Guideline Value for KANNADHASAN NAGAR

Kannadhasan Nagar guideline value

The current guideline value of Kannadhasan Nagar is Rs 3,100 per sq.ft, effective from 1 July 2024. This area is part of Ramapuram village and falls under the Chennai South Joint II SRO, classified as Residential Class II Type - I.

How the guideline value of Kannadhasan Nagar has changed

The guideline value for Kannadhasan Nagar has seen significant changes over the years. In 2002, the guideline value was Rs 349 per sq.ft, which increased to Rs 432 per sq.ft in 2003. Following this, the value jumped to Rs 1,100 per sq.ft in 2007, then rose dramatically to Rs 2,800 per sq.ft in 2012. However, it decreased to Rs 1,876 per sq.ft in 2017. The value then increased to Rs 2,800 per sq.ft in 2023, and most recently, it has risen to Rs 3,100 per sq.ft in 2024.

Overall, the changes between the revisions show an increase of 788% from 2002 to 2024. The most notable increase was from 2007 to 2012, which saw a rise of 155%. However, the value decreased by 33% from 2012 to 2017. The most recent change from 2023 to 2024 reflects an increase of 11%.

Guideline values in Ramapuram

In Ramapuram, there are 394 streets under the Chennai South Joint II SRO that carry a 2024 guideline value ranging from Rs 1,950 to Rs 6,600 per sq.ft, with the median being Rs 3,100 per sq.ft. The guideline value for Kannadhasan Nagar is equal to this median.

• Kannadasan Street: Rs 3,100 per sq.ft (2024)
• Kannadasan Nagar 6st Street: Rs 3,100 per sq.ft (2024)
• Kannadasan Nagar 5st Street: Rs 3,100 per sq.ft (2024)
• Kannadasan Nagar 4st Street: Rs 3,100 per sq.ft (2024)
• Kannadasan Nagar 3st Street: Rs 3,100 per sq.ft (2024)
• Kannadasan Nagar 2st Street: Rs 3,100 per sq.ft (2024)

Stamp duty and registration fee for property in Kannadhasan Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 3,100 per sq.ft, the total guideline value amounts to Rs 31,00,000. The stamp duty at 7% would be Rs 2,17,000, and the registration fee at 2% would be Rs 62,000, totaling Rs 2,79,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kannadhasan Nagar?

The Sub Registrar Office covering Kannadhasan Nagar is the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Ramapuram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, it is essential to be aware of the guideline value, as it can influence the overall cost of the transaction. Buyers should ensure that the sale price is not below the guideline value to avoid any legal issues during registration.

Frequently asked questions

What is the current guideline value of Kannadhasan Nagar?

The current guideline value of Kannadhasan Nagar is Rs 3,100 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed significantly, with an overall increase of 788% from 2002 to 2024. The most notable increase was 155% from 2007 to 2012.

What is the land classification of Kannadhasan Nagar?

Kannadhasan Nagar is classified as Residential Class II Type - I.

What are the stamp duty rates for property transactions?

The stamp duty rate is 7% of the guideline value or the sale price, whichever is higher. Additionally, there is a registration fee of 2%.

Where can I find the Sub Registrar Office for Kannadhasan Nagar?

The Sub Registrar Office for Kannadhasan Nagar is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.