Guideline Value for Kanakadass Street, Gandhi Nagar Extn

Kanakadass Street, Gandhi Nagar Extn guideline value

The current guideline value of Kanakadass Street, Gandhi Nagar Extn is Rs 2,475 per sq.ft, effective from 1 July 2024. This street is located in Pammal village, under the Pammal SRO, and is classified as Residential Class I Type - II.

How the guideline value of Kanakadass Street, Gandhi Nagar Extn has changed

Over the years, the guideline value of Kanakadass Street has seen significant changes. The 2017 revision recorded a value of Rs 1,507 per sq.ft, which increased to Rs 2,250 per sq.ft in the 2023 revision, marking a 49% increase. The current 2024 revision reflects a further increase to Rs 2,475 per sq.ft, which is a 10% rise from the previous year. It is important to note that the register has no figure for this street for the years 2002, 2003, 2007, and 2012.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. This consistent rise in the guideline value indicates changes in the property landscape in the area.

Guideline values in Pammal

Pammal village has a total of 926 streets under the Pammal SRO that carry a 2024 guideline value ranging from Rs 880 to Rs 3,300 per sq.ft. The median value is Rs 2,090 per sq.ft, and the guideline value of Kanakadass Street is above this median.

• Kanakadass Street: Rs 2,475 per sq.ft (2024)
• Kanchi Munuswamy Street VOC Nagar: Rs 2,750 per sq.ft (2024)
• Kandaswami Street / Ganapathy Nagar: Rs 1,760 per sq.ft (2024)
• Kambar Street (V.O.C. Nagar): Rs 2,750 per sq.ft (2024)
• Kambar Street (Muthamazhi Nagar): Rs 2,475 per sq.ft (2024)
• Kannadasan Street (Easwar Nagar): Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Kanakadass Street, Gandhi Nagar Extn

For a 1,000 sq.ft plot at the current guideline value of Rs 2,475 per sq.ft, the total guideline value amounts to Rs 24,75,000. The stamp duty at 7% would be Rs 1,73,250, and the registration fee at 2% would be Rs 49,500, bringing the total cost for stamp duty and registration fees to Rs 2,22,750. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kanakadass Street, Gandhi Nagar Extn?

The Sub Registrar Office that covers Kanakadass Street, Gandhi Nagar Extn is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, 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 Pammal

The guideline value is a critical factor when buying or selling property in Pammal. It serves as the minimum value for which property transactions can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When a property is sold, the guideline value is used to calculate the applicable stamp duty and registration fees. This value is essential for both buyers and sellers to understand the financial implications of property transactions in the area.

Frequently asked questions

What is the current guideline value of Kanakadass Street?

The current guideline value of Kanakadass Street, Gandhi Nagar Extn is Rs 2,475 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 1,507 per sq.ft in 2017 to Rs 2,250 per sq.ft in 2023, and now to Rs 2,475 per sq.ft in 2024. This represents an overall increase of 64% from 2017 to 2024.

What is the land classification for Kanakadass Street?

Kanakadass Street is classified as Residential Class I Type - II, indicating its suitability for residential development.

Where is the Sub Registrar Office for Kanakadass Street located?

The Sub Registrar Office for Kanakadass Street is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone.

How is the stamp duty calculated for property transactions?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 24,75,000, the stamp duty would be calculated at 7% of that amount.