Guideline Value for Kanagasabai Street

Kanagasabai Street guideline value

The current guideline value of Kanagasabai 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 Street has changed

Over the years, the guideline value of Kanagasabai Street has seen significant changes. The 2007 revision recorded a value of Rs 620 per sq.ft, which increased to Rs 2,500 per sq.ft in the 2012 revision. This marked a substantial rise of 303%. The value remained unchanged at Rs 2,500 per sq.ft in the 2023 revision, before increasing to the current rate of Rs 2,700 per sq.ft in the 2024 revision, reflecting an 8% increase from the previous year.

It is important to note that the register does not contain figures for the years 2002, 2003, and 2017 for Kanagasabai Street. 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 that carry a 2024 guideline value, ranging from Rs 2,200 to Rs 11,000 per sq.ft. The median value for these streets is Rs 4,900 per sq.ft, placing Kanagasabai Street's 2024 figure below that median.

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

Stamp duty and registration fee for property in Kanagasabai 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, calculated at 7%, would be 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's important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Kanagasabai Street?

The Ashok Nagar Sub Registrar Office covers Kanagasabai Street, 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 during property transactions in Kodambakkam. It is used to determine the stamp duty and registration fees that buyers must pay when purchasing property. The registration process requires that these fees be calculated based on the guideline value or the sale price, whichever is higher.

When selling property, the guideline value ensures that the transaction is recorded at a fair price, as it reflects the government’s assessment of property values in the area. This helps maintain transparency and consistency in real estate transactions.

Frequently asked questions

What is the current guideline value of Kanagasabai Street?

The current guideline value of Kanagasabai 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 significantly, starting 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 stamp duty for property on Kanagasabai Street?

The stamp duty for property on Kanagasabai Street is calculated at 7% of the guideline value, which would amount to Rs 1,89,000 for a 1,000 sq.ft plot at the current rate.

Where is the Sub Registrar Office for Kanagasabai Street located?

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

What are the guideline values of other streets in Kodambakkam?

Other streets in Kodambakkam have guideline values ranging from Rs 2,200 to Rs 11,000 per sq.ft, with a median value of Rs 4,900 per sq.ft, making Kanagasabai Street's value below this median.