Guideline Value for KANDAN NAGAR

Kandan Nagar guideline value

The current guideline value of Kandan Nagar is Rs 800 per sq.ft, effective from 1 July 2024. This area is located in Thachoor_2 village under the Ponneri SRO and is classified as Residential Class I Type - I.

How the guideline value of Kandan Nagar has changed

The guideline value for Kandan Nagar has undergone significant changes over the years. The register has no figure for this street for the years 2002, 2003, 2007, 2012, and 2017. In the 2023 revision, the guideline value was set at Rs 200 per sq.ft, and in the 2024 revision, it increased to Rs 800 per sq.ft, marking a substantial increase of 300% from the previous year.

This dramatic rise reflects the current guideline value of Rs 800 per sq.ft as of July 2024. The increase from Rs 200 to Rs 800 indicates a significant shift in the valuation of properties in this area, positioning Kandan Nagar above the median value of Rs 600 per sq.ft for other streets in Thachoor_2.

Guideline values in Thachoor_2

In Thachoor_2, there are 40 streets under the Ponneri SRO that have a 2024 guideline value ranging from Rs 202 to Rs 1,800 per sq.ft. Kandan Nagar's current guideline value is above the median of Rs 600 per sq.ft. Here are the guideline values for other streets in Thachoor_2:

• K.P.K. Nagar: Rs 202 per sq.ft (2024)
• Jai Nagar: Rs 600 per sq.ft (2024)
• Kumaran Nagar: Rs 800 per sq.ft (2024)
• Illaihi Nagar: Rs 400 per sq.ft (2024)
• Lakshmi Avenue: Rs 400 per sq.ft (2024)
• Gorti Green Garden: Rs 400 per sq.ft (2024)

Stamp duty and registration fee for property in Kandan Nagar

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, bringing the total cost for these fees to Rs 72,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Kandan Nagar?

Kandan Nagar falls under the jurisdiction of the Ponneri Sub Registrar Office, located at 9/5, Taluk Office Road, Ponneri, Chennai-601204. To find your SRO, you can visit this link.

How the guideline value is used when you buy or sell in Thachoor_2

The guideline value plays a crucial role in the registration process when buying or selling property in Thachoor_2. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is registered, the guideline value is compared to the sale price, and the duty is calculated based on the higher of the two amounts. This ensures that the government receives appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Kandan Nagar?

The current guideline value of Kandan Nagar is Rs 800 per sq.ft, effective from 1 July 2024.

How much did the guideline value increase from 2023 to 2024?

The guideline value increased by 300% from Rs 200 per sq.ft in 2023 to Rs 800 per sq.ft in 2024.

What is the land classification of Kandan Nagar?

Kandan Nagar is classified as Residential Class I Type - I, indicating its suitability for residential development.

Where can I find the Ponneri Sub Registrar Office?

The Ponneri Sub Registrar Office is located at 9/5, Taluk Office Road, Ponneri, Chennai-601204.

How is the stamp duty calculated in Kandan Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For Kandan Nagar, the current guideline value is Rs 800 per sq.ft.