Guideline Value for K.P.Kandan Nagar Main Road & Ramaniam Magnum

K.P.Kandan Nagar Main Road & Ramaniam Magnum guideline value

The current guideline value of K.P.Kandan Nagar Main Road & Ramaniam Magnum is Rs 7,300 per sq.ft, effective from 1 July 2024. This area is located in Kottivakkam village and falls under the Adayar SRO, with a land classification of Residential Special Type - I.

How the guideline value of K.P.Kandan Nagar Main Road & Ramaniam Magnum has changed

The guideline value for K.P.Kandan Nagar Main Road & Ramaniam Magnum has undergone several revisions over the years. The earliest recorded revision is from 2012, where the value was Rs 6,600 per sq.ft. This was followed by a decrease to Rs 4,422 per sq.ft in 2017. In 2023, the value increased to Rs 6,600 per sq.ft, and the most recent revision in 2024 has set the value at Rs 7,300 per sq.ft, marking an increase of 11% from the previous year.

From 2012 to 2017, the guideline value saw a decrease of 33%. However, from 2017 to 2023, there was a significant increase of 49%. Overall, from 2012 to 2024, the guideline value has increased by 11%. The register has no figures for the revisions in 2002, 2003, and 2007 for this street.

Guideline values in Kottivakkam

Kottivakkam village has a total of 284 streets under the Adayar SRO that carry a 2024 guideline value, ranging from Rs 1,700 to Rs 8,500 per sq.ft. The median value for these streets is Rs 3,900 per sq.ft, placing K.P.Kandan Nagar Main Road & Ramaniam Magnum above this median.

• Kottivakkam Panchayat Office Road: Rs 4,400 per sq.ft (2024)
• Kuppam Bharathi street: Rs 3,900 per sq.ft (2024)
• Kuppam Gandhi Nagar 1st Street: Rs 1,700 per sq.ft (2024)
• Kuppam Gandhi Nagar 2nd Street: Rs 1,700 per sq.ft (2024)
• Kuppam Gandhi Nagar 3rd Street: Rs 3,300 per sq.ft (2024)
• Kuppam Gandhi Nagar 4th Street: Rs 1,700 per sq.ft (2024)

Stamp duty and registration fee for property in K.P.Kandan Nagar Main Road & Ramaniam Magnum

For a 1,000 sq.ft plot at the current guideline value of Rs 7,300 per sq.ft, the total guideline value would be Rs 73,00,000. The stamp duty at 7% would amount to Rs 5,11,000, and the registration fee at 2% would be Rs 1,46,000, bringing the total to Rs 6,57,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers K.P.Kandan Nagar Main Road & Ramaniam Magnum?

The Sub Registrar Office that covers K.P.Kandan Nagar Main Road & Ramaniam Magnum is the Adayar Sub Registrar Office, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration process of property transactions in Kottivakkam. It is used to determine the stamp duty and registration fees that must be paid when buying or selling property in the area.

When a property is registered, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value for K.P.Kandan Nagar Main Road & Ramaniam Magnum?

The current guideline value for K.P.Kandan Nagar Main Road & Ramaniam Magnum is Rs 7,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 6,600 per sq.ft in 2012 to Rs 4,422 per sq.ft in 2017, then back to Rs 6,600 per sq.ft in 2023, and finally to Rs 7,300 per sq.ft in 2024.

What is the land classification for K.P.Kandan Nagar Main Road & Ramaniam Magnum?

The land classification for K.P.Kandan Nagar Main Road & Ramaniam Magnum is Residential Special Type - I.

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

The stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, and the registration fee is 2%. For a 1,000 sq.ft plot, the total fees would amount to Rs 6,57,000.

Where can I find the Sub Registrar Office for K.P.Kandan Nagar Main Road & Ramaniam Magnum?

The Sub Registrar Office for K.P.Kandan Nagar Main Road & Ramaniam Magnum is the Adayar Sub Registrar Office, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20.