Guideline Value for Kanagasabai 8th Cross Street

Kanagasabai 8th Cross Street guideline value

The current guideline value of Kanagasabai 8th 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 8th Cross Street has changed

The guideline value for Kanagasabai 8th Cross Street has undergone several revisions over the years. The oldest recorded revision is from 2007, where the value was Rs 620 per sq.ft. This figure saw a significant increase to Rs 2,500 per sq.ft in 2012, marking a rise of 303%. However, there were no recorded figures for the years 2002, 2003, and 2017.

In the subsequent revisions, the guideline value remained unchanged at Rs 2,500 per sq.ft from 2012 to 2023. The latest revision in 2024 has increased the guideline value to Rs 2,700 per sq.ft, reflecting an 8% increase from the previous year. Overall, from 2007 to 2024, the guideline value has increased by 335%.

Guideline values in Kodambakkam

In Kodambakkam, there are 1,031 streets under the Ashok Nagar SRO with 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. Kanagasabai 8th Cross Street's current value is below this median.

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

Stamp duty and registration fee for property in Kanagasabai 8th 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 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, making the total fees Rs 2,43,000. Please 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 8th Cross Street?

The Sub Registrar Office that covers Kanagasabai 8th 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 additional information.

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. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that transactions are conducted transparently and fairly.

When a property is sold, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions, reflecting the true market conditions.

Frequently asked questions

What is the current guideline value of Kanagasabai 8th Cross Street?

The current guideline value of Kanagasabai 8th 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 is the land classification for Kanagasabai 8th Cross Street?

Kanagasabai 8th Cross Street is classified as Residential Class IV Type - III.

Where can I find the Ashok Nagar Sub Registrar Office?

The Ashok Nagar Sub Registrar Office is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office.

How is stamp duty calculated for properties in Kodambakkam?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property valued at Rs 27,00,000 would incur a stamp duty of Rs 1,89,000 at 7%.