Guideline Value for KANDASAMI NAGAR 2ND STREET

Kandasami Nagar 2nd Street guideline value

The current guideline value of Kandasami Nagar 2nd 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 2nd Street has changed

The guideline value for Kandasami Nagar 2nd Street has seen several revisions over the years. Starting from Rs 345 per sq.ft in 2002, it increased to Rs 386 per sq.ft in 2003, marking a change of +12%. The value then rose significantly to Rs 1,094 per sq.ft in 2007, an increase of +183%. Following this, the value continued to climb to Rs 4,000 per sq.ft in 2012, reflecting a rise of +266%. However, it dropped to Rs 2,680 per sq.ft in 2017, showing a decrease of -33%.

From 2017 to 2023, the guideline value increased sharply to Rs 4,000 per sq.ft, a change of +49%. The most recent revision saw the value rise to Rs 4,400 per sq.ft in 2024, an increase of +10%. There are no figures available for any other revisions for this street.

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 guideline value in this area is Rs 3,300 per sq.ft, placing Kandasami Nagar 2nd Street above that median.

• Kandasami Nagar 1st Street: Rs 4,400 per sq.ft (2024)
• Kandasami Nagar 3rd Street: Rs 4,400 per sq.ft (2024)
• Kandasami Nagar 1st Cross Street: Rs 4,400 per sq.ft (2024)
• Kandasami Nagar 4th Street: Rs 4,400 per sq.ft (2024)
• Kandasami Nagar 10th Street: Rs 4,400 per sq.ft (2024)
• Kandasami Nagar 5th Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Kandasami Nagar 2nd Street

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 at 7% would amount to Rs 3,08,000, while the registration fee at 2% would be Rs 88,000. Together, the total cost for these fees would be 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 also use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Kandasami Nagar 2nd Street?

The Kandasami Nagar 2nd 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. To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in the registration process when buying or selling property. It is used to determine the stamp duty and registration fees that must be paid during the transaction. Buyers should be aware that the guideline value is often a key factor in ensuring that the property is registered at a fair value.

When a property is sold, the guideline value is compared to the sale price, and the higher amount is used to calculate the applicable duties and fees. This ensures that the registration reflects the true value of the property in the eyes of the law.

Frequently asked questions

What is the current guideline value of Kandasami Nagar 2nd Street?

The current guideline value of Kandasami Nagar 2nd 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 from Rs 345 per sq.ft in 2002 to Rs 4,400 per sq.ft in 2024, showing a significant overall increase of +1175%.

What is the median guideline value in Palavakkam?

The median guideline value in Palavakkam is Rs 3,300 per sq.ft, which means Kandasami Nagar 2nd Street is above this median.

What are the stamp duty and registration fees for a property in Kandasami Nagar 2nd Street?

For a 1,000 sq.ft property at the current guideline value, the total stamp duty would be Rs 3,08,000 and the registration fee would be Rs 88,000, totaling Rs 3,96,000.

Which office handles the registration for Kandasami Nagar 2nd Street?

The Neelankarai Sub Registrar Office handles the registration for Kandasami Nagar 2nd Street, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.