Guideline Value

Corporate

Guideline Value for KANDASAMI NAGAR 1ST STREET

₹4400/sq.ft.

The guideline value for Kandasami Nagar 1st Street in Palavakkam village (Neelankarai SRO, Chennai zone) is Rs 4400 per sq.ft, effective 1 July 2024. It was Rs 4000 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Class I Type - Ii. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Palavakkam

Village

Neelankarai

SRO

Residential Class I Type - II
History
Period Guideline Value
From 1-7-2024 ₹4400 /sq.ft.
From 1-4-2023 ₹4000 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹2680 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹4000 /sq.ft.
From 1-8-2007 To 31-3-2012 ₹1094 /sq.ft.
From 1-4-2003 To 31-7-2007 ₹386 /sq.ft.
From 1-4-2002 To 31-3-2003 ₹345 /sq.ft.
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41
044-24490134
[email protected]

DRO (District Registrar Office)

Integrated Building For Offices Of The Commercial Taxes And Registration Department, Fanepet, Nandhanam, Chennai - 35.
044-22505552
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on Kandasami Nagar 1st Street

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Kandasami Nagar 1st Street guideline value

The current guideline value of Kandasami Nagar 1st Street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Palavakkam village under the Neelankarai SRO, classified as Residential Class I Type - II.

How the guideline value of Kandasami Nagar 1st Street has changed

Since the earliest record in 2002, the guideline value for Kandasami Nagar 1st Street has seen significant changes. In 2002, the value was Rs 345 per sq.ft, which increased to Rs 386 per sq.ft in 2003. The value then rose to Rs 1,094 per sq.ft in 2007, followed by a substantial jump to Rs 4,000 per sq.ft in 2012. However, it decreased to Rs 2,680 per sq.ft in 2017 before increasing again to Rs 4,000 per sq.ft in 2023, and finally reaching Rs 4,400 per sq.ft in 2024.

The changes between the revisions are notable. From 2002 to 2024, there has been an overall increase of 1,175%. The most significant jump occurred between 2007 and 2012, with an increase of 266%, while the most recent change from 2023 to 2024 saw an increase of 10%.

Guideline values in Palavakkam

In Palavakkam, there are 349 streets under the Neelankarai SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 8,800 per sq.ft. The median value for these streets is Rs 3,300 per sq.ft, placing Kandasami Nagar 1st Street above this median.

Stamp duty and registration fee for property in Kandasami Nagar 1st Street

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

Which Sub Registrar Office covers Kandasami Nagar 1st Street?

The Kandasami Nagar 1st Street falls under the Neelankarai Sub Registrar Office located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Palavakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring transparency and fairness in property transactions.

When a property is sold, the buyer is required to pay stamp duty and registration fees based on the higher of the guideline value or the sale price. This ensures that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Kandasami Nagar 1st Street?

The current guideline value of Kandasami Nagar 1st Street 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 changed significantly from Rs 345 per sq.ft in 2002 to Rs 4,400 per sq.ft in 2024, marking an overall increase of 1,175% over the years.

What is the stamp duty rate for properties in Kandasami Nagar 1st Street?

The stamp duty rate for properties in Kandasami Nagar 1st Street is 7% of the guideline value or the sale price, whichever is higher.

Where is the Neelankarai Sub Registrar Office located?

The Neelankarai Sub Registrar Office is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

What is the median guideline value for streets in Palavakkam?

The median guideline value for streets in Palavakkam is Rs 3,300 per sq.ft, with Kandasami Nagar 1st Street being above this median at Rs 4,400 per sq.ft.