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 1,320 per sq.ft, effective from 1 July 2024. This street is located in Sattamangalam village and falls under the Chengleput Joint II SRO, classified as 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 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. The 2023 revision brought the value back up to Rs 1,200 per sq.ft, and the most recent 2024 revision has increased it to Rs 1,320 per sq.ft, marking a 10% increase from the previous year.

From the 2017 revision to the 2023 revision, there was a significant increase of 49%. Overall, comparing the 2012 revision to the 2024 revision, 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 Sattamangalam

In Sattamangalam, there are 425 streets under the Chengleput Joint II SRO, with 2024 guideline values ranging from Rs 440 to Rs 2,200 per sq.ft. The median value is Rs 1,100 per sq.ft, making the guideline value of Kannadasan 2nd Street (Ward -7) above this median.

• Kannadasan 2nd Cross Street (Ward -7): Rs 1,320 per sq.ft (2024)
• Kannadasan 2nd Street (Ward -8): Rs 1,320 per sq.ft (2024)
• Kannadasan 1st Street (Ward -7): 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 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 would be 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 a total of Rs 1,18,800. Duty is charged on the higher of the guideline value and the sale price.

You can use the stamp duty and registration fee calculator for more information.

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

The Sub Registrar Office that covers Kannadasan 2nd 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 Sattamangalam

The guideline value is essential when registering a property in Sattamangalam, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value for calculating stamp duty and registration fees during the transaction process.

When a property is sold, the guideline value serves as a reference point for the transaction. It ensures that the property is not undervalued, which can affect the taxes and fees associated with the sale.

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 1,320 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 2023 to Rs 1,320 per sq.ft in 2024, marking a 10% increase. It was Rs 804 per sq.ft in 2017, which indicates a 49% increase from that year to 2023.

What is the land classification of Kannadasan 2nd Street (Ward -7)?

Kannadasan 2nd Street (Ward -7) is classified as Residential Special Type - V under the Chengleput Joint II SRO.

Where is the Chengleput Joint II Sub Registrar Office located?

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

How is stamp duty calculated for properties in Kannadasan 2nd Street (Ward -7)?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 13,20,000, the stamp duty would be Rs 92,400 at a rate of 7%.