Guideline Value for Kandasamy Nagar

Kandasamy Nagar guideline value

The current guideline value for Kandasamy Nagar, located in Moonramkattalai village under the Kunrathur SRO, is Rs 650 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class I Type - I land classification.

How the guideline value of Kandasamy Nagar has changed

The guideline value for Kandasamy Nagar has undergone several revisions over the years. The earliest available figure is from 2012, where the value was Rs 600 per sq.ft. This was followed by a decrease to Rs 402 per sq.ft in 2017. The value then increased significantly to Rs 600 per sq.ft in 2023, before reaching the current value of Rs 650 per sq.ft in 2024, marking an 8% increase from the previous year.

From 2017 to 2023, there was a notable increase of 49%. Overall, from 2012 to 2024, the guideline value has increased by 8%. It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for this street.

Guideline values in Moonramkattalai

In Moonramkattalai, there are 43 streets under the Kunrathur SRO that carry a 2024 guideline value ranging from Rs 650 to Rs 2,750 per sq.ft, with the median being Rs 650 per sq.ft. Kandasamy Nagar's 2024 figure is equal to this median.

• Kamarajar Nagar: Rs 650 per sq.ft (2024)
• Kalvai Street (Kalvai karai Street): Rs 650 per sq.ft (2024)
• Kundrathur Road: Rs 1,350 per sq.ft (2024)
• K.V. Road: Rs 650 per sq.ft (2024)
• Lakshmi Nagar: Rs 1,000 per sq.ft (2024)
• Ganesh Nagar: Rs 1,000 per sq.ft (2024)

Stamp duty and registration fee for property in Kandasamy Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 650 per sq.ft, the total guideline value amounts to Rs 6,50,000. The stamp duty at 7% would be Rs 45,500, and the registration fee at 2% would be Rs 13,000, bringing the total to Rs 58,500. 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 Kandasamy Nagar?

Kandasamy Nagar falls under the jurisdiction of the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

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

The guideline value is an essential factor in the registration process when buying or selling property in Moonramkattalai. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these costs are based on the official valuation of the property.

When engaging in property transactions, it is important to be aware that the guideline value may differ from the actual sale price. The higher value between the two will be used to calculate the applicable duties and fees, ensuring compliance with local regulations.

Frequently asked questions

What is the current guideline value of Kandasamy Nagar?

The current guideline value of Kandasamy Nagar is Rs 650 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 600 per sq.ft in 2012, decreasing to Rs 402 per sq.ft in 2017, and increasing to Rs 600 per sq.ft in 2023, before reaching Rs 650 per sq.ft in 2024.

What is the land classification for Kandasamy Nagar?

Kandasamy Nagar is classified as Residential Class I Type - I, indicating its designation for residential development.

Where is the Kunrathur Sub Registrar Office located?

The Kunrathur Sub Registrar Office is located at No.59, Road Street, Kundrathur, Chennai -600 069.

How is the stamp duty calculated for properties in Kandasamy Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a 1,000 sq.ft plot at the guideline value of Rs 650 per sq.ft, the total guideline value would be Rs 6,50,000, leading to a stamp duty of Rs 45,500.