Guideline Value for KANDASAMI NAGAR 9TH STREET

Kandasami Nagar 9th Street guideline value

The current guideline value of Kandasami Nagar 9th Street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Palavakkam village and falls under the Neelankarai SRO. The land classification for this area is Residential Class I Type - II.

How the guideline value of Kandasami Nagar 9th Street has changed

The guideline value for Kandasami Nagar 9th Street has undergone several revisions over the years. Starting from Rs 345 per sq.ft in 2002, it increased to Rs 386 per sq.ft in 2003. The value saw a significant rise to Rs 1,094 per sq.ft in 2007, followed by a drop to Rs 4,000 per sq.ft in 2012. In 2017, it was revised to Rs 2,680 per sq.ft, and then it increased to Rs 4,000 per sq.ft in 2023. The most recent revision in 2024 set the value at Rs 4,400 per sq.ft.

Between the revisions, there were notable changes. From 2002 to 2003, the increase was +12%. The value rose dramatically by +183% from 2003 to 2007. There was a significant increase of +266% from 2007 to 2012, but then a decrease of -33% occurred from 2012 to 2017. The value increased by +49% from 2017 to 2023, and the latest revision from 2023 to 2024 saw an increase of +10%. Overall, from 2002 to 2024, the guideline value has increased by +1175%.

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, with a median value of Rs 3,300 per sq.ft. Kandasami Nagar 9th Street's guideline value is above this median.

• Kandasami Nagar 8th Street: Rs 4,400 per sq.ft (2024)
• Kandasami Nagar 7th Street: Rs 4,400 per sq.ft (2024)
• Kandasami Nagar 6th Street: Rs 4,400 per sq.ft (2024)
• Kandasami Nagar 5th 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 9th 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, and the registration fee at 2% would be Rs 88,000, bringing the total fees to 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.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Kandasami Nagar 9th Street?

The Kandasami Nagar 9th Street is covered by 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 crucial factor during the registration of property transactions in Palavakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring compliance with local regulations.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees. This ensures that both parties are aware of the financial obligations associated with the transaction, based on the established guideline value.

Frequently asked questions

What is the current guideline value of Kandasami Nagar 9th Street?

The current guideline value of Kandasami Nagar 9th 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 seen multiple revisions, increasing from Rs 345 per sq.ft in 2002 to Rs 4,400 per sq.ft in 2024, marking an overall increase of +1175% over this period.

What are the stamp duty and registration fees for property in Kandasami Nagar 9th Street?

For a 1,000 sq.ft plot, the total guideline value is 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.

Which Sub Registrar Office covers Kandasami Nagar 9th Street?

The Neelankarai Sub Registrar Office covers Kandasami Nagar 9th Street, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

What is the land classification for Kandasami Nagar 9th Street?

The land classification for Kandasami Nagar 9th Street is Residential Class I Type - II, indicating its suitability for residential development.