Guideline Value for Kanagadevar Street

Kanagadevar Street guideline value

The current guideline value of Kanagadevar Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Madipakkam-1 village under the Velacheri SRO, classified as Residential Class II Type - I.

How the guideline value of Kanagadevar Street has changed

The guideline value register does not contain figures for Kanagadevar Street for the years 2002, 2003, 2007, 2012, 2017, and 2023. The only available revision is for 2024, where the guideline value is set at Rs 2,200 per sq.ft.

There have been no changes between the revisions mentioned above, and the current value reflects the latest revision as of 2024.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1823 streets under the Velacheri SRO, with a 2024 guideline value range from Rs 1,650 to Rs 5,500 per sq.ft. The median guideline value for this area is Rs 2,750 per sq.ft, placing Kanagadevar Street's 2024 figure below that median.

• Kanakavalli Street: Rs 2,200 per sq.ft (2024)
• Kanchi Kama Kodi 1st Cross Street: Rs 2,200 per sq.ft (2024)
• Kanchi Kama Kodi 2nd Cross Street: Rs 2,200 per sq.ft (2024)
• Kanchi Kama Kodi 3rd Cross Street: Rs 2,200 per sq.ft (2024)
• Kanchi Kama Kodi 4th Cross Street: Rs 2,200 per sq.ft (2024)
• Kanchi Kama Kodi 5th Cross Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Kanagadevar Street

For a 1,000 sq.ft plot at the current rate of Rs 2,200 per sq.ft, the guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, totaling Rs 1,98,000. Please 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 Kanagadevar Street?

The Sub Registrar Office that covers Kanagadevar Street is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Madipakkam-1

The guideline value is crucial during property transactions as it determines the amount of stamp duty and registration fees payable. When a property is sold, the guideline value is considered to ensure that the transaction is recorded accurately with the authorities.

It is important to note that the guideline value can influence the financial aspects of buying or selling property, as it serves as a benchmark for the official valuation of the property in the registration process.

Frequently asked questions

What is the current guideline value of Kanagadevar Street?

The current guideline value of Kanagadevar Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value register does not contain figures for Kanagadevar Street for the years 2002, 2003, 2007, 2012, 2017, and 2023. The only available revision is for 2024, where the guideline value is set at Rs 2,200 per sq.ft.

What are the guideline values of other streets in Madipakkam-1?

Other streets in Madipakkam-1 have guideline values ranging from Rs 1,650 to Rs 5,500 per sq.ft, with a median of Rs 2,750 per sq.ft. Kanagadevar Street's value is below this median.

How is stamp duty calculated for properties on Kanagadevar Street?

Stamp duty for properties on Kanagadevar Street is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot would incur a stamp duty of Rs 1,54,000 based on the current guideline value.

Where can I find the Sub Registrar Office for Kanagadevar Street?

The Sub Registrar Office for Kanagadevar Street is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find more information by visiting the appropriate link.