Guideline Value for Kometti Street

Kometti Street guideline value

The current guideline value of Kometti Street is Rs 200 per sq.ft, effective from 1 July 2024. This street is located in Arani village, under the Arani_Tiruvallur SRO, and is classified as Residential Class IV Type - I.

How the guideline value of Kometti Street has changed

In the 2012 revision, the guideline value was set at Rs 150 per sq.ft. This value increased to Rs 100 per sq.ft in the 2017 revision, marking a decrease of 33%. However, from 2017 to 2023, the value saw a significant increase of 100%, bringing it back to Rs 200 per sq.ft. The 2023 revision also maintained the same value of Rs 200 per sq.ft in the 2024 revision, indicating no change between these two years.

The register has no figures for Kometti Street for the years 2002, 2003, and 2007. Overall, from 2012 to 2024, the guideline value has increased by 33%.

Guideline values in Arani

In Arani, there are 51 streets under the Arani_Tiruvallur SRO that carry a 2024 guideline value ranging from Rs 200 to Rs 600 per sq.ft, with a median value of Rs 300 per sq.ft. Kometti Street's 2024 figure of Rs 200 per sq.ft is below this median.

• Kavarai Street: Rs 350 per sq.ft (2024)
• Karnam Street: Rs 400 per sq.ft (2024)
• Kammalar Street: Rs 400 per sq.ft (2024)
• Macha Veedi: Rs 350 per sq.ft (2024)
• Kallangi Street: Rs 400 per sq.ft (2024)
• Irukkam Veethi: Rs 400 per sq.ft (2024)

Stamp duty and registration fee for property in Kometti Street

For a 1,000 sq.ft plot at the current guideline value of Rs 200 per sq.ft, the total guideline value amounts to Rs 2,00,000. The stamp duty at 7% would be Rs 14,000, and the registration fee at 2% would be Rs 4,000, together totaling Rs 18,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kometti Street?

The Sub Registrar Office covering Kometti Street is the Arani_Tiruvallur Sub Registrar Office, located at No.10, S.p Kovil Street, Arani, Ponneri (tk), Thiruvallur (dt) - 601 101. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property in Arani. It determines the amount of stamp duty and registration fees that must be paid during the transaction process.

When a property is sold or purchased, the guideline value serves as a benchmark for calculating these fees, ensuring that the registration reflects a fair assessment of the property's value according to the local regulations.

Frequently asked questions

What is the current guideline value of Kometti Street?

The current guideline value of Kometti Street is Rs 200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Kometti Street has changed from Rs 150 per sq.ft in 2012 to Rs 100 per sq.ft in 2017, then increased to Rs 200 per sq.ft in 2023 and remained the same in 2024.

What is the land classification of Kometti Street?

Kometti Street is classified as Residential Class IV Type - I, indicating its intended use for residential purposes.

Where can I find the registration office for Kometti Street?

The registration office for Kometti Street is the Arani_Tiruvallur Sub Registrar Office, located at No.10, S.p Kovil Street, Arani, Ponneri (tk), Thiruvallur (dt) - 601 101.

How is the stamp duty calculated for properties in Kometti Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value would incur a stamp duty of Rs 14,000.