Guideline Value for Kanagasundaram Nagar

Kanagasundaram Nagar guideline value

The current guideline value of Kanagasundaram Nagar is Rs 825 per sq.ft, effective from 1 July 2024. This locality is situated in Melamaiyur village under the Chengleput Joint I SRO, classified as Residential Class I Type - I.

How the guideline value of Kanagasundaram Nagar has changed

Over the years, the guideline value of Kanagasundaram Nagar has seen several revisions. In the 2007 revision, the value was Rs 333 per sq.ft, which increased significantly to Rs 750 per sq.ft in 2012, marking a 125% rise. However, in the 2017 revision, the value dropped to Rs 502 per sq.ft, reflecting a decrease of 33%. The value then surged to Rs 750 per sq.ft in 2023, followed by a further increase to Rs 825 per sq.ft in the 2024 revision, which is a 10% increase from the previous year. The register has no figures for the years 2002 and 2003.

From 2017 to 2023, the guideline value increased by 49%. Overall, from 2007 to 2024, there has been a substantial increase of 148%, reflecting the evolving landscape of real estate in the area.

Guideline values in Melamaiyur

In Melamaiyur, there are 37 streets under the Chengleput Joint I SRO with a 2024 guideline value range from Rs 440 to Rs 3,000 per sq.ft. The median value for these streets is Rs 1,212 per sq.ft, indicating that Kanagasundaram Nagar's 2024 figure is below this median.

• Kannan Nagar: Rs 990 per sq.ft (2024)
• Kanthavelu Nagar: Rs 1,322 per sq.ft (2024)
• K.K.Nagar: Rs 825 per sq.ft (2024)
• Lake Avenue: Rs 1,322 per sq.ft (2024)
• Lakshmi Nagar: Rs 1,212 per sq.ft (2024)
• Green Land Avenue: Rs 1,322 per sq.ft (2024)

Stamp duty and registration fee for property in Kanagasundaram Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 825 per sq.ft, the total guideline value would be Rs 8,25,000. The stamp duty at 7% would amount to Rs 57,750, and the registration fee at 2% would be Rs 16,500, making the total fees together Rs 74,250. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kanagasundaram Nagar?

The Sub Registrar Office that covers Kanagasundaram Nagar is the Chengleput Joint I Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Melamaiyur. It serves as a benchmark for determining the minimum price at which properties can be sold or bought. When registering a property, the guideline value is used to calculate the applicable stamp duty and registration fees.

It is essential for buyers and sellers to be aware of the guideline value, as it directly impacts the costs associated with property transactions. Understanding this value helps ensure that all parties are informed about the financial implications of their real estate dealings.

Frequently asked questions

What is the current guideline value of Kanagasundaram Nagar?

The current guideline value of Kanagasundaram Nagar is Rs 825 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions, starting from Rs 333 per sq.ft in 2007 to Rs 825 per sq.ft in 2024, reflecting an overall increase of 148% over the years.

What are the stamp duty and registration fees in Kanagasundaram Nagar?

For a property valued at Rs 8,25,000, the stamp duty would be Rs 57,750, and the registration fee would be Rs 16,500, totaling Rs 74,250.

Which office handles registrations for Kanagasundaram Nagar?

The Chengleput Joint I Sub Registrar Office handles registrations for Kanagasundaram Nagar, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.

How does the guideline value affect property transactions?

The guideline value is used to determine the minimum price for property transactions and is essential for calculating stamp duty and registration fees during the registration process.