Guideline Value for KANNADASAN STREET

Kannadasan Street guideline value

The current guideline value of Kannadasan Street in Ekkaduthangal village is Rs 3,080 per sq.ft, effective from 1 July 2024. This street falls under the Chennai South Joint I SRO and is classified as Residential Class IV Type - I.

How the guideline value of Kannadasan Street has changed

The guideline value for Kannadasan Street has undergone several revisions over the years. In 2002, the value was Rs 350 per sq.ft, which rose to Rs 404 per sq.ft in 2003. The value saw a significant increase to Rs 1,000 per sq.ft in 2007, followed by a jump to Rs 2,800 per sq.ft in 2012. However, it then decreased to Rs 1,876 per sq.ft in 2017. The value increased again to Rs 2,800 per sq.ft in 2023 before reaching the current rate of Rs 3,080 per sq.ft in 2024.

From 2017 to 2023, the guideline value increased by 49%. The jump from 2012 to 2017 was a decrease of 33%, while the increase from 2007 to 2012 was a substantial 180%. Between 2003 and 2007, the value rose by 148%, and from 2002 to 2003, there was a 15% increase. Overall, from 2002 to 2024, the guideline value has increased by 780%. There are no figures available for revisions other than those mentioned.

Guideline values in Ekkaduthangal

In Ekkaduthangal, there are 190 streets under the Chennai South Joint I SRO, with guideline values ranging from Rs 3,080 to Rs 8,800 per sq.ft. The median value for these streets is Rs 4,620 per sq.ft, placing Kannadasan Street's 2024 figure below this median.

• Kannagi Street: Rs 3,520 per sq.ft (2024)
• Kannan Street: Rs 3,520 per sq.ft (2024)
• Kamatchiamman Koil Street: Rs 3,520 per sq.ft (2024)
• Karpa Vinayagar Koil Street: Rs 3,520 per sq.ft (2024)
• Karunai Street: Rs 3,080 per sq.ft (2024)
• Kasthuribai Gandhi Nagar: Rs 4,620 per sq.ft (2024)

Stamp duty and registration fee for property in Kannadasan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,080 per sq.ft, the total guideline value amounts to Rs 30,80,000. The stamp duty at 7% would be Rs 2,15,600, and the registration fee at 2% would be Rs 61,600, making the total cost for these fees Rs 2,77,200. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kannadasan Street?

The Sub Registrar Office that covers Kannadasan Street is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, fanepet Nandanam, Chennai -600 035, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Ekkaduthangal. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property being bought or sold.

When a property is sold, the buyer and seller must ensure that the sale price is at least equal to the guideline value to avoid any discrepancies during registration. This ensures that the transaction is in compliance with the regulations set by the Registration Department.

Frequently asked questions

What is the current guideline value of Kannadasan Street?

The current guideline value of Kannadasan Street is Rs 3,080 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, starting from Rs 350 per sq.ft in 2002 to the current Rs 3,080 per sq.ft in 2024, reflecting an overall increase of 780% since 2002.

What is the land classification for Kannadasan Street?

Kannadasan Street is classified as Residential Class IV Type - I under the Chennai South Joint I SRO.

Where can I find the Sub Registrar Office for Kannadasan Street?

The Sub Registrar Office for Kannadasan Street is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, fanepet Nandanam, Chennai -600 035.

How is the stamp duty calculated for properties in Kannadasan Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 30,80,000 would incur a stamp duty of Rs 2,15,600 at a rate of 7%.