Guideline Value for KANNADASAN 4TH STREET (WARD -7)

Kannadasan 4th Street (Ward -7) guideline value

The current guideline value of Kannadasan 4th Street (Ward -7) is Rs 1,320 per sq.ft, effective from 1 July 2024. This street is located in Sattamangalam village under the Chengleput Joint II SRO and is classified as Residential Special Type - V.

How the guideline value of Kannadasan 4th Street (Ward -7) has changed

The guideline value for Kannadasan 4th Street has seen several revisions over the years. The 2012 revision set the value at Rs 1,200 per sq.ft, which decreased to Rs 804 per sq.ft in 2017. Following this, the value increased significantly to Rs 1,200 per sq.ft in 2023, and then to Rs 1,320 per sq.ft in 2024, marking a 10% increase from the previous year.

From 2012 to 2017, the value decreased by 33%, but from 2017 to 2023, it rose by 49%. Overall, the guideline value from 2012 to 2024 has increased by 10%. The register does not have figures for the years 2002, 2003, and 2007 for this street.

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. The median guideline value is Rs 1,100 per sq.ft, placing Kannadasan 4th Street's 2024 figure above this median.

• Kannadasan 3rd Street (Ward -8): Rs 1,320 per sq.ft (2024)
• Kannadasan Cross Street (Ward -8): Rs 1,320 per sq.ft (2024)
• Kannadasan 2nd Street (Ward -8): Rs 1,320 per sq.ft (2024)
• Kannadasan 2nd Street (Ward -7): Rs 1,320 per sq.ft (2024)
• Kannadasan Street, 3rd Lane (Ward -7): Rs 1,320 per sq.ft (2024)
• Kannadasan 2nd Cross Street (Ward -7): Rs 1,320 per sq.ft (2024)

Stamp duty and registration fee for property in Kannadasan 4th Street (Ward -7)

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 to Rs 1,18,800. 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 information.

Which Sub Registrar Office covers Kannadasan 4th Street (Ward -7)?

Kannadasan 4th Street (Ward -7) falls under 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 further assistance.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Sattamangalam. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is sold, the guideline value ensures that the transaction is registered at a fair value, which helps in maintaining transparency in property dealings. Buyers and sellers should be aware of the current guideline value to understand their financial obligations during registration.

Frequently asked questions

What is the current guideline value of Kannadasan 4th Street (Ward -7)?

The current guideline value of Kannadasan 4th Street (Ward -7) 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 significantly, with the most recent increase being from Rs 1,200 per sq.ft in 2023 to Rs 1,320 per sq.ft in 2024, a 10% increase. Overall, from 2012 to 2024, the increase is 10%.

What is the land classification for Kannadasan 4th Street?

Kannadasan 4th Street is classified as Residential Special Type - V, indicating its designated use for residential purposes.

Where can I find the Chengleput Joint II SRO?

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002. This office handles the registration of properties in the area.

How is stamp duty calculated for properties in Kannadasan 4th Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 13,20,000, the stamp duty would be calculated at 7% of this amount.