Guideline Value for KANTHASAMI NAGAR KANTHA KANNAN STREET

Kanthasami Nagar Kantha Kannan Street guideline value

The current guideline value of Kanthasami Nagar Kantha Kannan Street is Rs 1,930 per sq.ft, effective from 1 July 2024. This street is located in Karambakkam village and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Class III Type - I.

How the guideline value of Kanthasami Nagar Kantha Kannan Street has changed

Over the years, the guideline value for Kanthasami Nagar Kantha Kannan Street has seen several revisions. The 2012 revision set the value at Rs 1,750 per sq.ft, which then decreased to Rs 1,172 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 1,750 per sq.ft in 2023, and then rose again to Rs 1,930 per sq.ft in the 2024 revision, reflecting a 10% increase from the previous year.

From 2017 to 2023, the guideline value increased by 49%. Overall, comparing the 2012 revision to the 2024 revision, there has been a 10% increase. The register has no figures for this street for the years 2002, 2003, and 2007.

Guideline values in Karambakkam

In Karambakkam, there are 159 streets under the Chennai South Joint I SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 5,500 per sq.ft. The median value across these streets is Rs 1,930 per sq.ft, which is the same as the current guideline value for Kanthasami Nagar Kantha Kannan Street.

• Karambakkam 1st Cross Street: Rs 3,030 per sq.ft (2024)
• Karambakkam 1st Main Road: Rs 3,030 per sq.ft (2024)
• Karambakkam 1st Street: Rs 3,030 per sq.ft (2024)
• Karambakkam 2nd Cross Street: Rs 3,030 per sq.ft (2024)
• Karambakkam 4 Square Junction: Rs 3,030 per sq.ft (2024)
• Karambakkam Bramin Street: Rs 2,480 per sq.ft (2024)

Stamp duty and registration fee for property in Kanthasami Nagar Kantha Kannan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,930 per sq.ft, the total guideline value amounts to Rs 19,30,000. The stamp duty at 7% would be Rs 1,35,100, and the registration fee at 2% would be Rs 38,600, leading to a total of Rs 1,73,700. It is important to note that duty is charged on the higher of the guideline value and the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kanthasami Nagar Kantha Kannan Street?

The Sub Registrar Office that covers Kanthasami Nagar Kantha Kannan 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. You can find your SRO for more details.

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

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

When buying or selling property, the guideline value is referenced to calculate the applicable stamp duty, which is charged on the higher of the guideline value or the sale price. This ensures transparency and uniformity in property transactions across the region.

Frequently asked questions

What is the current guideline value of Kanthasami Nagar Kantha Kannan Street?

The current guideline value of Kanthasami Nagar Kantha Kannan Street is Rs 1,930 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,750 per sq.ft in 2012 to Rs 1,172 per sq.ft in 2017, then to Rs 1,750 per sq.ft in 2023, and finally to Rs 1,930 per sq.ft in 2024.

What is the land classification for this street?

The land classification for Kanthasami Nagar Kantha Kannan Street is Residential Class III Type - I.

Where can I find the Sub Registrar Office for this street?

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

How is stamp duty calculated for properties in this area?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 19,30,000, the stamp duty would be calculated at 7% of that amount.