Guideline Value for Kilakku Kolathur Main Road - I (Railway Gate to Muslim Burial Ground)

Kilakku Kolathur Main Road - I (Railway Gate to Muslim Burial Ground) guideline value

The current guideline value of Kilakku Kolathur Main Road - I (Railway Gate to Muslim Burial Ground) is Rs 5,500 per sq.ft, effective from 1 July 2024. This street is located in Konnur village and falls under the Konnur SRO with a land classification of Residential Class I Type - I.

How the guideline value of Kilakku Kolathur Main Road - I (Railway Gate to Muslim Burial Ground) has changed

The guideline value for this street has undergone several revisions over the years. In 2012, the value was Rs 5,000 per sq.ft, which then decreased to Rs 3,350 per sq.ft in 2017. Following this, the value saw a significant increase to Rs 5,000 per sq.ft in 2023, and it rose again to Rs 5,500 per sq.ft in the 2024 revision, marking a 10% increase from the previous year. The register has no figures for the years 2002, 2003, and 2007.

From 2012 to 2017, the guideline value decreased by 33%, but from 2017 to 2023, it increased by 49%. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Konnur

In Konnur, there are 249 streets under the Konnur SRO that carry a 2024 guideline value ranging from Rs 2,750 to Rs 7,100 per sq.ft. The median value for these streets is Rs 3,800 per sq.ft, placing the guideline value of Kilakku Kolathur Main Road - I (Railway Gate to Muslim Burial Ground) above this median.

• Kilakku Kolathur Main Road - II: Rs 5,500 per sq.ft (2024)
• Kilakkumadaveethi: Rs 5,500 per sq.ft (2024)
• Kilakkumadaveethi Extension: Rs 5,500 per sq.ft (2024)
• K.K. Nagar: Rs 3,800 per sq.ft (2024)
• Kattabomman Street: Rs 3,800 per sq.ft (2024)
• Kathuvan Kuttai (Valluvar Nagar): Rs 3,800 per sq.ft (2024)

Stamp duty and registration fee for property in Kilakku Kolathur Main Road - I (Railway Gate to Muslim Burial Ground)

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value amounts to Rs 55,00,000. The stamp duty at 7% would be Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, bringing the total cost together to Rs 4,95,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Kilakku Kolathur Main Road - I (Railway Gate to Muslim Burial Ground)?

The Sub Registrar Office covering Kilakku Kolathur Main Road - I (Railway Gate to Muslim Burial Ground) is the Konnur Sub Registrar Office, located at Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai. For more information, you can find your SRO.

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

The guideline value is an essential factor in the registration process when buying or selling property in Konnur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded at a fair price.

When a property is sold, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value for Kilakku Kolathur Main Road - I?

The current guideline value for Kilakku Kolathur Main Road - I (Railway Gate to Muslim Burial Ground) is Rs 5,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 5,000 per sq.ft in 2012 to Rs 3,350 per sq.ft in 2017, then increased to Rs 5,000 per sq.ft in 2023, and finally to Rs 5,500 per sq.ft in 2024.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 55,00,000, the stamp duty is Rs 3,85,000 and the registration fee is Rs 1,10,000, totaling Rs 4,95,000. These fees are calculated based on the guideline value or the sale price, whichever is higher.

Which office handles the registration for Kilakku Kolathur Main Road - I?

The Konnur Sub Registrar Office handles the registration for Kilakku Kolathur Main Road - I, located at Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai.

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

The guideline value is used to determine the minimum price for property registration, ensuring that the transaction is recorded at a fair price. It plays a crucial role in calculating the stamp duty and registration fees during property transactions.