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 1,320 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 3rd Street (Ward -8) has changed

Looking back at the revisions, the guideline value for Kannadasan 3rd Street was Rs 1,200 per sq.ft in 2023, which increased to Rs 1,320 per sq.ft in 2024, marking a change of +10%. Prior to that, in 2017, the value was Rs 804 per sq.ft, reflecting a significant increase of +49% to reach 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.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for this street. Overall, from 2012 to 2024, the guideline value has changed by +10%.

Guideline values in Panangottur

In Panangottur village, there are 419 streets under the Chengleput Joint II SRO that have a 2024 guideline value ranging from Rs 440 to Rs 2,200 per sq.ft, with a median value of Rs 990 per sq.ft. The guideline value for Kannadasan 3rd Street is above this median.

• Kannadasan 2nd Street (Ward -8): Rs 1,320 per sq.ft (2024)
• Kannadasan 4th Street (Ward -7): Rs 1,320 per sq.ft (2024)
• Kannadasan 2nd Street (Ward -7): Rs 1,320 per sq.ft (2024)
• Kannadasan Cross Street (Ward -8): Rs 1,320 per sq.ft (2024)
• Kannadasan 2nd Cross Street (Ward -7): Rs 1,320 per sq.ft (2024)
• Kannadasan 1st Street (Ward -7): Rs 1,320 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 1,320 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, making the total cost for these fees 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 3rd Street (Ward -8)?

The Sub Registrar Office that covers Kannadasan 3rd 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 Panangottur

The guideline value is a crucial figure used during the registration of property transactions in Panangottur. It serves as a benchmark for calculating the stamp duty and registration fees, ensuring that both buyers and sellers are aware of the official value assigned to the property.

When a property is bought or sold, the guideline value helps determine the financial obligations involved in the transaction. It is essential for both parties to understand this value, as it directly affects the overall costs associated with the registration process.

Frequently asked questions

What is the current guideline value of Kannadasan 3rd Street?

The current guideline value of Kannadasan 3rd 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. Prior to that, it was Rs 804 per sq.ft in 2017, and Rs 1,200 per sq.ft in 2012.

What are the stamp duty and registration fees for properties in this area?

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

Which office handles property registrations for Kannadasan 3rd Street?

The Chengleput Joint II Sub Registrar Office handles property registrations for Kannadasan 3rd Street (Ward -8). The office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002.

What is the land classification for Kannadasan 3rd Street?

The land classification for Kannadasan 3rd Street (Ward -8) is Residential Special Type - V, indicating its designated use for residential purposes.