Guideline Value for Kanagasabai 2nd Cross Street

Kanagasabai 2nd Cross Street guideline value

The current guideline value of Kanagasabai 2nd 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. The land classification for this area is Residential Class IV Type - III.

How the guideline value of Kanagasabai 2nd Cross Street has changed

Over the years, the guideline value for Kanagasabai 2nd Cross Street has seen significant changes. The earliest available figure is from the 2007 revision, which was Rs 620 per sq.ft. This increased to Rs 2,500 per sq.ft in the 2012 revision, remaining unchanged until the 2023 revision, where it again held at Rs 2,500 per sq.ft. The 2024 revision marked a notable increase to Rs 2,700 per sq.ft, reflecting an 8% rise from the previous year.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 335%. The register does not have figures 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 Kanagasabai 2nd Cross Street's current value is below this median.

• Kanagasabai 1st 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 2nd Cross Street

For a 1,000 sq.ft plot at the current rate of Rs 2,700 per sq.ft, the guideline value would be Rs 27,00,000. The stamp duty at 7% would amount to Rs 1,89,000, while 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 2nd Cross Street?

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

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

The guideline value plays a crucial role in the registration process when buying or selling property in Kodambakkam. It serves as a benchmark for determining the minimum value at which property transactions can be registered. This ensures that the government receives appropriate revenue through stamp duties and registration fees based on the guideline value.

When a property is sold, the sale price must be at least equal to the guideline value to avoid discrepancies during registration. Buyers and sellers should be aware of the guideline value to ensure compliance with local regulations and to accurately calculate the associated fees.

Frequently asked questions

What is the current guideline value of Kanagasabai 2nd Cross Street?

The current guideline value of Kanagasabai 2nd 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 increased from Rs 620 per sq.ft in 2007 to Rs 2,700 per sq.ft in 2024, marking a total increase of 335% over the years.

What is the land classification for Kanagasabai 2nd Cross Street?

Kanagasabai 2nd Cross Street is classified as Residential Class IV Type - III.

Where can I find the Sub Registrar Office for this street?

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

How is stamp duty calculated for property in this area?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a 1,000 sq.ft plot at the current rate, the total stamp duty and registration fee would be Rs 2,43,000.