Guideline Value for KANDASAMI NAGAR 7TH STREET

Kandasami Nagar 7th Street guideline value

The current guideline value of Kandasami Nagar 7th 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 7th Street has changed

The guideline value for Kandasami Nagar 7th Street has seen several revisions over the years. In 2002, the guideline value was Rs 345 per sq.ft, which increased to Rs 386 per sq.ft in 2003. The value then rose significantly to Rs 1,094 per sq.ft in 2007, followed by a 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. The most recent revision in 2024 has set the guideline value at Rs 4,400 per sq.ft.

Overall, the changes between the revisions indicate a substantial increase in value. From 2002 to 2024, the guideline value has risen by 1,175%. The change from 2023 to 2024 is a notable increase of 10%, while the rise from 2017 to 2023 reflects a significant increase of 49%.

Guideline values in Palavakkam

In Palavakkam, there are 349 streets under the Neelankarai SRO, with guideline values 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 7th Street's 2024 figure above this median.

• Kandasami Nagar 6th Street: Rs 4,400 per sq.ft (2024)
• Kandasami Nagar 8th Street: Rs 4,400 per sq.ft (2024)
• Kandasami Nagar 5th Street: Rs 4,400 per sq.ft (2024)
• Kandasami Nagar 9th Street: Rs 4,400 per sq.ft (2024)
• Kandasami Nagar 4th Street: Rs 4,400 per sq.ft (2024)
• Kandasami Nagar 3rd Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Kandasami Nagar 7th 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, charged at 7%, would amount to Rs 3,08,000, while the registration fee at 2% would be Rs 88,000. The total cost for stamp duty and registration fees together would be Rs 3,96,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kandasami Nagar 7th Street?

Kandasami Nagar 7th 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 is a critical factor in the registration process when buying or selling property in Palavakkam. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is registered, the guideline value is used to calculate the fees, ensuring that the transaction is documented at an official value, which is important for legal and taxation purposes.

Frequently asked questions

What is the current guideline value of Kandasami Nagar 7th Street?

The current guideline value of Kandasami Nagar 7th 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, reflecting an overall increase of 1,175% over the years.

What are the stamp duty and registration fees for property in Kandasami Nagar 7th Street?

The stamp duty is calculated at 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total stamp duty and registration fees would be Rs 3,96,000.

Which office handles the registration for Kandasami Nagar 7th Street?

The Neelankarai Sub Registrar Office handles the registration for Kandasami Nagar 7th Street, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai.

What is the median guideline value in Palavakkam?

The median guideline value in Palavakkam is Rs 3,300 per sq.ft, with Kandasami Nagar 7th Street's 2024 figure being above this median.