Guideline Value for K.C.SAMMANDHANAR STREET

K.C.Sammandhanar Street guideline value

The current guideline value of K.C.Sammandhanar Street in Vengathur village is Rs 800 per sq.ft, effective from 1 July 2024. This street falls under the Manavalanagar SRO and is classified as Residential Class I Type - II.

How the guideline value of K.C.Sammandhanar Street has changed

The guideline value for K.C.Sammandhanar Street has seen several revisions over the years. In 2007, the value was Rs 250 per sq.ft, which increased significantly to Rs 800 per sq.ft in 2012. However, it then decreased to Rs 536 per sq.ft in 2017. The most recent revisions in 2023 and 2024 maintained the value at Rs 800 per sq.ft, showing no change from the previous year. The register has no figures for the years 2002 and 2003.

From 2017 to 2023, the value increased by 49%. The jump from 2007 to 2012 was a remarkable 220%, while the overall change from 2007 to 2024 reflects a 220% increase as well. The fluctuations in the guideline value highlight the dynamic nature of property assessments in this area.

Guideline values in Vengathur

In Vengathur, there are 186 streets under the Manavalanagar SRO that carry a 2024 guideline value ranging from Rs 500 to Rs 2,000 per sq.ft, with a median value of Rs 1,000 per sq.ft. K.C.Sammandhanar Street's current guideline value is below this median.

• Kaveri Sreet: Rs 1,300 per sq.ft (2024)
• Kattapomman Street: Rs 1,000 per sq.ft (2024)
• K.K.Nagar Kudisai Pakuthi: Rs 500 per sq.ft (2024)
• KARUNANITHI NAGAR 4th CROSS STREET: Rs 1,300 per sq.ft (2024)
• KARUNANITHI NAGAR 3rd CROSS STREET: Rs 1,000 per sq.ft (2024)
• KARUNANITHI NAGAR 2nd CROSS STREET: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in K.C.Sammandhanar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 800 per sq.ft, the total guideline value amounts to Rs 8,00,000. The stamp duty at 7% would be Rs 56,000, and the registration fee at 2% would be Rs 16,000, making the total fees Rs 72,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers K.C.Sammandhanar Street?

K.C.Sammandhanar Street falls under the jurisdiction of the Manavalanagar Sub Registrar Office, located at Thandalam Main Road, Nungambakkam Village, Manavalanagar-602002, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Vengathur. It is used to determine the stamp duty and registration fees that need to be paid during the buying or selling process. This ensures that the government receives appropriate revenue based on the assessed value of the property.

When a property is sold, the guideline value is compared to the sale price to determine the applicable duties. If the sale price is higher than the guideline value, the duty is charged based on the sale price, ensuring that the transaction is fairly assessed.

Frequently asked questions

What is the current guideline value of K.C.Sammandhanar Street?

The current guideline value of K.C.Sammandhanar Street is Rs 800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has fluctuated, starting at Rs 250 per sq.ft in 2007, rising to Rs 800 in 2012, then decreasing to Rs 536 in 2017, and remaining at Rs 800 in both 2023 and 2024.

What is the median guideline value in Vengathur?

The median guideline value in Vengathur is Rs 1,000 per sq.ft, while K.C.Sammandhanar Street's current value is below this median.

What fees are associated with buying property in K.C.Sammandhanar Street?

When buying property, buyers must pay stamp duty at 7% and a registration fee at 2% based on the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for K.C.Sammandhanar Street located?

The Sub Registrar Office covering K.C.Sammandhanar Street is located at Thandalam Main Road, Nungambakkam Village, Manavalanagar-602002, Chennai registration zone.