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 Peramanoor 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. The 2012 revision set the value at Rs 1,200 per sq.ft, which was then reduced to Rs 804 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 1,200 per sq.ft, and the latest 2024 revision has further increased it to Rs 1,320 per sq.ft, marking a 10% rise from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. The changes between the revisions are as follows: from 2017 to 2023, there was a significant increase of 49%, while the change from 2012 to 2017 was a decrease of 33%. The register has no figures for the years 2002, 2003, and 2007.

Guideline values in Peramanoor

In Peramanoor, there are 430 streets under the Chengleput Joint II SRO, with guideline values ranging from Rs 550 to Rs 2,200 per sq.ft. The median value is Rs 1,100 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, resulting in a total of Rs 1,18,800. Please note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for further calculations.

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, in the Chengalpattu registration zone. To find your nearest SRO, please visit find your SRO.

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

The guideline value is a critical factor in the registration process when buying or selling property in Peramanoor. It serves as a reference point for determining the stamp duty and registration fees applicable to the transaction.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue based on the property's value.

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?

The guideline value has changed from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, then back to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,320 per sq.ft in 2024.

What is the land classification for Kannadasan 1st Street?

Kannadasan 1st Street is classified as Residential Special Type - V under the Chengleput Joint II SRO.

Where can I find the Chengleput Joint II Sub Registrar Office?

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

How is the stamp duty calculated for properties in Peramanoor?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. The current rate is 7% for stamp duty and 2% for the registration fee.