Guideline Value for KUNDALAKESI STREET (N)

Kundalakesi Street (N) guideline value

The current guideline value of Kundalakesi Street (N) 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 Kundalakesi Street (N) has changed

The guideline value for Kundalakesi Street (N) has seen several revisions over the years. The 2012 revision set the value at Rs 1,200 per sq.ft, which was then reduced to Rs 804 per sq.ft in the 2017 revision. However, from 2017 to 2023, the guideline value increased significantly to Rs 1,200 per sq.ft, marking a 49% rise. The most recent revision in 2024 has further increased the value to Rs 1,320 per sq.ft, a 10% increase from the previous year.

It is important to note that there are no figures available for Kundalakesi Street (N) in the revisions from 2002, 2003, and 2007. Overall, the guideline value has increased by 10% from the 2012 figure to the current 2024 figure.

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 value for these streets is Rs 990 per sq.ft, and Kundalakesi Street (N) is above this median with its current value of Rs 1,320 per sq.ft.

• Kuravanji Street (Ward -8): Rs 1,320 per sq.ft (2024)
• Kumaranar Street (Ward -5): Rs 1,320 per sq.ft (2024)
• Kumaragurubarar Street (Ward -4): Rs 1,320 per sq.ft (2024)
• K V Vines Nagar (Sa): Rs 440 per sq.ft (2024)
• Kulakkarai Street (Ward -17): Rs 550 per sq.ft (2024)
• Kulakkarai Street Old (Ward -18): Rs 550 per sq.ft (2024)

Stamp duty and registration fee for property in Kundalakesi Street (N)

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 would be calculated at 7%, amounting to Rs 92,400, and the registration fee at 2% would be Rs 26,400. Together, the total fees would be Rs 1,18,800. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kundalakesi Street (N)?

The Sub Registrar Office that covers Kundalakesi Street (N) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the 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 plays a crucial role in property transactions in Panangottur. It is used to determine the stamp duty and registration fees that need to be paid during the registration process. Buyers and sellers must be aware of the current guideline value to ensure compliance with legal requirements.

When a property is sold, the guideline value is considered as a benchmark for the transaction. This ensures that the government receives the appropriate revenue through stamp duty, which is calculated based on the higher of the guideline value or the sale price.

Frequently asked questions

What is the current guideline value of Kundalakesi Street (N)?

The current guideline value of Kundalakesi Street (N) 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 2023 to Rs 1,320 per sq.ft in 2024, marking a 10% increase. It was Rs 804 per sq.ft in 2017 and Rs 1,200 per sq.ft in 2012, showing a significant rise over the years.

What are the other streets in Panangottur with similar guideline values?

Other streets in Panangottur with a guideline value of Rs 1,320 per sq.ft include Kuravanji Street, Kumaranar Street, and Kumaragurubarar Street. These streets share the same current guideline value as Kundalakesi Street (N).

What is the registration fee for properties in Kundalakesi Street (N)?

The registration fee for properties in Kundalakesi Street (N) is calculated at 2% of the guideline value. For example, for a property valued at Rs 13,20,000, the registration fee would be Rs 26,400.

Where can I find the Sub Registrar Office for Kundalakesi Street (N)?

The Chengleput Joint II Sub Registrar Office covers Kundalakesi Street (N) and is located at 10, Kancheepuram Main Road, Chengalpattu 603 002. You can find more information about your SRO online.