Guideline Value for Kanagasabai 6th Cross Street

Kanagasabai 6th Cross Street guideline value

The current guideline value of Kanagasabai 6th 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 6th Cross Street has changed

The guideline value for Kanagasabai 6th Cross Street has seen several revisions over the years. In the 2007 revision, the value was set at Rs 620 per sq.ft, which increased significantly to Rs 2,500 per sq.ft in the 2012 revision. This figure remained unchanged through the 2023 revision. The most recent revision in 2024 saw the guideline value rise to Rs 2,700 per sq.ft, marking an 8% increase from the previous year.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 335%. Notably, there are no figures available for the years 2002, 2003, and 2017 in the register for this street.

Guideline values in Kodambakkam

In Kodambakkam, there are 1,031 streets under the Ashok Nagar SRO that carry a guideline value for 2024, ranging from Rs 2,200 to Rs 11,000 per sq.ft. The median guideline value in this area is Rs 4,900 per sq.ft, positioning Kanagasabai 6th Cross Street's 2024 figure below this median.

• Kanagasabai 5th Cross Street: Rs 2,700 per sq.ft (2024)
• Kanagasabai 7th Cross Street: Rs 2,700 per sq.ft (2024)
• Kanagasabai 4th Cross Street: Rs 2,700 per sq.ft (2024)
• Kanagasabai 8th Cross Street: Rs 2,700 per sq.ft (2024)
• Kanagasabai 3rd Cross Street: Rs 2,700 per sq.ft (2024)
• Kanagasabai 2nd Cross Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Kanagasabai 6th 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 fees to 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 detailed calculations.

Which Sub Registrar Office covers Kanagasabai 6th Cross Street?

The Sub Registrar Office that covers Kanagasabai 6th 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 is a crucial factor during the registration process when buying or selling property in Kodambakkam. It serves as a benchmark for determining the stamp duty and registration fees payable to the government.

When a property is registered, the guideline value is compared with the sale price, and the higher of the two amounts is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue based on the property's assessed value.

Frequently asked questions

What is the current guideline value of Kanagasabai 6th Cross Street?

The current guideline value of Kanagasabai 6th Cross Street is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since the 2007 revision, the guideline value has increased from Rs 620 per sq.ft 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 6th Cross Street?

Kanagasabai 6th Cross Street is classified as Residential Class IV Type - III, indicating its designation for residential use.

How do stamp duty and registration fees work in this area?

Stamp duty and registration fees are calculated based on the higher of the guideline value or sale price. For example, on a property valued at Rs 27,00,000, the total fees would amount to Rs 2,43,000.

Which office handles registrations for Kanagasabai 6th Cross Street?

The Ashok Nagar Sub Registrar Office is responsible for registrations in Kanagasabai 6th Cross Street, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.