Guideline Value for KANNADASAN CROSS STREET (WARD -8)

Kannadasan Cross Street (Ward -8) guideline value

The current guideline value of Kannadasan Cross Street (Ward -8) 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 the land classification is Residential Special Type - V.

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

The guideline value for Kannadasan Cross Street (Ward -8) has seen several revisions over the years. In 2012, the value was set at Rs 1,200 per sq.ft, which decreased to Rs 804 per sq.ft in 2017. However, from 2017 to 2023, there was a significant increase of 49%, bringing the value to Rs 1,200 per sq.ft. The most recent revision in 2024 has increased the guideline value to Rs 1,320 per sq.ft, reflecting a 10% rise from the previous year.

It is important to note that 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, 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 value for these streets is Rs 1,100 per sq.ft, which means that Kannadasan Cross Street (Ward -8) is above this median.

• Kannadasan 4th Street (Ward -7): Rs 1,320 per sq.ft (2024)
• Kannadasan Street, 3rd Lane (Ward -7): Rs 1,320 per sq.ft (2024)
• Kannadasan 3rd Street (Ward -8): Rs 1,320 per sq.ft (2024)
• Kannadasan 2nd Street (Ward -8): Rs 1,320 per sq.ft (2024)
• Kannadasan Street (Ward -8): Rs 1,320 per sq.ft (2024)
• Kannadasan 2nd Street (Ward -7): Rs 1,320 per sq.ft (2024)

Stamp duty and registration fee for property in Kannadasan Cross 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 amounts to Rs 13,20,000. The stamp duty at 7% would be 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. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

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

The Sub Registrar Office that covers Kannadasan Cross Street (Ward -8) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone. To find your SRO, visit find your SRO.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Sattamangalam. It determines the minimum value at which a property can be registered, ensuring that the transaction is documented accurately in accordance with government regulations.

When a property is sold, the guideline value is used to calculate the applicable stamp duty and registration fees. Buyers should be aware that these fees are based on the higher of the guideline value or the sale price, which ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

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

The current guideline value of Kannadasan Cross 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 is the land classification for Kannadasan Cross Street (Ward -8)?

Kannadasan Cross Street (Ward -8) is classified as Residential Special Type - V, which indicates its suitability for residential development.

Where can I find the Chengleput Joint II SRO?

The Chengleput Joint II SRO is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone.

How is stamp duty calculated for properties in Sattamangalam?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 13,20,000 would incur a stamp duty of Rs 92,400 at a rate of 7%.