Guideline Value for Kancheepuram Cheenai Road

Kancheepuram Cheenai Road guideline value

The current guideline value of Kancheepuram Cheenai Road is Rs 500 per sq.ft, effective from 1 July 2024. This road is located in Sigadivakkam village and falls under the Sunguvarchattram SRO. The land classification for this area is Industries Type - I.

How the guideline value of Kancheepuram Cheenai Road has changed

Over the years, the guideline value of Kancheepuram Cheenai Road has seen several revisions. The 2012 revision set the value at Rs 500 per sq.ft, which remained unchanged until the 2023 revision, where it was again Rs 500 per sq.ft. The 2017 revision marked a significant increase to Rs 335 per sq.ft, reflecting a 49% rise from the previous revision. The register has no figure for this street in the years 2002, 2003, and 2007.

From 2012 to 2017, there was a decrease of 33%, but overall, from 2012 to 2024, the guideline value has remained constant at Rs 500 per sq.ft. The most recent revision in 2024 shows no change from the previous year, maintaining the value at Rs 500 per sq.ft.

Guideline values in Sigadivakkam

In Sigadivakkam, there are 11 streets under the Sunguvarchattram SRO that have a 2024 guideline value, ranging from Rs 181 to Rs 1,200 per sq.ft. The median guideline value for these streets is Rs 226 per sq.ft, placing Kancheepuram Cheenai Road above this median at Rs 500 per sq.ft.

• Kamachiamman Nagar: Rs 226 per sq.ft (2024)
• Kulakkarai Street: Rs 181 per sq.ft (2024)
• Mettu street: Rs 181 per sq.ft (2024)
• Palla street: Rs 181 per sq.ft (2024)
• Bangalore Main Road: Rs 500 per sq.ft (2024)
• Bangalore Hihghway Hitech City: Rs 181 per sq.ft (2024)

Stamp duty and registration fee for property in Kancheepuram Cheenai Road

For a 1,000 sq.ft plot at the current guideline value of Rs 500 per sq.ft, the total guideline value amounts to Rs 5,00,000. The stamp duty at 7% would be Rs 35,000, and the registration fee at 2% would be Rs 10,000, making the total cost for these fees Rs 45,000. It is important to note that duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kancheepuram Cheenai Road?

The Sub Registrar Office that covers Kancheepuram Cheenai Road is the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road, opposite Caparo Company, Sunguvarchatram, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the property registration process in Sigadivakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is documented at a fair value.

When buying or selling property, the guideline value influences the stamp duty and registration fees that need to be paid. Buyers should be aware that these fees are calculated 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 Kancheepuram Cheenai Road?

The current guideline value of Kancheepuram Cheenai Road is Rs 500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 500 per sq.ft since 2012, with a notable increase to Rs 335 per sq.ft in 2017, followed by a return to Rs 500 per sq.ft in 2023 and 2024.

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

For a property valued at Rs 5,00,000, the stamp duty would be Rs 35,000 and the registration fee would be Rs 10,000, totaling Rs 45,000. These fees are based on the guideline value or the sale price, whichever is higher.

Which Sub Registrar Office is responsible for Kancheepuram Cheenai Road?

The Sunguvarchattram Sub Registrar Office is responsible for Kancheepuram Cheenai Road, located at Vadivamal Nagar Kandigai Road, opposite Caparo Company, Sunguvarchatram.

What is the significance of the guideline value in property transactions?

The guideline value serves as a minimum benchmark for property registration, influencing the stamp duty and registration fees. It ensures that properties are registered at a fair value, reflecting market conditions.