Guideline Value for KANAGAMMAL LANE

Kanagammal Lane guideline value

The current guideline value of Kanagammal Lane, located in Purasaivakkam village under the Purasaivakkam SRO, is Rs 4,400 per sq.ft, effective from 1 July 2024. This area falls under Residential Class IV Type - I land classification.

How the guideline value of Kanagammal Lane has changed

The guideline value for Kanagammal Lane has seen several revisions over the years. In 2007, the value was Rs 1,100 per sq.ft, which increased significantly to Rs 4,000 per sq.ft in 2012, marking a change of +264%. However, from 2012 to 2017, the value decreased to Rs 2,680 per sq.ft, a decline of -33%. The value then rose to Rs 4,000 per sq.ft in 2023, reflecting an increase of +49% from the previous revision.

With the latest revision in 2024, the guideline value is now Rs 4,400 per sq.ft, representing a +10% increase from 2023. Overall, from 2007 to 2024, the guideline value has increased by +300%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Purasaivakkam

In Purasaivakkam, there are 519 streets listed under the Purasaivakkam SRO with a 2024 guideline value ranging from Rs 2,200 to Rs 18,100 per sq.ft. The median value for these streets is Rs 5,500 per sq.ft, placing Kanagammal Lane's 2024 guideline value below this median.

• Kancheepuram Munuswamy Maistry Street: Rs 5,500 per sq.ft (2024)
• Kandappa Achary Street: Rs 6,500 per sq.ft (2024)
• Kandappa Gramani Street: Rs 4,900 per sq.ft (2024)
• Kandappa Mudali High Road (A) Thana Street: Rs 9,900 per sq.ft (2024)
• Kandaswamy Koil Street: Rs 6,000 per sq.ft (2024)
• Kamaraj Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Kanagammal Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value would be Rs 44,00,000. The stamp duty, charged at 7%, would amount to Rs 3,08,000, while the registration fee at 2% would be Rs 88,000, bringing the total cost to Rs 3,96,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Kanagammal Lane?

Kanagammal Lane falls under the jurisdiction of the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can find your SRO for more details.

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

The guideline value is a crucial factor during the registration of property transactions in Purasaivakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when a property is bought or sold.

When you register 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 appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Kanagammal Lane?

The current guideline value of Kanagammal Lane 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 increased from Rs 1,100 per sq.ft in 2007 to Rs 4,400 per sq.ft in 2024, reflecting an overall increase of +300% over the years.

What is the land classification of Kanagammal Lane?

Kanagammal Lane is classified as Residential Class IV Type - I, which indicates its designation for residential use.

What are the stamp duty rates for property transactions?

The stamp duty for property transactions in Kanagammal Lane is charged at a rate of 7% on the guideline value or the sale price, whichever is higher.

Where is the Purasaivakkam Sub Registrar Office located?

The Purasaivakkam Sub Registrar Office is located at 93/1, Bricklin Road, Otteri, Chennai- 600 012, and it handles registrations for properties in Kanagammal Lane.