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 Peramanoor village, under the Chengleput Joint II SRO, and is classified as Residential Special Type - V.

How the guideline value of Kannadasan 2nd Street (Ward -8) has changed

The guideline value for Kannadasan 2nd Street has seen several revisions over the years. The most recent revision in 2024 set the value at Rs 1,320 per sq.ft, 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% when compared to the 2023 figure. The 2012 revision also recorded a value of Rs 1,200 per sq.ft, which was a decrease of 33% from the 2017 figure. Overall, from 2012 to 2024, there has been a 10% increase in the guideline value.

It is important to note that there are no figures available for the revisions in the years 2002, 2003, and 2007 for this street. This lack of data means that the changes in guideline value during those years cannot be assessed.

Guideline values in Peramanoor

In Peramanoor, there are 430 streets under the Chengleput Joint II SRO that carry a 2024 guideline value, ranging from Rs 550 to Rs 2,200 per sq.ft. The median value for these streets is Rs 1,100 per sq.ft, indicating that the guideline value for Kannadasan 2nd Street (Ward -8) is above this 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 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 amount to Rs 92,400, and the registration fee at 2% would be Rs 26,400, bringing the total charges to Rs 1,18,800. 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 more specific 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 Peramanoor

The guideline value is a critical factor in the registration process for property transactions in Peramanoor. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps in assessing the transaction's legitimacy and fairness. It is essential for both buyers and sellers to be aware of the current guideline value to avoid discrepancies during the registration 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 1,320 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, reflecting various increases and decreases over the years.

What is the land classification of Kannadasan 2nd Street (Ward -8)?

Kannadasan 2nd Street (Ward -8) is classified as Residential Special Type - V, indicating its suitability for residential purposes.

What are the stamp duty and registration fees for properties on this street?

The stamp duty for a property valued at Rs 13,20,000 would be Rs 92,400, while the registration fee would be Rs 26,400, totaling Rs 1,18,800. These fees are based on the guideline value or the sale price, whichever is higher.

Which office handles registrations for Kannadasan 2nd Street (Ward -8)?

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