Guideline Value for Kandasamy Nagar

Kandasamy Nagar guideline value

The current guideline value of Kandasamy Nagar is Rs 880 per sq.ft, effective from 1 July 2024. This area is located in Grandlyon village under the Redhills SRO, classified as Residential Special Type - I.

How the guideline value of Kandasamy Nagar has changed

The guideline value for Kandasamy Nagar has seen several revisions over the years. Starting from Rs 65 per sq.ft in 2003, the value increased significantly to Rs 600 per sq.ft in 2007, followed by a rise to Rs 800 per sq.ft in 2012. However, it then decreased to Rs 536 per sq.ft in 2017. The most recent revisions show an increase to Rs 800 per sq.ft in 2023, and currently, it stands at Rs 880 per sq.ft from the 2024 revision.

Notably, the changes between the revisions include a remarkable increase of 823% from 2003 to 2007, a decrease of 33% from 2012 to 2017, and a 49% increase from 2017 to 2023. Overall, from 2003 to 2024, the guideline value has increased by 1254%. The register has no figure for Kandasamy Nagar for the year 2002.

Guideline values in Grandlyon

In Grandlyon village, there are 82 streets under the Redhills SRO that carry a 2024 guideline value ranging from Rs 440 to Rs 1,500 per sq.ft, with a median value of Rs 660 per sq.ft. Kandasamy Nagar's 2024 guideline value of Rs 880 per sq.ft is above this median.

• Kanaga Durga Nagar: Rs 440 per sq.ft (2024)
• Karalmarks Nagar: Rs 660 per sq.ft (2024)
• Karikal Cholan Salai: Rs 660 per sq.ft (2024)
• Karpagam Nagar: Rs 880 per sq.ft (2024)
• Karpagam Nagar Annex: Rs 880 per sq.ft (2024)
• Kamarajar Street: Rs 660 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 880 per sq.ft, the total guideline value amounts to Rs 8,80,000. The stamp duty at 7% would be Rs 61,600, and the registration fee at 2% would be Rs 17,600, bringing the total fees together to Rs 79,200. 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 Nagar?

Kandasamy Nagar falls under the jurisdiction of the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Grandlyon. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value helps ensure that the sale price is aligned with the government’s valuation, thereby preventing undervaluation. Buyers and sellers should be aware of the guideline value to accurately assess the costs involved in the property transaction.

Frequently asked questions

What is the current guideline value of Kandasamy Nagar?

The current guideline value of Kandasamy Nagar is Rs 880 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 65 per sq.ft in 2003 to Rs 880 per sq.ft in 2024, reflecting an overall increase of 1254% over this period.

What are the stamp duty and registration fees for properties in Kandasamy Nagar?

For a property valued at Rs 8,80,000, the stamp duty would be Rs 61,600 and the registration fee would be Rs 17,600, totaling Rs 79,200.

Which Sub Registrar Office covers Kandasamy Nagar?

Kandasamy Nagar is covered by the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

What is the significance of the guideline value when buying or selling property?

The guideline value is used to determine the stamp duty and registration fees during property transactions. It ensures that the sale price is consistent with the government’s valuation, helping to prevent undervaluation.