Guideline Value for Kandasamy Koil Street

Kandasamy Koil Street guideline value

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

How the guideline value of Kandasamy Koil Street has changed

The guideline value for Kandasamy Koil 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 value increased significantly to Rs 1,800 per sq.ft in 2023, and then to Rs 1,900 per sq.ft in 2024, marking a 6% increase from the previous year.

From the 2017 revision to 2023, the guideline value increased by 49%. Overall, from 2012 to 2024, there has been a 6% increase. The register has no figures for the revisions in 2002, 2003, and 2007 for this street.

Guideline values in Erukancherry

Within Erukancherry village, 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, with a median value of Rs 2,500 per sq.ft. Kandasamy Koil Street's 2024 guideline value is below this median.

• Kandasamy Koil Colony 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 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, bringing the total to Rs 1,71,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kandasamy Koil Street?

The Kandasamy Koil Street is covered by the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. To find your SRO, you can visit find your SRO.

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

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

When buying or selling property, the guideline value helps both buyers and sellers understand the official value of the property, which can influence negotiations and final sale prices. It is essential for all parties involved to be aware of the current guideline value to ensure compliance with local regulations.

Frequently asked questions

What is the current guideline value of Kandasamy Koil Street?

The current guideline value of Kandasamy Koil 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 increased 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 Street?

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

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

For a property valued at Rs 19,00,000, the stamp duty would be Rs 1,33,000 and the registration fee would be Rs 38,000, totaling Rs 1,71,000.

Where can I find the Sub Registrar Office for Kandasamy Koil Street?

The Madhavaram Sub Registrar Office, which covers Kandasamy Koil Street, is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.