Guideline Value for Kanagasabai 5th Cross Street

Kanagasabai 5th Cross Street guideline value

The current guideline value of Kanagasabai 5th Cross Street is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Kodambakkam village, under the Ashok Nagar SRO, and is classified as Residential Class IV Type - III.

How the guideline value of Kanagasabai 5th Cross Street has changed

The guideline value for Kanagasabai 5th Cross Street has seen several revisions over the years. The earliest figure available is from the 2007 revision, which was Rs 620 per sq.ft. This figure increased significantly to Rs 2,500 per sq.ft in both the 2012 and 2023 revisions. The most recent revision in 2024 raised the value to Rs 2,700 per sq.ft, marking an 8% increase from the previous year.

In summary, from 2007 to 2012, the guideline value increased by 303%, and there was no change from 2012 to 2023. Overall, from 2007 to 2024, the increase amounts to 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 as of 2024. The median guideline value in this area is Rs 4,900 per sq.ft, placing Kanagasabai 5th Cross Street's 2024 figure below that median.

• Kanagasabai 4th Cross Street: Rs 2,700 per sq.ft (2024)
• Kanagasabai 6th Cross Street: Rs 2,700 per sq.ft (2024)
• Kanagasabai 3rd Cross Street: Rs 2,700 per sq.ft (2024)
• Kanagasabai 7th Cross Street: Rs 2,700 per sq.ft (2024)
• Kanagasabai 2nd Cross Street: Rs 2,700 per sq.ft (2024)
• Kanagasabai 8th Cross Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Kanagasabai 5th Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value would be Rs 27,00,000. The stamp duty at 7% would amount to Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, bringing the total to Rs 2,43,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kanagasabai 5th Cross Street?

The Sub Registrar Office covering Kanagasabai 5th Cross Street is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By Nolambur Eb Office). You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Kodambakkam. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Kanagasabai 5th Cross Street?

The current guideline value of Kanagasabai 5th 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 an overall increase of 335% over the years.

What are the stamp duty and registration fees for property in this area?

For a property valued at Rs 27,00,000, the stamp duty would be Rs 1,89,000, and the registration fee would be Rs 54,000, totaling Rs 2,43,000.

Which Sub Registrar Office covers Kanagasabai 5th Cross Street?

The Ashok Nagar Sub Registrar Office covers Kanagasabai 5th Cross Street, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How is the guideline value used in property transactions?

The guideline value is used to determine the stamp duty and registration fees during property transactions. It is compared to the sale price, and the higher value is used for calculating the applicable duties.