Guideline Value for KANNADASAN 2ND STREET (WARD -8)

Kannadasan 2nd Street (Ward -8) guideline value

The current guideline value of Kannadasan 2nd Street (Ward -8) is Rs 1,321 per sq.ft. 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 -8) has changed

The guideline value for Kannadasan 2nd Street has undergone several revisions over the years. The most recent revision in 2024 set the value at Rs 1,321 per sq.ft, which is an increase of 10% from the 2023 revision of Rs 1,200 per sq.ft. Prior to that, the 2017 revision recorded a value of Rs 804 per sq.ft, marking a significant increase of 49% from the previous 2012 revision, which was Rs 1,200 per sq.ft. The register has no figure for this street for the years 2002, 2003, and 2007.

From 2012 to 2017, there was a decrease of 33%, but overall, from 2012 to 2024, the guideline value has increased by 10%. This reflects the fluctuations in the property values for this street over the years.

Guideline values in Ninna Karai

Ninna Karai has a total of 449 streets under the Chengleput Joint II SRO, with 2024 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, and the value for Kannadasan 2nd Street (Ward -8) is above this median.

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

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 and the sale price. You can use the stamp duty and registration fee calculator for precise calculations.

Which Sub Registrar Office covers Kannadasan 2nd Street (Ward -8)?

The Sub Registrar Office that covers Kannadasan 2nd Street (Ward -8) 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 during the registration of property transactions in Ninna Karai. It serves as a benchmark for calculating the stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property sales.

When a property is bought or sold, the guideline value helps determine the minimum price at which the property can be registered. This value is essential for both buyers and sellers to understand their financial obligations during the transaction process.

Frequently asked questions

What is the current guideline value of Kannadasan 2nd Street (Ward -8)?

The current guideline value of Kannadasan 2nd Street (Ward -8) 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 changed several times, with the most recent increase being 10% from Rs 1,200 per sq.ft in 2023 to Rs 1,321 per sq.ft in 2024. 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 -8)?

The land classification for Kannadasan 2nd Street (Ward -8) is Residential Special Type - V, indicating its designation for residential use.

Where can I find the Sub Registrar Office for this area?

The Sub Registrar Office covering Kannadasan 2nd Street (Ward -8) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the guideline value of Rs 1,321 per sq.ft would incur a total fee of Rs 1,18,890.