Guideline Value for Kanagasabai 7th Cross Street

Kanagasabai 7th Cross Street guideline value

The current guideline value of Kanagasabai 7th 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 Sub Registrar Office (SRO). The land classification for this area is Residential Class IV Type - III.

How the guideline value of Kanagasabai 7th Cross Street has changed

The guideline value for Kanagasabai 7th Cross Street has seen several revisions over the years. The earliest recorded figure is from 2007, where the guideline value was Rs 620 per sq.ft. This figure increased significantly to Rs 2,500 per sq.ft in 2012, marking a remarkable change of 303%. The value remained unchanged at Rs 2,500 per sq.ft until the next revision in 2023, where it increased to Rs 2,700 per sq.ft. This change represents an 8% increase. The current figure of Rs 2,700 per sq.ft will be effective from 1 July 2024.

There are no recorded figures for the years 2002, 2003, and 2017 for this street. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 335%.

Guideline values in Kodambakkam

In Kodambakkam, there are 1,031 streets under the Ashok Nagar SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 11,000 per sq.ft, with a median value of Rs 4,900 per sq.ft. The guideline value of Kanagasabai 7th Cross Street is below this median.

• Kanagasabai 6th Cross Street: Rs 2,700 per sq.ft (2024)
• Kanagasabai 8th Cross Street: Rs 2,700 per sq.ft (2024)
• Kanagasabai 5th Cross Street: Rs 2,700 per sq.ft (2024)
• Kanagasabai 4th Cross Street: Rs 2,700 per sq.ft (2024)
• Kanagasabai Street: Rs 2,700 per sq.ft (2024)
• Kanagasabai 3rd Cross Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Kanagasabai 7th Cross Street

For a 1,000 sq.ft plot at the current rate of Rs 2,700 per sq.ft, the guideline value amounts to 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, 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 or the sale price.

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

Which Sub Registrar Office covers Kanagasabai 7th Cross Street?

The Ashok Nagar Sub Registrar Office covers Kanagasabai 7th Cross Street. The office is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the 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 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 a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees.

When a property is sold, the buyer and seller must declare the sale price, which cannot be lower than the guideline value. This helps maintain transparency in property transactions and ensures that all parties comply with legal requirements.

Frequently asked questions

What is the current guideline value of Kanagasabai 7th Cross Street?

The current guideline value of Kanagasabai 7th 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, marking an overall increase of 335%.

What is the registration office for Kanagasabai 7th Cross Street?

The registration office for Kanagasabai 7th 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 and registration fees for property in this area?

The stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, and the registration fee is 2% of the guideline value. For a property valued at Rs 27,00,000, the total fees would be Rs 2,43,000.

What is the land classification for Kanagasabai 7th Cross Street?

The land classification for Kanagasabai 7th Cross Street is Residential Class IV Type - III.