Guideline Value for Kanchi Kama Kodi 5th Cross Street

Kanchi Kama Kodi 5th Cross Street guideline value

The current guideline value of Kanchi Kama Kodi 5th Cross Street is Rs 2,200 per sq.ft. This street is located in Madipakkam-1 village, under the Velacheri SRO, and is classified as Residential Class II Type - I.

How the guideline value of Kanchi Kama Kodi 5th Cross Street has changed

The guideline value for Kanchi Kama Kodi 5th Cross Street has undergone several revisions over the years. The 2017 revision set the value at Rs 1,340 per sq.ft. This was followed by the 2023 revision, which increased the value to Rs 2,000 per sq.ft, marking a significant increase of 49%. The latest revision in 2024 has further raised the guideline value to Rs 2,200 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2012 in the register for this street.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1,823 streets under the Velacheri SRO, with guideline values ranging from Rs 1,650 to Rs 5,500 per sq.ft. The median guideline value for these streets is Rs 2,750 per sq.ft, placing Kanchi Kama Kodi 5th Cross Street's 2024 figure below that median.

• Kanchi Kama Kodi 4th Cross Street: Rs 2,200 per sq.ft (2024)
• Kanchi Kama Kodi Main Road: Rs 2,200 per sq.ft (2024)
• Kanchi Kama Kodi 3rd Cross Street: Rs 2,200 per sq.ft (2024)
• Kanchi Kama Kodi Nagar: Rs 2,200 per sq.ft (2024)
• Kanchi Kama Kodi 2nd Cross Street: Rs 2,200 per sq.ft (2024)
• Kanchi Kamatchi Amman Nagar: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Kanchi Kama Kodi 5th Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty, charged at 7%, would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total fees together to Rs 1,98,000. It is important to note that duty is charged on the higher of the guideline value and the sale price.

You can also use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Kanchi Kama Kodi 5th Cross Street?

The Kanchi Kama Kodi 5th Cross Street falls under the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. To find your SRO, you can visit this link: find your SRO.

How the guideline value is used when you buy or sell in Madipakkam-1

The guideline value is a crucial factor in the registration process when buying or selling property in Madipakkam-1. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the transaction.

When a property is registered, the guideline value is compared with the sale price, and the higher amount is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Kanchi Kama Kodi 5th Cross Street?

The current guideline value of Kanchi Kama Kodi 5th Cross Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since the 2017 revision, the guideline value has increased from Rs 1,340 per sq.ft to Rs 2,200 per sq.ft in 2024, marking an overall increase of 64%.

What are the stamp duty and registration fees for property transactions?

The stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, while the registration fee is 2%. For example, a 1,000 sq.ft property at the current rate incurs total fees of Rs 1,98,000.

Which Sub Registrar Office covers this area?

The Velacheri Sub Registrar Office covers Kanchi Kama Kodi 5th Cross Street, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

How does the guideline value affect property transactions?

The guideline value is used to calculate the stamp duty and registration fees when buying or selling property. It ensures that the duties are based on the higher of the sale price or the guideline value, facilitating proper revenue collection for the government.