Guideline Value for Kanadasan Street

Kanadasan Street guideline value

The current guideline value of Kanadasan Street in Kovilpathagai village, under the Ambattur SRO, is Rs 880 per sq.ft, effective from 1 July 2024. This street is classified as Residential Class II Type - I.

How the guideline value of Kanadasan Street has changed

The guideline value for Kanadasan Street has seen several revisions over the years. In 2012, the value was set at Rs 800 per sq.ft, which decreased to Rs 536 per sq.ft in 2017. However, from 2017 to 2023, there was a significant increase of 49%, bringing the value up to Rs 800 per sq.ft. The most recent revision in 2024 has increased the value to Rs 880 per sq.ft, marking a 10% rise from the previous year.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for Kanadasan Street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Kovilpathagai

Kovilpathagai village has a total of 278 streets under the Ambattur SRO, with guideline values ranging from Rs 803 to Rs 2,900 per sq.ft. The median guideline value for these streets is Rs 870 per sq.ft, making Kanadasan Street's 2024 figure of Rs 880 per sq.ft above the median.

• Kammala Street: Rs 806 per sq.ft (2024)
• Kambar Street: Rs 806 per sq.ft (2024)
• Kannammaal Nagar: Rs 806 per sq.ft (2024)
• Kannappa Gileri Street: Rs 805 per sq.ft (2024)
• Karnam Street: Rs 807 per sq.ft (2024)
• Karnam Street Extn: Rs 807 per sq.ft (2024)

Stamp duty and registration fee for property in Kanadasan Street

For a 1,000 sq.ft plot at the current rate of Rs 880 per sq.ft, the guideline value would be Rs 8,80,000. The stamp duty at 7% would amount to Rs 61,600, and the registration fee at 2% would be Rs 17,600, totaling Rs 79,200. 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 Kanadasan Street?

The Sub Registrar Office that covers Kanadasan Street is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor in the registration process for buying or selling property in Kovilpathagai. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that the transaction is recorded at an appropriate value.

When a property is sold, the guideline value helps determine the financial obligations of the buyer in terms of duties and fees. This ensures that both parties are aware of the costs involved in the transaction, based on the established guideline value.

Frequently asked questions

What is the current guideline value of Kanadasan Street?

The current guideline value of Kanadasan Street is Rs 880 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 800 per sq.ft in 2012 to Rs 536 per sq.ft in 2017, then increased to Rs 800 per sq.ft in 2023, and finally to Rs 880 per sq.ft in 2024.

What is the land classification of Kanadasan Street?

Kanadasan Street is classified as Residential Class II Type - I.

Where can I find the registration office for Kanadasan Street?

The registration office for Kanadasan Street is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

How is stamp duty calculated for properties in Kovilpathagai?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property with a guideline value of Rs 8,80,000, the stamp duty at 7% would be Rs 61,600.