Guideline Value for Kanaga Chatiram (Ward 20)

Kanaga Chatiram (Ward 20) guideline value

The current guideline value of Kanaga Chatiram (Ward 20) is Rs 1,300 per sq.ft, effective from 1 July 2024. This area is located in Madhavaram village and falls under the Madhavaram SRO. The land classification for this street is Residential Class III Type - I.

How the guideline value of Kanaga Chatiram (Ward 20) has changed

The guideline value for Kanaga Chatiram (Ward 20) has seen several revisions over the years. The 2012 revision set the guideline value at Rs 1,200 per sq.ft, which remained unchanged until the 2023 revision. In 2023, the value was updated to Rs 1,200 per sq.ft, and then increased to Rs 1,300 per sq.ft in the 2024 revision, marking an 8% increase from the previous year.

There are no figures available for the revisions in 2002, 2003, 2007, and 2017 for this street. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 8%.

Guideline values in Madhavaram

In Madhavaram, there are 1,946 streets under the Madhavaram SRO that carry a 2024 guideline value ranging from Rs 1,300 to Rs 7,500 per sq.ft. The median guideline value for these streets is Rs 1,600 per sq.ft, placing Kanaga Chatiram (Ward 20) below this median.

• Kamsan Nagar (Ward-8): Rs 2,200 per sq.ft (2024)
• Kanagan Chathiram (Ward-30): Rs 1,300 per sq.ft (2024)
• Kanchi Nagar: Rs 1,300 per sq.ft (2024)
• Kanchi Nagar Extension: Rs 1,300 per sq.ft (2024)
• Kanchi Nagar Road (Ward No.29): Rs 1,300 per sq.ft (2024)
• Kanchi Nagar (Ward-29): Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Kanaga Chatiram (Ward 20)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value would be Rs 13,00,000. The stamp duty at 7% would be Rs 91,000, and the registration fee at 2% would be Rs 26,000, bringing the total to Rs 1,17,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kanaga Chatiram (Ward 20)?

The Sub Registrar Office that covers Kanaga Chatiram (Ward 20) is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process of property transactions in Madhavaram. It serves as the basis for calculating stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property sales.

When buying or selling property, it is essential to be aware of the guideline value, as it can affect the overall costs involved in the transaction. Buyers should ensure that they are informed of the current guideline value to avoid any discrepancies during registration.

Frequently asked questions

What is the current guideline value of Kanaga Chatiram (Ward 20)?

The current guideline value of Kanaga Chatiram (Ward 20) is Rs 1,300 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 1,300 per sq.ft in 2024, marking an overall increase of 8% over this period.

What is the land classification for Kanaga Chatiram (Ward 20)?

Kanaga Chatiram (Ward 20) is classified as Residential Class III Type - I.

Where can I find the Madhavaram Sub Registrar Office?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

How is stamp duty calculated for properties in Kanaga Chatiram (Ward 20)?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value would incur a total stamp duty of Rs 91,000.