Guideline Value for Kanagasabai 1st Cross Street

Kanagasabai 1st Cross Street guideline value

The current guideline value of Kanagasabai 1st Cross Street is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Kodambakkam village and falls under the Ashok Nagar SRO, classified as Residential Class IV Type - III.

How the guideline value of Kanagasabai 1st Cross Street has changed

Looking at the historical revisions, the guideline value for Kanagasabai 1st Cross Street was Rs 620 per sq.ft in 2007. It saw a significant increase to Rs 2,500 per sq.ft in 2012, and this figure remained unchanged until the next revision in 2023, where it was again Rs 2,500 per sq.ft. The most recent revision in 2024 raised the guideline value to Rs 2,700 per sq.ft, marking an increase of 8% from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 335%. It is important to note that there are no figures available for the years 2002, 2003, and 2017 for this street.

Guideline values in Kodambakkam

In Kodambakkam, there are 1,031 streets under the Ashok Nagar SRO, with guideline values ranging from Rs 2,200 to Rs 11,000 per sq.ft. The median guideline value for these streets is Rs 4,900 per sq.ft, indicating that the 2024 figure for Kanagasabai 1st Cross Street is below this median.

• Kanagasabai 2nd Cross Street: Rs 2,700 per sq.ft (2024)
• Kanagasabai 3rd Cross Street: Rs 2,700 per sq.ft (2024)
• Kanagasabai 4th Cross Street: Rs 2,700 per sq.ft (2024)
• Kanagasabai 5th Cross Street: Rs 2,700 per sq.ft (2024)
• Kanagasabai 6th Cross Street: Rs 2,700 per sq.ft (2024)
• Kanagasabai 7th Cross Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Kanagasabai 1st Cross Street

For a 1,000 sq.ft plot at the current rate, the guideline value is Rs 27,00,000. The stamp duty at 7% would be Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, totaling Rs 2,43,000. 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 details.

Which Sub Registrar Office covers Kanagasabai 1st Cross Street?

The Sub Registrar Office that covers Kanagasabai 1st Cross Street is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near Nolambur Eb Office. You can find your SRO for further assistance.

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

The guideline value is a crucial factor in property transactions in Kodambakkam, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with legal requirements during the registration process.

When a property is sold, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value for Kanagasabai 1st Cross Street?

The current guideline value for Kanagasabai 1st Cross Street is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 620 per sq.ft in 2007 to Rs 2,700 per sq.ft in 2024, reflecting an overall increase of 335% over this period.

What is the registration office for Kanagasabai 1st Cross Street?

The registration office for Kanagasabai 1st Cross Street is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

What are the stamp duty rates for properties in this area?

The stamp duty for properties in Kanagasabai 1st Cross Street is charged at 7% of the guideline value or sale price, whichever is higher.

Are there other streets with the same guideline value in Kodambakkam?

Yes, there are several other streets in Kodambakkam that share the same guideline value of Rs 2,700 per sq.ft for 2024, including Kanagasabai 2nd, 3rd, 4th, 5th, 6th, and 7th Cross Streets.