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 Sattamangalam 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 (Ward -8) has undergone several revisions over the years. In 2012, the value was Rs 1,200 per sq.ft, which then decreased to Rs 804 per sq.ft in 2017, marking a decline of 33%. However, from 2017 to 2023, the value increased significantly to Rs 1,200 per sq.ft, followed by another increase to Rs 1,320 per sq.ft in the 2024 revision, reflecting a 10% rise.

There are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Sattamangalam

In Sattamangalam village, there are 425 streets under the Chengleput Joint II SRO that carry a 2024 guideline value ranging from Rs 440 to Rs 2,200 per sq.ft, with a median value of Rs 1,100 per sq.ft. 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, while the registration fee at 2% would be Rs 26,400, resulting in a total of Rs 1,18,800. Please note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

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. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Sattamangalam. It is used to determine the stamp duty and registration fees applicable during the registration of property transactions. Buyers and sellers must be aware of the guideline value to ensure compliance with local regulations.

When registering a property, the guideline value is considered as a baseline for calculating the applicable fees. This value is important for both buyers and sellers, as it influences the overall cost of the transaction.

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 2012 to Rs 804 per sq.ft in 2017, then increased to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,320 per sq.ft in 2024.

What are the other streets in Sattamangalam with similar guideline values?

Other streets in Sattamangalam with a guideline value of Rs 1,320 per sq.ft include Kannadasan 2nd Street (Ward -7), Kannadasan 3rd Street (Ward -8), Kannadasan 2nd Cross Street (Ward -7), Kannadasan 4th Street (Ward -7), Kannadasan 1st Street (Ward -7), and Kannadasan Cross Street (Ward -8).

What is the role of the Chengleput Joint II SRO?

The Chengleput Joint II SRO is responsible for maintaining the guideline value register and overseeing property registrations in the area, including Kannadasan 2nd Street (Ward -8).

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

Stamp duty for properties in Kannadasan 2nd Street (Ward -8) is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 13,20,000, the stamp duty would be Rs 92,400.