Guideline Value for Kandan Street

Kandan Street guideline value

The current guideline value of Kandan Street in Saligramam village, under the Virugambakkam SRO, is Rs 3,300 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class III Type - I land classification.

How the guideline value of Kandan Street has changed

The guideline value for Kandan Street has undergone several revisions over the years. In 2002, the value was Rs 339 per sq.ft, which increased to Rs 371 per sq.ft in 2003, marking a 9% rise. The value then saw a significant increase to Rs 550 per sq.ft in 2007, representing a 48% change. By 2012, the guideline value was Rs 3,000 per sq.ft, reflecting a notable 445% increase from the previous revision.

In the following years, the value fluctuated, reaching Rs 2,010 per sq.ft in 2017, which was a decrease of 33% from the 2012 figure. The guideline value then rose to Rs 3,000 per sq.ft in 2023, and subsequently increased by 10% to the current value of Rs 3,300 per sq.ft in 2024. There are no figures available for Kandan Street for the years not listed in the register.

Guideline values in Saligramam

In Saligramam, there are 333 streets under the Virugambakkam SRO, with 2024 guideline values ranging from Rs 2,750 to Rs 13,200 per sq.ft. The median guideline value for the area is Rs 4,400 per sq.ft, indicating that Kandan Street's current value is below this median.

• Kannabiran Colony: Rs 6,600 per sq.ft (2024)
• Kannabiran Street: Rs 6,600 per sq.ft (2024)
• Kambar Street: Rs 4,400 per sq.ft (2024)
• Kannammal Street: Rs 6,600 per sq.ft (2024)
• Kamaraj Street: Rs 5,500 per sq.ft (2024)
• Kanniamman Street: Rs 6,600 per sq.ft (2024)

Stamp duty and registration fee for property in Kandan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, while the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. Please note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kandan Street?

The Sub Registrar Office that covers Kandan Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for further assistance.

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

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

When buying or selling property, the guideline value helps both parties understand the official valuation of the property. It is important to note that the duty is charged on the higher of the guideline value or the sale price, which can affect the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Kandan Street?

The current guideline value of Kandan 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 seen several revisions, starting from Rs 339 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, representing an overall increase of 873%.

What is the median guideline value in Saligramam?

The median guideline value in Saligramam is Rs 4,400 per sq.ft for the year 2024, which is higher than the current value of Kandan Street.

What are the stamp duty and registration fees for Kandan Street?

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.

Where is the Sub Registrar Office for Kandan Street located?

The Virugambakkam Sub Registrar Office is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.