Guideline Value for Kanagaraj Street

Kanagaraj Street guideline value

The current guideline value of Kanagaraj Street is Rs 1,100 per sq.ft, effective from 1 July 2024. This street is located in Selaiyur village, under the Selaiyur SRO, and is classified as Residential Class IV Type - I.

How the guideline value of Kanagaraj Street has changed

Over the years, the guideline value for Kanagaraj Street has seen several revisions. The 2012 revision set the value at Rs 1,000 per sq.ft, which was later reduced to Rs 670 per sq.ft in the 2017 revision. Following this, the value increased to Rs 1,000 per sq.ft in 2023, and finally to Rs 1,100 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

From 2017 to 2023, the value rose significantly by 49%. Overall, comparing the values from 2012 to 2024, there has been a 10% increase. The revisions for the years 2002, 2003, and 2007 have no figures available for Kanagaraj Street.

Guideline values in Selaiyur

In Selaiyur village, there are 478 streets under the Selaiyur SRO that carry a 2024 guideline value ranging from Rs 850 to Rs 6,500 per sq.ft, with a median value of Rs 2,200 per sq.ft. The guideline value for Kanagaraj Street is below this median.

• Kanaga Nagar: Rs 1,100 per sq.ft (2024)
• Kandasamy Colony: Rs 2,750 per sq.ft (2024)
• Kambar Street: Rs 3,300 per sq.ft (2024)
• Kannadasan Street: Rs 1,100 per sq.ft (2024)
• Kannaiyapuram: Rs 850 per sq.ft (2024)
• Kannaki Street: Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in Kanagaraj Street

For a 1,000 sq.ft plot at the current rate of Rs 1,100 per sq.ft, the guideline value would be Rs 11,00,000. The stamp duty at 7% would be Rs 77,000, and the registration fee at 2% would be Rs 22,000, totaling Rs 99,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Kanagaraj Street?

The Sub Registrar Office covering Kanagaraj Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for additional assistance.

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

The guideline value is a crucial factor when buying or selling property in Selaiyur. It serves as a benchmark for determining the minimum value at which a property can be registered. This value is used by the registration department to calculate stamp duty and registration fees, ensuring that all transactions are conducted fairly and transparently.

When a buyer agrees on a sale price with the seller, the higher of the sale price or the guideline value will be used to calculate the applicable duties. This means that even if the sale price is lower than the guideline value, the buyer will still be required to pay duties based on the guideline value.

Frequently asked questions

What is the current guideline value of Kanagaraj Street?

The current guideline value of Kanagaraj Street is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2012 to Rs 670 per sq.ft in 2017, then to Rs 1,000 per sq.ft in 2023, and finally to Rs 1,100 per sq.ft in 2024.

What is the land classification of Kanagaraj Street?

Kanagaraj Street is classified as Residential Class IV Type - I.

Where is the Selaiyur Sub Registrar Office located?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.

How is stamp duty calculated for properties in Kanagaraj Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 11,00,000, the stamp duty would be Rs 77,000 at 7%.