Guideline Value for Kandappa street

Kandappa street guideline value

The current guideline value of Kandappa street is Rs 3,800 per sq.ft, effective from 1 July 2024. This street is located in Muthialpet village and falls under the Chennai North Joint I SRO. The land classification for this area is Residential Class III Type - II.

How the guideline value of Kandappa street has changed

The guideline value for Kandappa street has undergone several revisions over the years. In 2007, the value was Rs 1,200 per sq.ft, which increased significantly to Rs 3,500 per sq.ft in 2012. However, this figure saw a decrease to Rs 2,345 per sq.ft in 2017. From 2017 to 2023, the value rose sharply to Rs 3,500 per sq.ft, and the most recent revision in 2024 set the value at Rs 3,800 per sq.ft, marking a 9% increase from the previous year.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 217%. Notably, there are no figures available for Kandappa street in the 2002 and 2003 revisions.

Guideline values in Muthialpet

In Muthialpet, there are 160 streets under the Chennai North Joint I SRO that carry a 2024 guideline value ranging from Rs 3,800 to Rs 18,000 per sq.ft, with a median value of Rs 5,500 per sq.ft. The guideline value of Kandappa street is below this median.

• Kannappan street: Rs 7,100 per sq.ft (2024)
• Katchaleeswarar 1st lane: Rs 3,800 per sq.ft (2024)
• Katchaleeswarar 2nd lane: Rs 3,800 per sq.ft (2024)
• Katchaleeswarar 3rd lane: Rs 3,800 per sq.ft (2024)
• Katchaleeswarar Agraharam street: Rs 4,900 per sq.ft (2024)
• Katchaleeswarar Garden street: Rs 4,900 per sq.ft (2024)

Stamp duty and registration fee for property in Kandappa street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,800 per sq.ft, the total guideline value would be Rs 38,00,000. The stamp duty at 7% would amount to Rs 2,66,000, and the registration fee at 2% would be Rs 76,000, bringing the total to Rs 3,42,000. It is important to note that duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Kandappa street?

The Sub Registrar Office that covers Kandappa street is the Chennai North Joint I Sub Registrar Office, located at Nsc Bose Road, Kuralagam First Floor, Esplaned Street, Chennai-105. To find your specific SRO, you can visit find your SRO.

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

The guideline value is a crucial factor when buying or selling property in Muthialpet. It serves as a benchmark for determining the minimum value at which a property can be registered. When a property transaction occurs, the registration office uses the guideline value to calculate the applicable stamp duty and registration fees.

Additionally, the guideline value ensures transparency in property transactions and helps in preventing undervaluation. Buyers and sellers should be aware of the current guideline value to ensure compliance with legal requirements during the registration process.

Frequently asked questions

What is the current guideline value of Kandappa street?

The current guideline value of Kandappa street is Rs 3,800 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 3,800 per sq.ft in 2024, reflecting an overall increase of 217% over the years.

What is the land classification for Kandappa street?

Kandappa street is classified as Residential Class III Type - II under the Chennai North Joint I SRO.

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

The Sub Registrar Office for Kandappa street is the Chennai North Joint I Sub Registrar Office, located at Nsc Bose Road, Kuralagam First Floor, Esplaned Street, Chennai-105.

How is the stamp duty calculated for property in Kandappa street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 38,00,000, the stamp duty at 7% would be Rs 2,66,000.