Guideline Value for Kanchi Manimozhiyar Colony (V.P)

Kanchi Manimozhiyar Colony (V.P) guideline value

The current guideline value of Kanchi Manimozhiyar Colony (V.P) is Rs 4,100 per sq.ft, effective from 1 July 2024. This area is located in Kodambakkam village and falls under the Ashok Nagar SRO. The land classification for this street is Residential Class IV Type - I.

How the guideline value of Kanchi Manimozhiyar Colony (V.P) has changed

The guideline value for Kanchi Manimozhiyar Colony (V.P) has seen several revisions over the years. The register does not have figures for the years 2002, 2003, 2007, 2012, and 2017. The 2023 revision set the value at Rs 3,750 per sq.ft, which was an increase from the previous revisions. The latest revision in 2024 raised the guideline value to Rs 4,100 per sq.ft, marking a 9% increase from the 2023 figure.

In summary, the value has changed from Rs 3,750 per sq.ft in 2023 to Rs 4,100 per sq.ft in 2024. The increases reflect the adjustments made by the Registration Department to align with market conditions.

Guideline values in Kodambakkam

In Kodambakkam, there are 1,031 streets under the Ashok Nagar SRO that carry a 2024 guideline value, ranging from Rs 2,200 to Rs 11,000 per sq.ft. The median value for these streets is Rs 4,900 per sq.ft, placing Kanchi Manimozhiyar Colony (V.P) below this median.

• Kanchi Natarajan Street: Rs 6,600 per sq.ft (2024)
• Kanagasabai Street: Rs 2,700 per sq.ft (2024)
• Kanagasabai 8th Cross Street: Rs 2,700 per sq.ft (2024)
• Kanagasabai 7th Cross Street: Rs 2,700 per sq.ft (2024)
• Kanagasabai 6th Cross Street: Rs 2,700 per sq.ft (2024)
• Kanagasabai 5th Cross Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Kanchi Manimozhiyar Colony (V.P)

For a 1,000 sq.ft plot at the current guideline value of Rs 4,100 per sq.ft, the total guideline value amounts to Rs 41,00,000. The stamp duty at 7% would be Rs 2,87,000, and the registration fee at 2% would be Rs 82,000, bringing the total to Rs 3,69,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Kanchi Manimozhiyar Colony (V.P)?

The Sub Registrar Office that covers Kanchi Manimozhiyar Colony (V.P) is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur EB Office. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration of property transactions in Kodambakkam. It serves as a benchmark for calculating the stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property transactions.

When buying or selling property, the guideline value helps determine the minimum price at which a property can be registered. This ensures transparency in property dealings and helps in maintaining a standard valuation across different properties in the area.

Frequently asked questions

What is the current guideline value of Kanchi Manimozhiyar Colony (V.P)?

The current guideline value of Kanchi Manimozhiyar Colony (V.P) is Rs 4,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,750 per sq.ft in 2023 to Rs 4,100 per sq.ft in 2024, reflecting a 9% increase. The register does not have figures for the years 2002, 2003, 2007, 2012, and 2017.

What is the median guideline value in Kodambakkam?

The median guideline value in Kodambakkam is Rs 4,900 per sq.ft for the 2024 revision. Kanchi Manimozhiyar Colony (V.P) is below this median.

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

For a property valued at Rs 41,00,000, the stamp duty would be Rs 2,87,000, and the registration fee would be Rs 82,000, totaling Rs 3,69,000. Duty is charged on the higher of the guideline value or the sale price.

Where is the Sub Registrar Office located for Kanchi Manimozhiyar Colony (V.P)?

The Ashok Nagar Sub Registrar Office is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur EB Office.