Guideline Value

Corporate

Guideline Value for KANDASAMI NAGAR 8TH STREET

₹4400/sq.ft.

The guideline value for Kandasami Nagar 8th 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 8th Street

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Kandasami Nagar 8th Street guideline value

The current guideline value of Kandasami Nagar 8th Street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Palavakkam village, under the Neelankarai SRO, and is classified as Residential Class I Type - II.

How the guideline value of Kandasami Nagar 8th Street has changed

Over the years, the guideline value of Kandasami Nagar 8th Street has seen significant changes. In the 2002 revision, the value was Rs 345 per sq.ft. This increased to Rs 386 per sq.ft in 2003, marking a change of +12%. The value then rose dramatically to Rs 1,094 per sq.ft in 2007, which is an increase of +183%. The 2012 revision saw the value at Rs 4,000 per sq.ft, reflecting a substantial increase of +266% from 2007. However, in the 2017 revision, the value dropped to Rs 2,680 per sq.ft, indicating a decrease of -33%. The 2023 revision brought the value back up to Rs 4,000 per sq.ft, and the latest 2024 revision has set the current value at Rs 4,400 per sq.ft, a change of +10% from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by +1175%. The register has no figures for the years not listed above.

Guideline values in Palavakkam

In Palavakkam, there are 349 streets under the Neelankarai SRO with 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 8th Street above this median.

Stamp duty and registration fee for property in Kandasami Nagar 8th Street

For a 1,000 sq.ft plot at the current rate of Rs 4,400 per sq.ft, the guideline value would be 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, totaling Rs 3,96,000. Duty is charged on the guideline value or the sale price, whichever is higher. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kandasami Nagar 8th Street?

The Sub Registrar Office that covers Kandasami Nagar 8th Street is 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 an essential factor in property transactions in Palavakkam. It determines the minimum value at which properties are registered, ensuring that the government receives appropriate revenue from stamp duty and registration fees. Buyers and sellers must consider this value when negotiating sale prices to ensure compliance with legal requirements.

When a property is sold, the guideline value is used to calculate the applicable stamp duty and registration fees. This value is crucial for both buyers and sellers as it directly impacts the overall cost of the transaction, making it vital to understand the current rates in the area.

Frequently asked questions

What is the current guideline value of Kandasami Nagar 8th Street?

The current guideline value of Kandasami Nagar 8th 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, reflecting an overall increase of +1175% over the years.

What is the classification of land in Kandasami Nagar 8th Street?

Kandasami Nagar 8th Street is classified as Residential Class I Type - II under the Neelankarai SRO.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 44,00,000, the stamp duty would be Rs 3,08,000 and the registration fee would be Rs 88,000, totaling Rs 3,96,000.

Where can I find the Sub Registrar Office for Kandasami Nagar 8th Street?

The Neelankarai Sub Registrar Office covers Kandasami Nagar 8th Street and is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.