Guideline Value for Kommu Street

Kommu Street guideline value

The current guideline value of Kommu Street in Thiruvallur village is Rs 1,100 per sq.ft, effective from the 2024 revision. This street falls under the Tiruvallur Joint 1 SRO and is classified as Residential Class I Type - III.

How the guideline value of Kommu Street has changed

Over the years, the guideline value of Kommu Street has seen several revisions. The earliest recorded figure is from 2007, where the value was Rs 320 per sq.ft. This increased significantly to Rs 1,000 per sq.ft in 2012, marking a rise of 213%. However, in 2017, the value decreased to Rs 670 per sq.ft, representing a decline of 33%. The value then rose again to Rs 1,000 per sq.ft in 2023, before reaching the current figure of Rs 1,100 per sq.ft in 2024, which is a 10% increase from the previous year. Notably, there are no figures available for the years 2002 and 2003.

From 2007 to 2024, the overall increase in the guideline value is 244%, illustrating a significant upward trend in the value over this period. The revisions from 2017 to 2023 saw a notable increase of 49%, further emphasizing the changes in the guideline value of this street.

Guideline values in Thiruvallur

In Thiruvallur village, there are 172 streets under the Tiruvallur Joint 1 SRO that carry a guideline value for 2024, ranging from Rs 550 to Rs 3,850 per sq.ft. The median guideline value is Rs 1,100 per sq.ft, which is equal to the current guideline value of Kommu Street.

• Kondammapuram Street: Rs 3,300 per sq.ft (2024)
• Kosa St: Rs 880 per sq.ft (2024)
• Krishna Nagar: Rs 1,100 per sq.ft (2024)
• K.K. Nagar: Rs 1,100 per sq.ft (2024)
• KGP Nagar: Rs 1,320 per sq.ft (2024)
• Kaviyarasu Street: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Kommu Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value amounts to Rs 11,00,000. The stamp duty, charged at 7%, would be Rs 77,000, and the registration fee at 2% would be Rs 22,000, bringing the total fees to Rs 99,000. It is important to note that duty is charged on the higher of the guideline value or the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kommu Street?

The Sub Registrar Office that covers Kommu Street is the Tiruvallur Joint 1 Sub Registrar Office, located at No.201, J.n.road, Taluk Office Compound, Thiruvallur-602001. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Thiruvallur. It is used to determine the stamp duty and registration fees applicable during the sale or purchase of property. Buyers and sellers must consider this value to ensure compliance with local regulations.

When registering a property, the guideline value is compared to the sale price, and the higher of the two is used for calculating the applicable duties and fees. This ensures that the government receives the correct amount of revenue based on the property's value.

Frequently asked questions

What is the current guideline value of Kommu Street?

The current guideline value of Kommu Street is Rs 1,100 per sq.ft, effective from the 2024 revision.

How has the guideline value changed over the years?

The guideline value has changed from Rs 320 per sq.ft in 2007 to Rs 1,100 per sq.ft in 2024, showing an overall increase of 244% over this period.

What is the land classification of Kommu Street?

Kommu Street is classified as Residential Class I Type - III under the Tiruvallur Joint 1 SRO.

Where can I find the Sub Registrar Office for Kommu Street?

The Sub Registrar Office for Kommu Street is the Tiruvallur Joint 1 Sub Registrar Office, located at No.201, J.n.road, Taluk Office Compound, Thiruvallur-602001.

How is stamp duty calculated for properties in Thiruvallur?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a plot valued at Rs 11,00,000, the stamp duty would be Rs 77,000 at a rate of 7%.