Guideline Value for Kandasamy Koil Colony Street

Kandasamy Koil Colony Street guideline value

The current guideline value of Kandasamy Koil Colony Street is Rs 1,900 per sq.ft, effective from 1 July 2024. This street is located in Erukancherry village and falls under the Madhavaram SRO. The land classification for this area is Residential Class V Type - I.

How the guideline value of Kandasamy Koil Colony Street has changed

The guideline value for Kandasamy Koil Colony Street has seen several revisions over the years. The 2012 revision set the value at Rs 1,800 per sq.ft, which was then reduced to Rs 1,206 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 1,800 per sq.ft, and the most recent 2024 revision has further raised it to Rs 1,900 per sq.ft. There are no figures available for the revisions in 2002, 2003, and 2007.

From the 2012 revision to the 2017 revision, there was a decrease of 33%. However, from 2017 to 2023, the value increased by 49%. The change from 2023 to 2024 reflects a 6% increase. Overall, from 2012 to 2024, the guideline value has increased by 6%.

Guideline values in Erukancherry

In Erukancherry, there are 376 streets under the Madhavaram SRO that carry a 2024 guideline value ranging from Rs 1,900 to Rs 3,800 per sq.ft. The median value for these streets is Rs 2,500 per sq.ft, which means that Kandasamy Koil Colony Street's 2024 figure is below that median.

• Kandasamy Koil Street: Rs 1,900 per sq.ft (2024)
• Kannabiran Koil Street: Rs 2,500 per sq.ft (2024)
• Kannagi Nagar: Rs 2,500 per sq.ft (2024)
• Kannaki Street: Rs 2,500 per sq.ft (2024)
• Kambar Street: Rs 2,500 per sq.ft (2024)
• Kamatchi Street: Rs 1,900 per sq.ft (2024)

Stamp duty and registration fee for property in Kandasamy Koil Colony Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,900 per sq.ft, the total guideline value would be Rs 19,00,000. The stamp duty at 7% would amount to Rs 1,33,000, and the registration fee at 2% would be Rs 38,000, totaling Rs 1,71,000. 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 details.

Which Sub Registrar Office covers Kandasamy Koil Colony Street?

The Kandasamy Koil Colony Street falls under the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of properties in Erukancherry. It is used to determine the stamp duty and registration fees that buyers must pay when acquiring a property. This value is essential for ensuring that the transaction is recorded accurately and in compliance with local regulations.

When selling a property, the guideline value helps in establishing a baseline for the sale price. It ensures that both buyers and sellers are aware of the official value assigned to the property, which can help facilitate a smoother transaction process.

Frequently asked questions

What is the current guideline value of Kandasamy Koil Colony Street?

The current guideline value of Kandasamy Koil Colony Street is Rs 1,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,800 per sq.ft in 2012 to Rs 1,206 per sq.ft in 2017, then back to Rs 1,800 per sq.ft in 2023, and finally to Rs 1,900 per sq.ft in 2024.

What is the land classification for Kandasamy Koil Colony Street?

Kandasamy Koil Colony Street is classified as Residential Class V Type - I.

Where is the Madhavaram Sub Registrar Office located?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

How is stamp duty calculated for properties in Kandasamy Koil Colony Street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot, the stamp duty would be Rs 1,33,000 based on the current guideline value.