Guideline Value for KANDHASAMY NAGAR 1ST STREET

Kandhasamy Nagar 1st Street guideline value

The current guideline value of Kandhasamy Nagar 1st Street is Rs 1,660 per sq.ft, effective from 1 July 2024. This street is located in Vanagaram village and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Class III Type - I.

How the guideline value of Kandhasamy Nagar 1st Street has changed

The guideline value for Kandhasamy Nagar 1st Street has seen several revisions over the years. The 2012 revision set the value at Rs 1,500 per sq.ft, which was then reduced to Rs 1,005 per sq.ft in the 2017 revision. The 2023 revision increased the value to Rs 1,500 per sq.ft, followed by the current 2024 revision, which further raised it to Rs 1,660 per sq.ft.

From 2012 to 2017, the guideline value decreased by 33%. However, from 2017 to 2023, there was a significant increase of 49%. The overall change from 2012 to 2024 shows an increase of 11%. It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

Guideline values in Vanagaram

In Vanagaram, there are 287 streets under the Chennai South Joint I SRO that carry a guideline value for 2024, ranging from Rs 770 to Rs 5,500 per sq.ft. The median value is Rs 1,660 per sq.ft, which is equal to the current guideline value of Kandhasamy Nagar 1st Street.

• Kandhasamy Nagar 1st Cross Street: Rs 1,660 per sq.ft (2024)
• Kandhasamy Nagar 2nd Cross Street: Rs 1,660 per sq.ft (2024)
• Kandhasamy Nagar: Rs 1,660 per sq.ft (2024)
• Kandhasamy Nagar 2nd Street: Rs 1,660 per sq.ft (2024)
• Kandhasamy Nagar 3rd Street: Rs 1,660 per sq.ft (2024)
• Kandhasamy Nagar 4th Street: Rs 1,660 per sq.ft (2024)

Stamp duty and registration fee for property in Kandhasamy Nagar 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,660 per sq.ft, the total guideline value amounts to Rs 16,60,000. The stamp duty at 7% would be Rs 1,16,200, and the registration fee at 2% would be Rs 33,200, bringing the total to Rs 1,49,400. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kandhasamy Nagar 1st Street?

The Sub Registrar Office that covers Kandhasamy Nagar 1st Street is 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. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Vanagaram. It is used to determine the stamp duty and registration fees applicable during the sale or purchase of property.

When a property is sold or bought, the guideline value is considered to ensure that the transaction is registered at a fair value. This helps in maintaining transparency and accountability in property dealings.

Frequently asked questions

What is the current guideline value of Kandhasamy Nagar 1st Street?

The current guideline value of Kandhasamy Nagar 1st Street is Rs 1,660 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, then back to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,660 per sq.ft in 2024.

What is the land classification of Kandhasamy Nagar 1st Street?

Kandhasamy Nagar 1st Street is classified as Residential Class III Type - I.

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

For a property valued at Rs 16,60,000, the stamp duty would be Rs 1,16,200 and the registration fee would be Rs 33,200, totaling Rs 1,49,400.

Where can I find the Sub Registrar Office for this area?

The Sub Registrar Office for Kandhasamy Nagar 1st Street is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.