Guideline Value for KANDASWAMY KOIL STREET

Kandaswamy Koil Street guideline value

The current guideline value of Kandaswamy Koil Street is Rs 6,000 per sq.ft, effective from 1 July 2024. This street is located in Purasaivakkam village, under the Purasaivakkam SRO, and is classified as Residential Class III Type - III.

How the guideline value of Kandaswamy Koil Street has changed

The guideline value for Kandaswamy Koil Street has seen significant changes over the years. In the 2007 revision, the value was Rs 1,100 per sq.ft, which increased to Rs 5,500 per sq.ft in 2012. However, there was a decrease to Rs 3,685 per sq.ft in the 2017 revision. Following this, the value rose sharply to Rs 5,500 per sq.ft in 2023, and currently stands at Rs 6,000 per sq.ft as of the 2024 revision, marking a 9% increase from the previous year.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 445%. The revisions for the years 2002 and 2003 do not have figures recorded for Kandaswamy Koil Street.

Guideline values in Purasaivakkam

In Purasaivakkam, there are 519 streets under the Purasaivakkam SRO that carry a 2024 guideline value, ranging from Rs 2,200 to Rs 18,100 per sq.ft. The median value for these streets is Rs 5,500 per sq.ft, placing Kandaswamy Koil Street's 2024 figure above that median.

• Kandappa Mudali High Road (A) Thana Street: Rs 9,900 per sq.ft (2024)
• Kandappa Gramani Street: Rs 4,900 per sq.ft (2024)
• Kandappa Achary Street: Rs 6,500 per sq.ft (2024)
• Kancheepuram Munuswamy Maistry Street: Rs 5,500 per sq.ft (2024)
• Kanagammal Lane: Rs 4,400 per sq.ft (2024)
• Kannappa Mudali Street: Rs 3,800 per sq.ft (2024)

Stamp duty and registration fee for property in Kandaswamy Koil Street

For a 1,000 sq.ft plot at the current guideline value of Rs 6,000 per sq.ft, the total guideline value amounts to Rs 60,00,000. The stamp duty at 7% would be Rs 4,20,000, and the registration fee at 2% would be Rs 1,20,000, totaling Rs 5,40,000. Please note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kandaswamy Koil Street?

Kandaswamy Koil Street falls under the jurisdiction of the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can find your SRO for more information.

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

The guideline value plays a crucial role during property transactions in Purasaivakkam. It is used to determine the stamp duty and registration fees payable at the time of property registration. Buyers and sellers must be aware of the current guideline value to ensure compliance with local regulations.

When a property is sold, the guideline value serves as a benchmark for calculating the applicable taxes. It is essential for both parties to agree on the sale price, which must be at least equal to or higher than the guideline value to avoid any legal issues during registration.

Frequently asked questions

What is the current guideline value of Kandaswamy Koil Street?

The current guideline value of Kandaswamy Koil Street is Rs 6,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, increasing from Rs 1,100 per sq.ft in 2007 to Rs 6,000 per sq.ft in 2024, marking an overall increase of 445%.

What is the median guideline value in Purasaivakkam?

The median guideline value in Purasaivakkam is Rs 5,500 per sq.ft, with Kandaswamy Koil Street's current value above this median.

What are the stamp duty rates for properties in Kandaswamy Koil Street?

The stamp duty rate for properties in Kandaswamy Koil Street is 7%, and the registration fee is 2% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Kandaswamy Koil Street?

The Sub Registrar Office covering Kandaswamy Koil Street is located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can find more details online.