Guideline Value for KANNADASAN 3RD STREET (WARD -8)

Kannadasan 3rd Street (Ward -8) guideline value

The current guideline value of Kannadasan 3rd Street (Ward -8) is Rs 1,321 per sq.ft, effective from 1 July 2024. 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 3rd Street (Ward -8) has changed

The guideline value for Kannadasan 3rd Street has undergone several revisions over the years. In 2012, the value was set at Rs 1,200 per sq.ft. This figure remained unchanged until the next revision in 2017, which saw a decrease to Rs 804 per sq.ft, marking a decline of 33%. The value then increased significantly to Rs 1,200 per sq.ft in 2023, followed by a further increase to Rs 1,321 per sq.ft in 2024, reflecting a rise of 10% from the previous year.

Overall, from 2012 to 2024, the guideline value has increased by 10%. The register does not have figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Ninna Karai

Ninna Karai village has a total of 449 streets under the Chengleput Joint II SRO that carry a 2024 guideline value, ranging from Rs 440 to Rs 3,500 per sq.ft. The median value for these streets is Rs 1,100 per sq.ft, placing Kannadasan 3rd Street's 2024 figure above this median.

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

Stamp duty and registration fee for property in Kannadasan 3rd 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 amounts to Rs 13,21,000. The stamp duty at 7% would be 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 or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kannadasan 3rd Street (Ward -8)?

The Sub Registrar Office covering Kannadasan 3rd 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 details.

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

The guideline value is an essential factor in the registration process for property transactions in Ninna Karai. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value helps in establishing a fair transaction price. It is crucial for both buyers and sellers to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Kannadasan 3rd Street (Ward -8)?

The current guideline value of Kannadasan 3rd 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 from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, then back to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,321 per sq.ft in 2024.

What is the land classification for Kannadasan 3rd Street?

The land classification for Kannadasan 3rd Street (Ward -8) is Residential Special Type - V.

What is the stamp duty for a property in Kannadasan 3rd Street?

The stamp duty for a property in Kannadasan 3rd Street is 7% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Kannadasan 3rd Street located?

The Sub Registrar Office for Kannadasan 3rd Street is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, under the Chenglepurt registration zone.