Guideline Value for KANDIGAI STREET

Kandigai Street guideline value

The current guideline value of Kandigai Street is Rs 2,900 per sq.ft, effective from 1 July 2024. This street is located in Korattur village, under the Villivakkam Sub Registrar Office (SRO). The land classification for this area is Residential Class II Type - II.

How the guideline value of Kandigai Street has changed

The guideline value for Kandigai Street has undergone several revisions over the years. Starting with the 2002 revision, the guideline value was Rs 77 per sq.ft. This figure saw a significant increase by the 2007 revision, rising to Rs 600 per sq.ft, which marked a change of +679%. The 2012 revision then adjusted the value to Rs 2,700 per sq.ft, reflecting a decrease of -33% from the previous figure. In 2017, the guideline value increased again to Rs 1,809 per sq.ft, which was a +49% change from 2012.

In the subsequent revisions, the 2023 guideline value was set at Rs 2,700 per sq.ft, and the most recent revision in 2024 raised it to Rs 2,900 per sq.ft, showing an increase of +7%. Overall, from 2002 to 2024, the guideline value has increased by +3,666%.

Guideline values in Korattur

In Korattur village, there are 617 streets under the Villivakkam SRO, with 2024 guideline values ranging from Rs 1,100 to Rs 8,200 per sq.ft. The median guideline value for these streets is Rs 2,500 per sq.ft, making the current value of Kandigai Street above that median.

• KANNAGI NAGAR 1st STREET: Rs 2,500 per sq.ft (2024)
• KANNAGI NAGAR 2nd STREET: Rs 2,500 per sq.ft (2024)
• KANNAGI NAGAR 3rd STREET: Rs 2,500 per sq.ft (2024)
• Kannagi Nagar 5th Street: Rs 2,500 per sq.ft (2024)
• Kannamma Nagar: Rs 1,600 per sq.ft (2024)
• Kammalar Street: Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in Kandigai Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,900 per sq.ft, the total guideline value amounts to Rs 29,00,000. The stamp duty at 7% would be Rs 2,03,000, and the registration fee at 2% would be Rs 58,000, together totaling Rs 2,61,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can also use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kandigai Street?

The Sub Registrar Office that covers Kandigai Street is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more information.

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

The guideline value is a critical factor in the registration process when buying or selling property in Korattur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value is used to calculate the duties, ensuring that the transaction is recorded accurately. Buyers and sellers should be aware of the guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Kandigai Street?

The current guideline value of Kandigai Street is Rs 2,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen significant changes, increasing from Rs 77 per sq.ft in 2002 to Rs 2,900 per sq.ft in 2024, which is an overall increase of +3,666%.

What is the land classification for Kandigai Street?

Kandigai Street is classified as Residential Class II Type - II, indicating its suitability for residential development.

What are the stamp duty and registration fees for property in Kandigai Street?

For a property valued at Rs 29,00,000, the stamp duty would be Rs 2,03,000 and the registration fee would be Rs 58,000, totaling Rs 2,61,000.

Which office handles registrations for Kandigai Street?

The Villivakkam Sub Registrar Office handles registrations for Kandigai Street, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.