Guideline Value for Survey No 1 to 4

Survey No 1 to 4 guideline value

The current guideline value for Survey No 1 to 4 in Kakapallam village, under the Konnur SRO, is Rs 4,400 per sq.ft, effective from 1 July 2024. The land classification for this area is Industries Type - I.

How the guideline value of Survey No 1 to 4 has changed

Over the years, the guideline value for Survey No 1 to 4 has seen several revisions. The 2007 revision set the value at Rs 2,000 per sq.ft, which increased to Rs 4,000 per sq.ft in the 2012 revision. However, in 2017, the value saw a significant increase to Rs 2,680 per sq.ft, followed by a rise to Rs 4,000 per sq.ft in 2023. The latest revision in 2024 has set the guideline value at Rs 4,400 per sq.ft. The register has no figures for the years 2002 and 2003 for this street.

The changes between these revisions are notable. From 2007 to 2012, there was a 100% increase in the guideline value, which then saw a decrease of 33% from 2012 to 2017. Following this, there was a substantial increase of 49% from 2017 to 2023. Finally, the current revision from 2023 to 2024 reflects a 10% increase, resulting in an overall increase of 120% from 2007 to 2024.

Guideline values in Kakapallam

No specific village figures have been provided for Kakapallam. Currently, there are no other streets in Kakapallam under the Konnur SRO.

Stamp duty and registration fee for property in Survey No 1 to 4

For a 1,000 sq.ft plot at the current rate of Rs 4,400 per sq.ft, the guideline value amounts to Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, totaling Rs 3,96,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Survey No 1 to 4?

The Konnur Sub Registrar Office covers Survey No 1 to 4. The office is located at Sub Register Office, Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Kakapallam. It is used to determine the stamp duty and registration fees that must be paid during the transaction. Buyers and sellers should be aware of the current guideline value to ensure they are prepared for these costs.

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 duties. This ensures that the registration reflects the true value of the property being transferred.

Frequently asked questions

What is the current guideline value for Survey No 1 to 4?

The current guideline value for Survey No 1 to 4 in Kakapallam village is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2007 to Rs 4,400 per sq.ft in 2024, reflecting an overall increase of 120% over this period.

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

The stamp duty is charged at 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total cost would be Rs 3,96,000, including both fees.

Where is the Konnur Sub Registrar Office located?

The Konnur Sub Registrar Office is located at Sub Register Office, Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai.

How is the guideline value used in property transactions?

The guideline value is used to calculate the stamp duty and registration fees during property transactions. It is compared with the sale price, and the higher amount is used for determining the applicable duties.