Guideline Value for MAIN STREET (WARD -8)

Main Street (Ward -8) guideline value

The current guideline value of Main Street (Ward -8) is Rs 1,320 per sq.ft, effective from 1 July 2024. This street is located in Kattankollatur village under the Chengleput Joint II SRO, classified as Residential Special Type - V.

How the guideline value of Main Street (Ward -8) has changed

The guideline value for Main Street (Ward -8) has undergone several revisions over the years. The 2012 revision recorded a guideline value of Rs 1,200 per sq.ft, which then decreased to Rs 804 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 1,200 per sq.ft in the 2023 revision, and finally, the current value stands at Rs 1,320 per sq.ft as per the 2024 revision.

Between these revisions, the changes were notable. From 2012 to 2017, there was a decrease of 33%. However, from 2017 to 2023, the guideline value increased by 49%. The latest increase from 2023 to 2024 is 10%. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Kattankollatur

Kattankollatur village has a total of 453 streets under the Chengleput Joint II SRO, with 2024 guideline values ranging from Rs 440 to Rs 3,612 per sq.ft. The median guideline value in this village is Rs 1,100 per sq.ft, placing Main Street (Ward -8) above this median.

• Malar Aveunue (N): Rs 660 per sq.ft (2024)
• Maha Ngar Phase -1,2,3 (Pa): Rs 660 per sq.ft (2024)
• Mamarathu Gate Union Road (Per): Rs 990 per sq.ft (2024)
• Mangayarkarasi Street (Ward -6): Rs 1,760 per sq.ft (2024)
• Manickavasagar Street (Ward -6): Rs 1,320 per sq.ft (2024)
• Madha Koil Street (Ward -18): Rs 660 per sq.ft (2024)

Stamp duty and registration fee for property in Main Street (Ward -8)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft, the total guideline value would be Rs 13,20,000. The stamp duty at 7% would amount to Rs 92,400, and the registration fee at 2% would be Rs 26,400, resulting in a total of Rs 1,18,800. 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 further calculations.

Which Sub Registrar Office covers Main Street (Ward -8)?

Main Street (Ward -8) falls under the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor when registering property transactions in Kattankollatur. It serves as the benchmark for calculating stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property sales.

When buyers or sellers engage in a property transaction, the guideline value is referenced to determine the official valuation of the property. This value is essential for legal documentation and compliance with local regulations during the registration process.

Frequently asked questions

What is the current guideline value of Main Street (Ward -8)?

The current guideline value of Main Street (Ward -8) is Rs 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed multiple times, starting from Rs 1,200 per sq.ft in 2012, decreasing to Rs 804 per sq.ft in 2017, then increasing to Rs 1,200 per sq.ft in 2023, and finally reaching Rs 1,320 per sq.ft in 2024.

What is the land classification for Main Street (Ward -8)?

Main Street (Ward -8) is classified as Residential Special Type - V, indicating its intended use for residential purposes.

What are the stamp duty and registration fees for properties in this area?

The stamp duty is charged at 7% of the guideline value, while the registration fee is 2%. For example, a 1,000 sq.ft plot at the current rate would incur a total of Rs 1,18,800 in fees.

Where is the Sub Registrar Office for Main Street (Ward -8) located?

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, serving the registration needs for Main Street (Ward -8).