Guideline Value for VEERAPANDIA KATTABOMMAN STREET

Veerapandia Kattabomman Street guideline value

The current guideline value of Veerapandia Kattabomman Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Karapakkam village under the Neelankarai SRO and is classified as Residential Class II Type - II.

How the guideline value of Veerapandia Kattabomman Street has changed

Since the 2007 revision, the guideline value has seen significant changes. In 2007, the guideline value was Rs 500 per sq.ft, which increased dramatically to Rs 2,000 per sq.ft in 2012, marking a rise of 300%. However, it then decreased to Rs 1,340 per sq.ft in 2017, a reduction of 33%. The value rose again to Rs 2,000 per sq.ft in 2023, and most recently to Rs 2,200 per sq.ft in 2024, reflecting a 10% increase.

From 2017 to 2023, the value increased by 49%. Overall, from 2007 to 2024, the guideline value has risen by 340%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Karapakkam

In Karapakkam, there are 185 streets under the Neelankarai SRO, with guideline values ranging from Rs 1,000 to Rs 10,700 per sq.ft. The median guideline value for these streets is Rs 1,700 per sq.ft, placing Veerapandia Kattabomman Street's 2024 figure above the median.

• Velu Street: Rs 1,100 per sq.ft (2024)
• Vembuli Street: Rs 1,100 per sq.ft (2024)
• VENDRASI AMMAN KOIL 1st CROSS STREEET: Rs 1,100 per sq.ft (2024)
• Vendrasi Amman Koil Streeet: Rs 1,100 per sq.ft (2024)
• Vendrasi Amman Koil Streeet Extension: Rs 1,100 per sq.ft (2024)
• Vai Kund-Sundaram Estate: Rs 1,700 per sq.ft (2024)

Stamp duty and registration fee for property in Veerapandia Kattabomman Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total cost to Rs 1,98,000. Duty is charged on the higher of the guideline value and the sale price. You can calculate your fees using the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Veerapandia Kattabomman Street?

The Sub Registrar Office that covers Veerapandia Kattabomman Street is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Karapakkam. It is used to determine the stamp duty and registration fees applicable during the buying or selling process. Buyers and sellers must be aware of the current guideline value to ensure compliance with local regulations.

When registering a property, the guideline value is compared with the sale price, and the higher amount is used to calculate the applicable duties and fees. This ensures that the government receives the correct revenue based on the property's value.

Frequently asked questions

What is the current guideline value of Veerapandia Kattabomman Street?

The current guideline value of Veerapandia Kattabomman Street is Rs 2,200 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 500 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 340% over the years.

What is the registration office for Veerapandia Kattabomman Street?

The Neelankarai Sub Registrar Office covers Veerapandia Kattabomman Street, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

What are the stamp duty and registration fees for properties on this street?

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 and the registration fee would be Rs 44,000, totaling Rs 1,98,000.

How does the guideline value affect property transactions?

The guideline value is used to calculate the stamp duty and registration fees during property transactions. It is essential to know the current guideline value as it determines the fees payable at registration.