu Colony, located in Padappai village, is Rs 830 per sq.ft, effective from 1 July 2024. This area falls under the Padappai Sub Registrar Office (SRO) and is classified as Residential Class III Type - I.

How the guideline value of Kattu Colony has changed

The guideline value for Kattu Colony has seen several revisions over the years. The 2012 revision set the value at Rs 750 per sq.ft, which was then reduced to Rs 502 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 750 per sq.ft in the 2023 revision, and finally, the current rate is Rs 830 per sq.ft as of the 2024 revision, reflecting an increase of 11% from the previous year.

From the 2012 revision to the 2024 revision, the overall change is an increase of 11%. The 2017 to 2023 revision marked a notable increase of 49%, while the 2012 to 2017 revision saw a decrease of 33%. It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Padappai

In Padappai, there are 146 streets under the Padappai SRO that have a 2024 guideline value ranging from Rs 440 to Rs 4,000 per sq.ft. The median value for these streets is Rs 830 per sq.ft, which aligns with the current value for Kattu Colony.

• Keelpadappai Road: Rs 1,320 per sq.ft (2024)
• Kizhil Padappai (Periya Street): Rs 830 per sq.ft (2024)
• Kambar Street: Rs 830 per sq.ft (2024)
• Kambar Garden: Rs 1,100 per sq.ft (2024)
• K.R.Puram: Rs 1,320 per sq.ft (2024)
• Kamarajar Street: Rs 660 per sq.ft (2024)

Stamp duty and registration fee for property in Kattu Colony

For a 1,000 sq.ft plot at the current guideline value of Rs 830 per sq.ft, the total guideline value would be Rs 8,30,000. The stamp duty at 7% amounts to Rs 58,100, and the registration fee at 2% is Rs 16,600, making the total fees together Rs 74,700. 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 Kattu Colony?

The Kattu Colony area is covered by the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Padappai. It serves as a benchmark for determining the stamp duty and registration fees, ensuring that the fees are calculated fairly based on the established values.

When buying or selling property, the guideline value helps in assessing the official value of the property, which can influence the overall transaction process. It is essential for both buyers and sellers to be aware of these values to ensure compliance with local regulations during property registration.

Frequently asked questions

What is the current guideline value of Kattu Colony?

The current guideline value of Kattu Colony is Rs 830 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 750 per sq.ft in 2012 to Rs 502 per sq.ft in 2017, then to Rs 750 per sq.ft in 2023, and finally to Rs 830 per sq.ft in 2024.

What is the land classification of Kattu Colony?

Kattu Colony is classified as Residential Class III Type - I, indicating its designation for residential purposes.

Where can I find the registration office for Kattu Colony?

The registration office for Kattu Colony is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

How is stamp duty calculated for property in Kattu Colony?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a plot valued at Rs 8,30,000, the stamp duty at 7% would be Rs 58,100.