Guideline Value for Komathi Street

Komathi Street guideline value

The current guideline value of Komathi Street in Ullagaram village, under the Alandur SRO, is Rs 3,900 per sq.ft, effective from 1 July 2024. This street is classified as Residential Class I Type - III.

How the guideline value of Komathi Street has changed

The guideline value of Komathi Street has seen several revisions over the years. In 2002, the guideline value was Rs 253 per sq.ft, which increased to Rs 284 per sq.ft in 2003. Following this, the value rose significantly to Rs 1,200 per sq.ft in 2007. The 2012 revision saw a decrease to Rs 3,500 per sq.ft, which was then followed by a notable increase to Rs 2,345 per sq.ft in 2017. The most recent revision in 2023 set the value at Rs 3,500 per sq.ft, leading to the current value of Rs 3,900 per sq.ft in 2024.

Overall, from 2002 to 2024, the guideline value has increased by 1,442%. The changes from one revision to the next include an increase of 11% from 2023 to 2024, a 49% increase from 2017 to 2023, a decrease of 33% from 2012 to 2017, a significant increase of 192% from 2007 to 2012, and a remarkable increase of 323% from 2003 to 2007. The register has no figure for the years between these revisions.

Guideline values in Ullagaram

In Ullagaram, there are 298 streets under the Alandur SRO that carry a 2024 guideline value ranging from Rs 1,700 to Rs 5,500 per sq.ft. The median value for these streets is Rs 2,800 per sq.ft, making the 2024 figure for Komathi Street above the median.

• Krishna Nagar 1st Street: Rs 2,800 per sq.ft (2024)
• Krishna Nagar 2nd Street: Rs 2,800 per sq.ft (2024)
• Krishna Nagar 3rd Street: Rs 2,800 per sq.ft (2024)
• Krishna Nagar Main: Rs 2,800 per sq.ft (2024)
• Krishna Nagar Main Road: Rs 2,800 per sq.ft (2024)
• Krishnayar Street: Rs 2,800 per sq.ft (2024)

Stamp duty and registration fee for property in Komathi Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,900 per sq.ft, the total guideline value would be Rs 39,00,000. The stamp duty at 7% would amount to Rs 2,73,000, while the registration fee at 2% would be Rs 78,000, bringing the total fees together to Rs 3,51,000. 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 Komathi Street?

The Sub Registrar Office that covers Komathi Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for more information.

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

The guideline value is a critical factor when buying or selling property in Ullagaram. It serves as a benchmark for determining the stamp duty and registration fees that are applicable during the transaction. Buyers must be aware that these fees are calculated based on the guideline value or the sale price, whichever is higher.

When registering a property, the guideline value ensures that the government receives the appropriate revenue from property transactions. It is essential for both buyers and sellers to understand how these values are determined and applied in the registration process to avoid any discrepancies.

Frequently asked questions

What is the current guideline value of Komathi Street?

The current guideline value of Komathi Street is Rs 3,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed multiple times, starting from Rs 253 per sq.ft in 2002 to Rs 3,900 per sq.ft in 2024, reflecting an overall increase of 1,442% over the years.

What is the land classification of Komathi Street?

Komathi Street is classified as Residential Class I Type - III, indicating its suitability for residential development.

What are the stamp duty and registration fees for property in Komathi Street?

For a 1,000 sq.ft plot, the total guideline value is Rs 39,00,000, leading to a stamp duty of Rs 2,73,000 and a registration fee of Rs 78,000, totaling Rs 3,51,000.

Which office handles registrations for Komathi Street?

The Alandur Sub Registrar Office handles registrations for Komathi Street, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.