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 1,320 per sq.ft, effective from 1 July 2024. This street is located in Panangottur 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

Over the years, the guideline value for Kannadasan 2nd Street (Ward -8) has seen several revisions. The 2012 revision set the value at Rs 1,200 per sq.ft, which was a decrease of 33% from the 2017 revision of Rs 804 per sq.ft. In 2023, the guideline value increased to Rs 1,200 per sq.ft, and in the latest 2024 revision, it has risen to Rs 1,320 per sq.ft, reflecting a 10% increase from the previous year.

From 2017 to 2023, the value increased significantly by 49%. Overall, comparing the 2012 and 2024 revisions, there has been a 10% increase in the guideline value. 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 that carry a 2024 guideline value ranging from Rs 440 to Rs 2,200 per sq.ft. The median guideline value in this village is Rs 990 per sq.ft, making the 2024 figure for Kannadasan 2nd Street (Ward -8) above the median.

• Kannadasan 2nd Street (Ward -7): Rs 1,320 per sq.ft (2024)
• Kannadasan 3rd Street (Ward -8): Rs 1,320 per sq.ft (2024)
• Kannadasan 2nd Cross Street (Ward -7): Rs 1,320 per sq.ft (2024)
• Kannadasan 4th Street (Ward -7): Rs 1,320 per sq.ft (2024)
• Kannadasan 1st 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 -8)

For a 1,000 sq.ft plot at the current rate of Rs 1,320 per sq.ft, the 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, bringing the total to Rs 1,18,800. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

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, Chengalpattu registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor during the registration process when buying or selling property in Panangottur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid, ensuring that the transaction is recorded accurately in the official registers.

When a property is sold, the buyer must pay the stamp duty based on the higher of the guideline value or the sale price. This ensures that the government receives the appropriate revenue from property transactions, reflecting the value of the property as determined by the guideline values set by the registration department.

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 1,320 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, a 10% increase. It was Rs 804 per sq.ft in 2017 and Rs 1,200 per sq.ft in 2012, showing a significant increase over the years.

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. This classification indicates the type of development and usage permitted in this area.

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, Chengalpattu registration zone. This office handles the registration of properties in this area.

How is stamp duty calculated for properties in Kannadasan 2nd Street (Ward -8)?

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 7%.