Guideline Value for KANDASAMY NAGAR

Kandasamy Nagar guideline value

The current guideline value of Kandasamy Nagar, located in Karambakkam village, is Rs 1,930 per sq.ft, effective from 1 July 2024. This area falls under the Chennai South Joint I SRO and is classified as Residential Class III Type - I.

How the guideline value of Kandasamy Nagar has changed

The guideline value for Kandasamy Nagar has undergone several revisions over the years. In 2002, the guideline value was Rs 161 per sq.ft, which increased to Rs 185 per sq.ft in 2003. Following that, the value saw a significant rise to Rs 350 per sq.ft in 2007, marking an increase of 89%. The value then surged dramatically to Rs 1,750 per sq.ft in 2012, reflecting a 400% increase. However, it dropped to Rs 1,172 per sq.ft in 2017, showing a decrease of 33%. The value rose again to Rs 1,750 per sq.ft in 2023 and finally reached Rs 1,930 per sq.ft in 2024, which is a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 1,099%. The register has no figures for the years not mentioned in the provided data.

Guideline values in Karambakkam

In Karambakkam, there are 159 streets under the Chennai South Joint I SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 5,500 per sq.ft. The median value is Rs 1,930 per sq.ft, which is equal to the guideline value of Kandasamy Nagar.

• Kanthasami Nagar Kantha Kannan Street: Rs 1,930 per sq.ft (2024)
• Karambakkam 1st Cross Street: Rs 3,030 per sq.ft (2024)
• Karambakkam 1st Main Road: Rs 3,030 per sq.ft (2024)
• Karambakkam 1st Street: Rs 3,030 per sq.ft (2024)
• Karambakkam 2nd Cross Street: Rs 3,030 per sq.ft (2024)
• Karambakkam 4 Square Junction: Rs 3,030 per sq.ft (2024)

Stamp duty and registration fee for property in Kandasamy Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,930 per sq.ft, the total guideline value amounts to Rs 19,30,000. The stamp duty at 7% would be Rs 1,35,100, and the registration fee at 2% would be Rs 38,600, making the total cost for these fees Rs 1,73,700. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Kandasamy Nagar?

Kandasamy Nagar is covered by the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Karambakkam. It serves as a benchmark for determining the minimum value at which property transactions can be registered. The guideline value helps in calculating the stamp duty and registration fees applicable to the transaction.

When a property is sold, the sale price must be compared to the guideline value. The higher of the two will be used to calculate the stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Kandasamy Nagar?

The current guideline value of Kandasamy Nagar is Rs 1,930 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 161 per sq.ft in 2002 to Rs 1,930 per sq.ft in 2024, reflecting an overall increase of 1,099% over the years.

What are the stamp duty and registration fees for property in Kandasamy Nagar?

For a 1,000 sq.ft plot, the total guideline value is Rs 19,30,000, with stamp duty at 7% amounting to Rs 1,35,100 and a registration fee at 2% totaling Rs 38,600. The combined fees would be Rs 1,73,700.

Which Sub Registrar Office covers Kandasamy Nagar?

Kandasamy Nagar is covered by the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.

What is the land classification of Kandasamy Nagar?

Kandasamy Nagar is classified as Residential Class III Type - I, indicating its suitability for residential development.