Guideline Value for Kandappa Lane

Kandappa Lane guideline value

The current guideline value of Kandappa Lane, located in Vepery village under the Periamet SRO, is Rs 4,800 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class II Type - II land classification.

How the guideline value of Kandappa Lane has changed

The guideline value for Kandappa Lane has seen several revisions over the years. The earliest recorded value is from 2007, which was Rs 1,200 per sq.ft. This increased significantly to Rs 4,500 per sq.ft in 2012, representing a 275% rise. However, between 2012 and 2017, the value decreased to Rs 3,015 per sq.ft, marking a decline of 33%. Following this, the value rose to Rs 4,500 per sq.ft in 2023, a 49% increase from the previous revision. The latest revision in 2024 set the value at Rs 4,800 per sq.ft, reflecting a 7% increase from 2023.

There are no recorded figures for Kandappa Lane in the years 2002 and 2003. Overall, from 2007 to 2024, the guideline value has increased by 300%.

Guideline values in Vepery

In Vepery, there are 290 streets under the Periamet SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 22,000 per sq.ft, with the median value being Rs 4,800 per sq.ft. The guideline value for Kandappa Lane is equal to this median.

• Kandappa Mudali street: Rs 6,000 per sq.ft (2024)
• Kandappa street: Rs 6,000 per sq.ft (2024)
• Kanagarajan Mudaliar Thottam: Rs 2,700 per sq.ft (2024)
• Kannappan Thidal: Rs 6,000 per sq.ft (2024)
• Karinmedu Gandhi Nagar (Grey Nagar Pallam): Rs 2,700 per sq.ft (2024)
• Karpaga Mudali Street: Rs 6,000 per sq.ft (2024)

Stamp duty and registration fee for property in Kandappa Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 4,800 per sq.ft, the total guideline value amounts to Rs 48,00,000. The stamp duty at 7% would be Rs 3,36,000, and the registration fee at 2% would be Rs 96,000, bringing the total to Rs 4,32,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Kandappa Lane?

The Sub Registrar Office that covers Kandappa Lane is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Vepery. It serves as the basis for calculating stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property transactions.

When a buyer or seller engages in a property transaction, the guideline value helps determine the legal documentation required for the sale. It ensures transparency and standardization in property dealings within the region.

Frequently asked questions

What is the current guideline value of Kandappa Lane?

The current guideline value of Kandappa Lane is Rs 4,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2007 to Rs 4,800 per sq.ft in 2024, reflecting an overall increase of 300% over the years.

What is the land classification for Kandappa Lane?

Kandappa Lane falls under the Residential Class II Type - II land classification.

Where can I find the Sub Registrar Office for Kandappa Lane?

The Sub Registrar Office for Kandappa Lane is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003.

How is the stamp duty calculated for properties in Kandappa Lane?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a property valued at Rs 48,00,000 would incur a stamp duty of Rs 3,36,000 at a rate of 7%.