Guideline Value for Old Kathibara Road

Old Kathibara Road guideline value

The current guideline value of Old Kathibara Road is Rs 11,000 per sq.ft, effective from 1 July 2024. This road is located in Parangimalai village and falls under the Chennai South Joint II SRO. The land classification for this area is Commercial Class I Type - I.

How the guideline value of Old Kathibara Road has changed

The guideline value for Old Kathibara Road has seen significant changes over the years. In 2002, the guideline value was Rs 511 per sq.ft, which increased to Rs 639 per sq.ft in 2003, marking a 25% rise. The value continued to rise to Rs 1,600 per sq.ft in 2007, a substantial increase of 150%. Following this, the value surged to Rs 10,000 per sq.ft in 2012, reflecting a dramatic increase of 525%. However, in 2017, the value decreased to Rs 6,700 per sq.ft, a decline of 33%. The value then rose to Rs 10,000 per sq.ft in 2023, followed by a further increase to the current rate of Rs 11,000 per sq.ft in 2024, which is a 10% rise.

Overall, from 2002 to 2024, the guideline value has increased by 2053%. It is important to note that there are no figures available for the revisions in the years between the listed revisions.

Guideline values in Parangimalai

In Parangimalai, there are 233 streets under the Chennai South Joint II SRO that carry a 2024 guideline value, ranging from Rs 2,750 to Rs 11,000 per sq.ft. The median guideline value in this area is Rs 3,850 per sq.ft, placing Old Kathibara Road's 2024 figure above that median.

• Old Maduvakkarai Street: Rs 5,500 per sq.ft (2024)
• Old Poonamallee Road: Rs 7,700 per sq.ft (2024)
• Otthavadai Street: Rs 3,300 per sq.ft (2024)
• North Silver Street: Rs 2,750 per sq.ft (2024)
• North Raja Street: Rs 3,300 per sq.ft (2024)
• North Parade Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Old Kathibara Road

For a 1,000 sq.ft plot at the current rate of Rs 11,000 per sq.ft, the guideline value amounts to Rs 1,10,00,000. The stamp duty at 7% would be Rs 7,70,000, and the registration fee at 2% would be Rs 2,20,000, bringing the total to Rs 9,90,000. 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 Old Kathibara Road?

The Sub Registrar Office that covers Old Kathibara Road is the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Parangimalai. It serves as a benchmark for calculating the stamp duty and registration fees that are applicable during the transaction. Buyers and sellers must be aware of the guideline value to ensure compliance with local regulations.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable fees. This ensures that the government receives the appropriate revenue based on the value of the property being transferred.

Frequently asked questions

What is the current guideline value of Old Kathibara Road?

The current guideline value of Old Kathibara Road is Rs 11,000 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 511 per sq.ft in 2002 to Rs 11,000 per sq.ft in 2024, reflecting an overall increase of 2053% over this period.

What is the land classification for Old Kathibara Road?

The land classification for Old Kathibara Road is Commercial Class I Type - I.

Where can I find the Sub Registrar Office for Old Kathibara Road?

The Sub Registrar Office for Old Kathibara Road is the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.

How is the stamp duty calculated for properties in Parangimalai?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 1,10,00,000, the stamp duty would be calculated at 7% of this amount.