Guideline Value for KANNADASAN STREET, 3RD LANE (WARD -7)

Kannadasan Street, 3rd Lane (Ward -7) guideline value

The current guideline value of Kannadasan Street, 3rd Lane (Ward -7) 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 Street, 3rd Lane (Ward -7) has changed

The guideline value for Kannadasan Street, 3rd Lane (Ward -7) has seen several revisions over the years. In 2012, the guideline value was Rs 1,200 per sq.ft. This value remained the same until 2017, when it decreased to Rs 804 per sq.ft, marking a drop of 33%. Following this, the value increased significantly to Rs 1,200 per sq.ft in 2023, and further rose to Rs 1,320 per sq.ft in 2024, reflecting a 10% increase.

From 2017 to 2023, the value increased by 49%. Overall, from the 2012 revision to the 2024 revision, there has been an increase of 10%. The revisions for the years 2002, 2003, and 2007 have no figures recorded for this street.

Guideline values in Panangottur

In Panangottur, there are 419 streets under the Chengleput Joint II SRO with a 2024 guideline value ranging from Rs 440 to Rs 2,200 per sq.ft. The median guideline value for these streets is Rs 990 per sq.ft, making the 2024 figure for Kannadasan Street, 3rd Lane (Ward -7) above this median.

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

Stamp duty and registration fee for property in Kannadasan Street, 3rd Lane (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 cost for these fees to Rs 1,18,800. It is important to note that the 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 detailed calculations.

Which Sub Registrar Office covers Kannadasan Street, 3rd Lane (Ward -7)?

The Sub Registrar Office that covers Kannadasan Street, 3rd Lane (Ward -7) 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 factor in the registration process when buying or selling property in Panangottur. It determines the amount of stamp duty and registration fees that need to be paid, which are calculated based on the guideline value or the sale price, whichever is higher.

When a property transaction takes place, the guideline value ensures that the property is valued fairly for taxation purposes. It is essential 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 Street, 3rd Lane (Ward -7)?

The current guideline value of Kannadasan Street, 3rd Lane (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 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 Street, 3rd Lane (Ward -7)?

The land classification for Kannadasan Street, 3rd Lane (Ward -7) is Residential Special Type - V.

Where can I find the Chengleput Joint II Sub Registrar Office?

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

How is stamp duty calculated in Panangottur?

Stamp duty in Panangottur is calculated based on the guideline value or the sale price, whichever is higher. The current rate is 7% for stamp duty and 2% for registration fees.