Guideline Value for West Street

West Street guideline value

The current guideline value of West Street in Kathirvedu village, under the Ambattur SRO, is Rs 1,300 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class III Type - II land classification.

How the guideline value of West Street has changed

The guideline value for West Street has seen several revisions over the years. In 2002, the value was Rs 67 per sq.ft, which increased to Rs 80 per sq.ft in 2003. Following this, there was a significant rise to Rs 200 per sq.ft in 2007, and then it jumped to Rs 1,200 per sq.ft in 2012. However, the value decreased to Rs 804 per sq.ft in 2017. The 2023 revision saw it rise to Rs 1,200 per sq.ft, and the latest 2024 revision is Rs 1,300 per sq.ft.

The changes between the revisions are notable. From 2002 to 2024, the overall increase is 1,840%. The most significant jump occurred from 2007 to 2012, with a 500% increase. In contrast, the value decreased by 33% from 2012 to 2017. The increase from 2023 to 2024 is 8%, and from 2017 to 2023, it was 49%.

Guideline values in Kathirvedu

In Kathirvedu, there are 78 streets under the Ambattur SRO that have a 2024 guideline value ranging from Rs 1,100 to Rs 6,000 per sq.ft, with a median of Rs 1,500 per sq.ft. West Street's 2024 figure is below this median.

• Yes Pee Avenue: Rs 2,700 per sq.ft (2024)
• V.O.C.Street: Rs 1,100 per sq.ft (2024)
• V.M.K.Nagar: Rs 2,000 per sq.ft (2024)
• Vinayakar Koil Street: Rs 1,300 per sq.ft (2024)
• Veera Ragavalu Nagar Extension: Rs 2,300 per sq.ft (2024)
• Veera Ragavalu Nagar: Rs 2,300 per sq.ft (2024)

Stamp duty and registration fee for property in West Street

For a 1,000 sq.ft plot at the current rate of Rs 1,300 per sq.ft, the guideline value would be Rs 13,00,000. The stamp duty at 7% would be Rs 91,000, and the registration fee at 2% would be Rs 26,000, totaling Rs 1,17,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers West Street?

The Sub Registrar Office that covers West Street is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Kathirvedu. When a property is sold, the guideline value is used to determine the applicable stamp duty and registration fees, which are essential for the legal transfer of ownership.

Buyers and sellers should be aware that the stamp duty is charged based on the higher amount between the guideline value and the sale price. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of West Street?

The current guideline value of West Street is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 67 per sq.ft in 2002 to Rs 1,300 per sq.ft in 2024, showing an overall increase of 1,840% over this period.

What are the other streets in Kathirvedu with their guideline values?

Other streets in Kathirvedu include Yes Pee Avenue at Rs 2,700 per sq.ft, V.O.C.Street at Rs 1,100 per sq.ft, and Vinayakar Koil Street at Rs 1,300 per sq.ft for 2024.

What are the stamp duty and registration fees for property in West Street?

For a property valued at Rs 13,00,000, the stamp duty would be Rs 91,000, and the registration fee would be Rs 26,000, totaling Rs 1,17,000.

Where can I find the Sub Registrar Office for West Street?

The Sub Registrar Office for West Street is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.