Guideline Value for Kundrathur main road

Kundrathur main road guideline value

The current guideline value of Kundrathur main road is Rs 500 per sq.ft, effective from 1 July 2024. This road is located in Somangalam village under the Sriperumpudur SRO, classified as Commercial Class I Type - I.

How the guideline value of Kundrathur main road has changed

Over the years, the guideline value for Kundrathur main road has seen several revisions. The earliest available revision is from 2012, where the value was set at Rs 500 per sq.ft. In 2017, this figure decreased to Rs 335 per sq.ft, marking a decline of 33%. However, from 2017 to 2023, the value increased significantly by 49%, bringing it back to Rs 500 per sq.ft. The 2024 revision has maintained this figure at Rs 500 per sq.ft, showing no change from the previous year.

It is important to note that there are no available figures for the years 2002, 2003, and 2007 in the register for this street. The overall change from 2012 to 2024 shows no net change, as the value remains at Rs 500 per sq.ft.

Guideline values in Somangalam

In Somangalam village, there are 86 streets under the Sriperumpudur SRO that carry a 2024 guideline value ranging from Rs 150 to Rs 800 per sq.ft, with a median value of Rs 350 per sq.ft. The guideline value for Kundrathur main road is above this median, reflecting its commercial classification.

• Kulakkarai street: Rs 400 per sq.ft (2024)
• KR Garden Phase-II: Rs 400 per sq.ft (2024)
• KR Garden: Rs 250 per sq.ft (2024)
• Kasthuri Nagar: Rs 400 per sq.ft (2024)
• Karuneekar Nagar: Rs 250 per sq.ft (2024)
• Manikandapuri: Rs 200 per sq.ft (2024)

Stamp duty and registration fee for property in Kundrathur main road

For a 1,000 sq.ft plot at the current guideline value of Rs 500 per sq.ft, the total guideline value would be Rs 5,00,000. The stamp duty at 7% would amount to Rs 35,000, and the registration fee at 2% would be Rs 10,000, bringing the total cost for these charges to Rs 45,000. 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 Kundrathur main road?

The Kundrathur main road falls under the jurisdiction of the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Somangalam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid at the time of registration.

When a property is registered, the guideline value is used to calculate the applicable charges, ensuring that the fees are based on a standardized value set by the government. This helps maintain transparency in property transactions.

Frequently asked questions

What is the current guideline value for Kundrathur main road?

The current guideline value for Kundrathur main road is Rs 500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Kundrathur main road has remained at Rs 500 per sq.ft since 2023. It was Rs 335 per sq.ft in 2017 and Rs 500 per sq.ft in 2012, showing fluctuations over the years.

What is the land classification for Kundrathur main road?

Kundrathur main road is classified as Commercial Class I Type - I, indicating its suitability for commercial activities.

Where can I find the registration office for Kundrathur main road?

The registration office for Kundrathur main road is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.

How is stamp duty calculated for properties in Somangalam?

Stamp duty for properties in Somangalam is calculated based on the guideline value or the sale price, whichever is higher. This ensures that the registration fees reflect the true value of the property being transacted.