Guideline Value for KANNADASAN 1ST STREET (WARD -7)

Kannadasan 1st Street (Ward -7) guideline value

The current guideline value of Kannadasan 1st Street (Ward -7) is Rs 1,320 per sq.ft, effective from 1 July 2024. This street is located in Panangottur village and falls under the Chengleput Joint II SRO, classified as Residential Special Type - V.

How the guideline value of Kannadasan 1st Street (Ward -7) has changed

The guideline value for Kannadasan 1st Street has seen several revisions over the years. In 2012, the value was set at Rs 1,200 per sq.ft, which then decreased to Rs 804 per sq.ft in 2017, marking a decline of 33%. However, from 2017 to 2023, the value increased significantly by 49%, reaching Rs 1,200 per sq.ft. The latest revision in 2024 has increased the guideline value to Rs 1,320 per sq.ft, reflecting a 10% rise from the previous year.

It is important to note that there are no figures available for this street in the revisions of 2002, 2003, and 2007. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Panangottur

In Panangottur, there are 419 streets under the Chengleput Joint II SRO with a 2024 guideline value ranging from Rs 440 to Rs 2,200 per sq.ft. The median value for these streets is Rs 990 per sq.ft, placing the 2024 guideline value of Kannadasan 1st Street above this median.

• Kannadasan 2nd Cross Street (Ward -7): Rs 1,320 per sq.ft (2024)
• Kannadasan 2nd Street (Ward -7): Rs 1,320 per sq.ft (2024)
• Kannadasan 2nd Street (Ward -8): Rs 1,320 per sq.ft (2024)
• Kannadasan 3rd Street (Ward -8): Rs 1,320 per sq.ft (2024)
• Kannadasan 4th Street (Ward -7): Rs 1,320 per sq.ft (2024)
• Kannadasan Cross Street (Ward -8): Rs 1,320 per sq.ft (2024)

Stamp duty and registration fee for property in Kannadasan 1st Street (Ward -7)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft, the total guideline value amounts to Rs 13,20,000. The stamp duty at 7% would be Rs 92,400, and the registration fee at 2% would be Rs 26,400, making the total fees Rs 1,18,800. It's important to note that duty is charged on the higher of the guideline value and the sale price.

For more information on calculating fees, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kannadasan 1st Street (Ward -7)?

The Sub Registrar Office that covers Kannadasan 1st Street (Ward -7) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor in property transactions in Panangottur. It serves as the minimum value for registration purposes, ensuring that properties are registered at a value that reflects the prevailing rates in the area. Buyers and sellers must consider this value when determining the sale price of a property.

During the registration process, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that all transactions are conducted fairly and transparently, in accordance with the established regulations.

Frequently asked questions

What is the current guideline value of Kannadasan 1st Street (Ward -7)?

The current guideline value of Kannadasan 1st Street (Ward -7) is Rs 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2012, the guideline value has fluctuated, starting at Rs 1,200 per sq.ft, decreasing to Rs 804 per sq.ft in 2017, and then rising to Rs 1,200 per sq.ft in 2023. The latest revision in 2024 has increased it to Rs 1,320 per sq.ft.

What is the land classification for Kannadasan 1st Street?

Kannadasan 1st Street is classified as Residential Special Type - V, indicating its designated use for residential purposes within the area.

Where can I find the Chengleput Joint II SRO?

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone.

How are stamp duty and registration fees calculated?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher, while the registration fee is charged at 2% of the same. For example, for a 1,000 sq.ft plot, the total fees would amount to Rs 1,18,800.