Guideline Value for Kanakadara Nagar 1st Cross Street

Kanakadara Nagar 1st Cross Street guideline value

The current guideline value of Kanakadara Nagar 1st Cross Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Valasaravakkam village, under the Virugambakkam SRO, and is classified as Residential Class II Type - II.

How the guideline value of Kanakadara Nagar 1st Cross Street has changed

Over the years, the guideline value for Kanakadara Nagar 1st Cross Street has seen significant changes. The 2007 revision recorded a guideline value of Rs 500 per sq.ft, which increased dramatically to Rs 3,000 per sq.ft in 2012, marking a 500% rise. However, from 2012 to 2017, the value decreased to Rs 2,010 per sq.ft, a drop of 33%. The value then rose sharply to Rs 3,000 per sq.ft in 2023, and further increased to Rs 3,300 per sq.ft in the 2024 revision, reflecting a 10% increase.

From the 2017 revision to the 2023 revision, the guideline value increased by 49%. Overall, from 2007 to 2024, the guideline value has risen by 560%. It is important to note that the register has no figures for the years 2002 and 2003 for this street.

Guideline values in Valasaravakkam

In Valasaravakkam, there are 774 streets under the Virugambakkam SRO, with guideline values ranging from Rs 2,750 to Rs 8,800 per sq.ft. The median guideline value for these streets is Rs 3,850 per sq.ft, placing Kanakadara Nagar 1st Cross Street's 2024 value below this median.

• Kanakadara Nagar 1st Street: Rs 3,300 per sq.ft (2024)
• Kanakadara Nagar 2nd Cross Street: Rs 3,300 per sq.ft (2024)
• Kanagathara Nagar Main Road: Rs 3,300 per sq.ft (2024)
• Kanakadara Nagar 2nd Street: Rs 3,300 per sq.ft (2024)
• Kanakadara Nagar 3rd Cross Street: Rs 3,300 per sq.ft (2024)
• Kanakadara Nagar 3rd Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Kanakadara Nagar 1st Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total cost for these fees to Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Kanakadara Nagar 1st Cross Street?

The Sub Registrar Office covering Kanakadara Nagar 1st Cross Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Valasaravakkam. It serves as a benchmark for determining the stamp duty and registration fees that must be paid, ensuring that these costs are based on a standardized value rather than the sale price alone.

When a property is registered, the guideline value is assessed to ensure compliance with local regulations. Buyers and sellers should be aware of these values as they can significantly impact the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Kanakadara Nagar 1st Cross Street?

The current guideline value of Kanakadara Nagar 1st Cross Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 500 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, marking an overall increase of 560% over the years.

What is the land classification of Kanakadara Nagar 1st Cross Street?

Kanakadara Nagar 1st Cross Street is classified as Residential Class II Type - II.

What are the stamp duty and registration fees for a property in this area?

For a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 and the registration fee would be Rs 66,000, totaling Rs 2,97,000.

Which Sub Registrar Office covers this street?

The Virugambakkam Sub Registrar Office covers Kanakadara Nagar 1st Cross Street, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.