Guideline Value for KANNADASAN 2ND CROSS STREET (WARD -7)

Kannadasan 2nd Cross Street (Ward -7) guideline value

The current guideline value of Kannadasan 2nd Cross Street (Ward -7) is Rs 1,320 per sq.ft. This street is located in Panangottur village, under the Chengleput Joint II SRO, and is classified as Residential Special Type - V.

How the guideline value of Kannadasan 2nd Cross Street (Ward -7) has changed

The guideline value for Kannadasan 2nd Cross Street has undergone several revisions over the years. The 2012 revision set the value at Rs 1,200 per sq.ft, which remained unchanged until the 2017 revision, where it decreased to Rs 804 per sq.ft. In 2023, the value increased to Rs 1,200 per sq.ft, and the latest revision in 2024 has further increased it to Rs 1,320 per sq.ft, marking a 10% rise from the previous year.

In terms of percentage changes, the value increased by 49% from 2017 to 2023. However, from 2012 to 2017, there was a decrease of 33%. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Panangottur

In Panangottur, there are 419 streets under the Chengleput Joint II SRO, with guideline values ranging from Rs 440 to Rs 2,200 per sq.ft. The median guideline value in this area is Rs 990 per sq.ft, positioning the 2024 figure for Kannadasan 2nd Cross Street above this median.

• Kannadasan 1st 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 2nd Cross 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 charges Rs 1,18,800. Duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for precise calculations.

Which Sub Registrar Office covers Kannadasan 2nd Cross Street (Ward -7)?

The Sub Registrar Office that covers Kannadasan 2nd Cross 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 information.

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

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

When a property is registered, the guideline value is compared with the sale price, and the higher amount is used to calculate the applicable duties. This ensures that the transaction is fairly assessed based on the current market conditions as reflected in the guideline value.

Frequently asked questions

What is the current guideline value of Kannadasan 2nd Cross Street (Ward -7)?

The current guideline value of Kannadasan 2nd Cross 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 seen various changes, with the 2024 revision at Rs 1,320 per sq.ft, up from Rs 1,200 per sq.ft in 2023. The value was Rs 804 per sq.ft in 2017 and Rs 1,200 per sq.ft in 2012.

What is the land classification of Kannadasan 2nd Cross Street?

Kannadasan 2nd Cross Street is classified as Residential Special Type - V, indicating its designated use for residential purposes.

What are the stamp duty rates for property transactions?

The stamp duty for property transactions in this area is charged at 7% of the guideline value or sale price, whichever is higher. The registration fee is charged at 2% of the same amount.

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, in the Chengalpattu registration zone.