Guideline Value for Kottabomman Cross Street

Kottabomman Cross Street guideline value

The current guideline value of Kottabomman Cross Street is Rs 2,160 per sq.ft, effective from 1 July 2024. This street is located in Zaminpallavaram village, under the Pallavaram SRO, and is classified as Residential Class III Type - I.

How the guideline value of Kottabomman Cross Street has changed

The guideline value for Kottabomman Cross Street has undergone several revisions over the years. The 2003 revision recorded a guideline value of Rs 554 per sq.ft, which increased to Rs 1,000 per sq.ft in 2007, marking a significant rise of 81%. By 2012, the value reached Rs 2,000 per sq.ft, reflecting a 100% increase from the previous revision. However, in 2017, the value dropped to Rs 1,340 per sq.ft, a decrease of 33%. The 2023 revision brought the value back up to Rs 2,000 per sq.ft, and the latest 2024 revision has set it at Rs 2,160 per sq.ft, an increase of 8% from the previous year.

Overall, from the 2003 revision to the 2024 revision, the guideline value has increased by 290%. It is important to note that there is no figure available for Kottabomman Cross Street in the 2002 register.

Guideline values in Zaminpallavaram

In Zaminpallavaram, there are 638 streets under the Pallavaram SRO, with guideline values ranging from Rs 2,100 to Rs 11,000 per sq.ft. The median value for these streets is Rs 3,300 per sq.ft, placing Kottabomman Cross Street's 2024 value below this median.

• Kottabomman Street: Rs 3,520 per sq.ft (2024)
• Kothandam Nagar 1 To 5 Streets: Rs 3,520 per sq.ft (2024)
• Kovalan 2nd Street: Rs 2,160 per sq.ft (2024)
• Kovalan Street: Rs 2,750 per sq.ft (2024)
• Kollanchavadi: Rs 2,750 per sq.ft (2024)
• Kolappan Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Kottabomman Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,160 per sq.ft, the total guideline value would be Rs 21,60,000. The stamp duty at 7% would amount to Rs 1,51,200, and the registration fee at 2% would be Rs 43,200, resulting in a total of Rs 1,94,400. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details on calculating these fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kottabomman Cross Street?

The Kottabomman Cross Street is covered by the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions within Zaminpallavaram. It serves as a reference point for determining the stamp duty and registration fees that need to be paid during the registration of property transactions. Buyers and sellers must be aware of the current guideline value to ensure compliance with legal requirements.

When purchasing or selling property, the guideline value helps in assessing the official value of the property, which is essential for tax calculations. It is important for both parties to understand this value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Kottabomman Cross Street?

The current guideline value of Kottabomman Cross Street is Rs 2,160 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 554 per sq.ft in 2003 to Rs 2,160 per sq.ft in 2024, showing an overall increase of 290% over the years.

What is the land classification for Kottabomman Cross Street?

Kottabomman Cross Street is classified as Residential Class III Type - I.

Where can I find the registration office for Kottabomman Cross Street?

The registration office for Kottabomman Cross Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

How is stamp duty calculated for properties in Kottabomman Cross Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a 1,000 sq.ft plot at the current guideline value would incur a stamp duty of Rs 1,51,200.