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 Sattamangalam village and falls under the Chengleput Joint II SRO, with a land classification of Residential Special Type - V.

How the guideline value of Kannadasan 3rd Street (Ward -8) has changed

In the 2012 revision, the guideline value was Rs 1,200 per sq.ft. This was followed by a decrease to Rs 804 per sq.ft in the 2017 revision, marking a decline of 33%. However, the value significantly increased to Rs 1,200 per sq.ft in the 2023 revision, and further rose to Rs 1,320 per sq.ft in the 2024 revision, reflecting a 10% increase. The register has no figures for the years 2002, 2003, and 2007.

From the 2017 revision to the 2023 revision, there was a notable increase of 49%. Overall, comparing the 2012 revision to the 2024 revision, the guideline value has increased by 10%.

Guideline values in Sattamangalam

In Sattamangalam, there are 425 streets under the Chengleput Joint II SRO with a guideline value for 2024 ranging from Rs 440 to Rs 2,200 per sq.ft. The median guideline value is Rs 1,100 per sq.ft, making the 2024 guideline value of Kannadasan 3rd Street (Ward -8) 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 rate of Rs 1,320 per sq.ft, the 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, totaling Rs 1,18,800. Duty is charged on the guideline value or the sale price, whichever is higher. You can use our 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, 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 Sattamangalam

The guideline value is a crucial factor during the registration of property transactions in Sattamangalam. It serves as a benchmark for calculating the stamp duty and registration fees, which are mandatory costs associated with property transfers.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair value, which is essential for legal and taxation purposes. It is important to be aware of the current guideline value to accurately estimate the total costs involved in a property transaction.

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 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several changes, 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 1,320 per sq.ft in 2024.

What is the land classification for Kannadasan 3rd Street?

Kannadasan 3rd Street is classified as Residential Special Type - V, which indicates its designation for residential purposes.

What are the stamp duty rates for property transactions?

The stamp duty for property transactions is charged at 7% of the guideline value or sale price, whichever is higher, along with a registration fee of 2%.

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

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, and it covers Kannadasan 3rd Street (Ward -8).