Guideline Value for Katvindhan Street

Katvindhan Street guideline value

The current guideline value of Katvindhan Street is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Zaminpallavaram village, under the Pallavaram SRO, and is classified as Residential Class II Type - I.

How the guideline value of Katvindhan Street has changed

Over the years, the guideline value of Katvindhan Street has seen several revisions. The earliest recorded revision in 2003 set the value at Rs 554 per sq.ft. This increased to Rs 800 per sq.ft in 2007, marking a significant rise of 44%. The value then surged to Rs 2,500 per sq.ft in 2012, reflecting a substantial increase of 213%. However, in 2017, the value dropped to Rs 1,675 per sq.ft, a decrease of 33%. The value climbed again to Rs 2,500 per sq.ft in 2023, before reaching the current rate of Rs 2,750 per sq.ft in 2024, which is a 10% increase from the previous year. It is important to note that the register has no figure for this street in 2002.

Guideline values in Zaminpallavaram

Zaminpallavaram village has a total of 638 streets under the Pallavaram SRO, each carrying a 2024 guideline value ranging from Rs 2,100 to Rs 11,000 per sq.ft. The median guideline value for these streets is Rs 3,300 per sq.ft, placing Katvindhan Street's current value below this median.

• Kattabomman Street: Rs 3,850 per sq.ft (2024)
• Kasthuribai Street: Rs 3,300 per sq.ft (2024)
• Kennadi Street: Rs 3,520 per sq.ft (2024)
• Kennedy Street (Naidu Shop Street): Rs 3,520 per sq.ft (2024)
• Karunanithi Street: Rs 3,300 per sq.ft (2024)
• Kolappan Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Katvindhan Street

For a 1,000 sq.ft plot at the current rate of Rs 2,750 per sq.ft, the guideline value amounts to Rs 27,50,000. The stamp duty, charged at 7%, would be Rs 1,92,500, while the registration fee at 2% would be Rs 55,000. Together, these fees total 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. You can also use the stamp duty and registration fee calculator for precise calculations.

Which Sub Registrar Office covers Katvindhan Street?

The Sub Registrar Office that covers Katvindhan Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Zaminpallavaram. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the transaction.

When a property is registered, the authorities use the guideline value to assess the transaction's worth, ensuring that the appropriate fees are collected. This helps maintain transparency and accountability in property transactions within the region.

Frequently asked questions

What is the current guideline value of Katvindhan Street?

The current guideline value of Katvindhan Street 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 changed from Rs 554 per sq.ft in 2003 to Rs 2,750 per sq.ft in 2024, reflecting a total increase of 396% over the years.

What are the stamp duty and registration fees for properties on Katvindhan Street?

For a property valued at Rs 27,50,000, the stamp duty would be Rs 1,92,500 and the registration fee would be Rs 55,000, totaling Rs 2,47,500.

Which Sub Registrar Office handles transactions for Katvindhan Street?

The Pallavaram Sub Registrar Office handles transactions for Katvindhan Street, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

What is the median guideline value of streets in Zaminpallavaram?

The median guideline value of streets in Zaminpallavaram is Rs 3,300 per sq.ft, which is above the current value of Katvindhan Street.