Guideline Value for Kondammapuram Street

Kondammapuram Street guideline value

The current guideline value of Kondammapuram Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Thiruvallur village and falls under the Tiruvallur Joint 1 SRO. The land classification for this area is Residential Special Type - V.

How the guideline value of Kondammapuram Street has changed

The guideline value for Kondammapuram Street has seen significant changes over the years. In the 2007 revision, the value was Rs 500 per sq.ft, which increased dramatically to Rs 3,000 per sq.ft in the 2012 revision. However, it then decreased to Rs 2,010 per sq.ft in 2017. Following that, the value rose to Rs 3,000 per sq.ft in the 2023 revision, and the most recent revision in 2024 set the value at Rs 3,300 per sq.ft, marking a 10% increase from the previous year.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 560%. It is important to note that there are no figures available for the years 2002 and 2003 in the register for this street.

Guideline values in Thiruvallur

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

• Kommu Street: Rs 1,100 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 Kondammapuram Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, leading to a total of Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Kondammapuram Street?

The Sub Registrar Office that covers Kondammapuram 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 is a crucial factor in property transactions in Thiruvallur. It serves as a benchmark for determining the minimum value of a property for registration purposes. When a property is sold, the guideline value is often used to calculate the stamp duty and registration fees that need to be paid.

Buyers and sellers should be aware that the guideline value may differ from the actual sale price. However, the stamp duty is charged on the higher of the two values, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Kondammapuram Street?

The current guideline value of Kondammapuram Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 500 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, with various revisions reflecting increases and decreases over the years.

What is the stamp duty for properties in Kondammapuram Street?

The stamp duty for properties in Kondammapuram Street is 7% of the guideline value or sale price, whichever is higher. For example, a property with a guideline value of Rs 33,00,000 would incur a stamp duty of Rs 2,31,000.

Which office handles property registrations for Kondammapuram Street?

The Tiruvallur Joint 1 Sub Registrar Office handles property registrations for Kondammapuram Street, located at No.201, J.n.road, Taluk Office Compound, Thiruvallur-602001.

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

The guideline value is used to determine the minimum value for property registration and to calculate the applicable stamp duty and registration fees. It is essential for buyers and sellers to be aware of this value during transactions.