Guideline Value for Kanakadara Nagar 3rd Cross Street

Kanakadara Nagar 3rd Cross Street guideline value

The current guideline value of Kanakadara Nagar 3rd Cross Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Valasaravakkam village and falls under the Virugambakkam SRO. The land classification for this area is Residential Class II Type - II.

How the guideline value of Kanakadara Nagar 3rd Cross Street has changed

The guideline value for Kanakadara Nagar 3rd Cross Street has seen several revisions over the years. The earliest recorded figure is from the 2007 revision, which was Rs 500 per sq.ft. This increased significantly to Rs 3,000 per sq.ft in the 2012 revision, marking a 500% increase. However, the value then dropped to Rs 2,010 per sq.ft in the 2017 revision, reflecting a decrease of 33%. The 2023 revision saw another increase to Rs 3,000 per sq.ft, followed by the current value of Rs 3,300 per sq.ft in 2024, which is a 10% increase from the previous year.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 560%. The revisions for the years 2002 and 2003 have no figures recorded for this street in the register.

Guideline values in Valasaravakkam

In Valasaravakkam, there are 774 streets under the Virugambakkam SRO that carry a 2024 guideline value ranging from Rs 2,750 to Rs 8,800 per sq.ft. The median value for these streets is Rs 3,850 per sq.ft, placing the 2024 guideline value of Kanakadara Nagar 3rd Cross Street below this median.

• Kanakadara Nagar 1st Street: Rs 3,300 per sq.ft (2024)
• Kanakadara Nagar 2nd Street: Rs 3,300 per sq.ft (2024)
• Kanakadara Nagar 2nd Cross Street: Rs 3,300 per sq.ft (2024)
• Kanakadara Nagar 3rd Street: Rs 3,300 per sq.ft (2024)
• Kanakadara Nagar 4th Cross Street: Rs 3,300 per sq.ft (2024)
• Kanakadara Nagar 5th Cross Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Kanakadara Nagar 3rd 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 would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total fees to Rs 2,97,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for further assistance.

Which Sub Registrar Office covers Kanakadara Nagar 3rd Cross Street?

The Sub Registrar Office that covers Kanakadara Nagar 3rd Cross Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor when registering property transactions in Valasaravakkam. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives appropriate revenue from stamp duties and registration fees.

When buying or selling property, the guideline value helps both buyers and sellers understand the official valuation of the property. It is important to be aware that the final amount for stamp duty is based on the higher of the guideline value or the sale price, which can impact the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Kanakadara Nagar 3rd Cross Street?

The current guideline value of Kanakadara Nagar 3rd 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 from Rs 500 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 560% over this period.

What are the stamp duty and registration fees for properties 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 Kanakadara Nagar 3rd Cross Street?

The Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037, covers Kanakadara Nagar 3rd Cross Street.

What is the land classification for Kanakadara Nagar 3rd Cross Street?

The land classification for Kanakadara Nagar 3rd Cross Street is Residential Class II Type - II.