Guideline Value for KANNADHASAN STREET (WARD -7)

Kannadhasan Street (Ward -7) guideline value

The current guideline value of Kannadhasan Street (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, classified as Residential Special Type - V.

How the guideline value of Kannadhasan Street (Ward -7) has changed

Over the years, the guideline value for Kannadhasan Street (Ward -7) has seen several revisions. The 2012 revision set the value at Rs 1,200 per sq.ft, which then dropped to Rs 804 per sq.ft in the 2017 revision, marking a decrease of 33%. The subsequent 2023 revision increased the value to Rs 1,200 per sq.ft, and the current 2024 revision has raised it to Rs 1,320 per sq.ft, reflecting a 10% increase from the previous year.

From the 2017 revision to 2023, the value rose significantly by 49%. Overall, comparing the 2012 revision to the 2024 revision, there has been a slight increase of 10%. The register does not provide figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Panangottur

In Panangottur, there are 419 streets under the Chengleput Joint II SRO, with guideline values ranging from Rs 440 to Rs 2,200 per sq.ft. The median guideline value in this area is Rs 990 per sq.ft, positioning Kannadhasan Street (Ward -7) above this median. Below are some other streets in Panangottur:

• Kannadhasan 4th Street (Ward -8): Rs 1,320 per sq.ft (2024)
• Kannadasan Street (Ward -8): Rs 1,320 per sq.ft (2024)
• Kannadasan Street, 3rd Lane (Ward -7): Rs 1,320 per sq.ft (2024)
• Kannagi Street (Ward -5): Rs 1,320 per sq.ft (2024)
• Kannadasan Cross Street (Ward -8): Rs 1,320 per sq.ft (2024)
• Kannadasan 4th Street (Ward -7): Rs 1,320 per sq.ft (2024)

Stamp duty and registration fee for property in Kannadhasan 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, while the registration fee at 2% would be Rs 26,400, bringing the total fees to Rs 1,18,800. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kannadhasan Street (Ward -7)?

The Sub Registrar Office covering Kannadhasan Street (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 details.

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

The guideline value plays a crucial role in property transactions in Panangottur, as it serves as a reference for determining the minimum value of the property for registration purposes. When buying or selling property, the guideline value helps ensure that the transaction is registered at a value that reflects the market standards.

During the registration process, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Kannadhasan Street (Ward -7)?

The current guideline value of Kannadhasan 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 from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, then back 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 Kannadhasan Street (Ward -7)?

Kannadhasan Street (Ward -7) is classified as Residential Special Type - V.

Where can I find the Sub Registrar Office for Kannadhasan Street (Ward -7)?

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

How are stamp duty and registration fees calculated for properties in Panangottur?

Stamp duty and registration fees are 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 and a registration fee of Rs 26,400.