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

Kannadasan 2nd Street (Ward -7) guideline value

The current guideline value of Kannadasan 2nd Street (Ward -7) is Rs 1,321 per sq.ft, effective from 1 July 2024. This street is located in Ninna Karai village and falls under the Chengleput Joint II SRO. The land classification for this area is Residential Special Type - V.

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

The guideline value for Kannadasan 2nd Street (Ward -7) has seen several revisions over the years. The most recent revision in 2024 set the guideline value at Rs 1,321 per sq.ft, which is a 10% increase from Rs 1,200 per sq.ft in the 2023 revision. Prior to that, the 2017 revision recorded a value of Rs 804 per sq.ft, marking a significant increase of 49% to the 2023 figure. The 2012 revision also had a value of Rs 1,200 per sq.ft, which was a decrease of 33% from the 2017 figure.

Looking further back, the register has no figures for the years 2002, 2003, and 2007 for this street. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%.

Guideline values in Ninna Karai

Ninna Karai village has a total of 449 streets under the Chengleput Joint II SRO, with guideline values ranging from Rs 440 to Rs 3,500 per sq.ft. The median guideline value in this village is Rs 1,100 per sq.ft, placing the 2024 figure for Kannadasan 2nd Street (Ward -7) above that median.

• Kannadasan 2nd Cross Street (Ward -7): Rs 1,321 per sq.ft (2024)
• Kannadasan 2nd Street (Ward -8): Rs 1,321 per sq.ft (2024)
• Kannadasan 1st Street (Ward -7): Rs 1,321 per sq.ft (2024)
• Kannadasan 3rd Street (Ward -8): Rs 1,321 per sq.ft (2024)
• Kannadasan 4th Street (Ward -7): Rs 1,321 per sq.ft (2024)
• Kannadasan Cross Street (Ward -8): Rs 1,321 per sq.ft (2024)

Stamp duty and registration fee for property in Kannadasan 2nd Street (Ward -7)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,321 per sq.ft, the total guideline value would be Rs 13,21,000. The stamp duty at 7% would amount to Rs 92,470, and the registration fee at 2% would be Rs 26,420, bringing the total fees together to Rs 1,18,890. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

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

The Sub Registrar Office covering Kannadasan 2nd 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. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Ninna Karai. It serves as a benchmark for determining the minimum value at which a property can be sold or purchased, ensuring that the registration reflects a fair value for taxation purposes.

When buyers and sellers agree on a sale price, the registration office will assess the guideline value to determine the applicable stamp duty and registration fees. This ensures that all property transactions are recorded accurately and transparently.

Frequently asked questions

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

The current guideline value of Kannadasan 2nd Street (Ward -7) is Rs 1,321 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has undergone several revisions, with the most recent being Rs 1,321 per sq.ft in 2024, 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 for Kannadasan 2nd Street (Ward -7)?

The land classification for Kannadasan 2nd Street (Ward -7) is Residential Special Type - V, indicating its designated use for residential purposes.

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. This office handles the registration of properties in the area.

How is stamp duty calculated for properties in Ninna Karai?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 13,21,000 would incur a stamp duty of Rs 92,470 at 7%.