Guideline Value for Kanagambaram Street

Kanagambaram Street guideline value

The current guideline value of Kanagambaram Street is Rs 1,320 per sq.ft, effective from 1 July 2024. This street is located in Peerklankaranai village and falls under the Tambaram Joint 1 SRO. The land classification for this area is Residential Class I Type - III.

How the guideline value of Kanagambaram Street has changed

The guideline value for Kanagambaram Street has seen several revisions over the years. In the 2012 revision, the value was set at Rs 1,200 per sq.ft, which then dropped to Rs 804 per sq.ft in the 2017 revision, marking a decrease of 33%. However, from 2017 to 2023, the value increased significantly by 49% to reach Rs 1,200 per sq.ft. The latest revision in 2024 has further increased the guideline value to Rs 1,320 per sq.ft, reflecting a 10% rise from the previous year.

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

Guideline values in Peerklankaranai

In Peerklankaranai, there are 322 streets under the Tambaram Joint 1 SRO, with guideline values ranging from Rs 880 to Rs 4,400 per sq.ft. The median guideline value for these streets is Rs 1,650 per sq.ft, which means that the 2024 guideline value for Kanagambaram Street is below this median.

• Kambar Street: Rs 1,320 per sq.ft (2024)
• Kambar 2st cross Street: Rs 1,320 per sq.ft (2024)
• Kambar 1st cross Street: Rs 1,320 per sq.ft (2024)
• Kannadasan Cross street: Rs 1,100 per sq.ft (2024)
• Kannadasan Street: Rs 1,100 per sq.ft (2024)
• Kannadasan Street Ext: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Kanagambaram Street

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, charged at 7%, would amount to Rs 92,400, while the registration fee at 2% would be Rs 26,400. Together, the total cost for these 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 our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kanagambaram Street?

Kanagambaram Street is covered by the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, 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 Peerklankaranai

The guideline value plays a crucial role in the registration process when buying or selling property in Peerklankaranai. It serves as a benchmark for determining the minimum value of the property, ensuring that the transaction is recorded at a fair price as per government regulations.

When registering a property, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Kanagambaram Street?

The current guideline value of Kanagambaram Street 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 2012 to Rs 804 per sq.ft in 2017, then back to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,320 per sq.ft in 2024.

What is the median guideline value for streets in Peerklankaranai?

The median guideline value for streets in Peerklankaranai is Rs 1,650 per sq.ft, which is higher than the current value of Kanagambaram Street.

What are the stamp duty and registration fees for properties on Kanagambaram Street?

For a property valued at Rs 13,20,000, the stamp duty would be Rs 92,400 and the registration fee would be Rs 26,400, totaling Rs 1,18,800.

Which office handles registrations for Kanagambaram Street?

The Tambaram Joint 1 Sub Registrar Office handles registrations for Kanagambaram Street, located at No.26, Mes Road, East Tambaram, Chennai-600059.