Guideline Value for Kandaswamy Road

Kandaswamy Road guideline value

The current guideline value of Kandaswamy Road in Porunthavakkam village is Rs 2,420 per sq.ft, effective from 1 July 2024. This street falls under the Pallavaram SRO and is classified as Residential Class I Type - III.

How the guideline value of Kandaswamy Road has changed

The guideline value for Kandaswamy Road has seen several revisions over the years. Starting from Rs 332 per sq.ft in 2003, it increased to Rs 400 per sq.ft in 2007, followed by a significant jump to Rs 2,200 per sq.ft in 2012. However, in 2017, it decreased to Rs 1,474 per sq.ft, before rising again to Rs 2,200 per sq.ft in 2023. The latest revision in 2024 set the value at Rs 2,420 per sq.ft, marking a 10% increase from the previous year.

Overall, from 2003 to 2024, the guideline value has increased by 629%. The register has no figure for Kandaswamy Road in 2002.

Guideline values in Porunthavakkam

In Porunthavakkam, there are 23 streets under the Pallavaram SRO with a 2024 guideline value ranging from Rs 1,760 to Rs 4,950 per sq.ft. The median value is Rs 2,420 per sq.ft, which is the same as the guideline value for Kandaswamy Road.

• Kamaraj Street: Rs 2,420 per sq.ft (2024)
• Kalyaniyammal Street: Rs 2,420 per sq.ft (2024)
• Kalyani Street: Rs 2,420 per sq.ft (2024)
• Kalaivani Street: Rs 2,420 per sq.ft (2024)
• Jemes Street: Rs 2,420 per sq.ft (2024)
• Iyapa Nagar: Rs 1,760 per sq.ft (2024)

Stamp duty and registration fee for property in Kandaswamy Road

For a 1,000 sq.ft plot at the current guideline value of Rs 2,420 per sq.ft, the total guideline value would be Rs 24,20,000. The stamp duty at 7% would amount to Rs 1,69,400, and the registration fee at 2% would be Rs 48,400, making the total cost for these fees Rs 2,17,800. It is important to note that 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 Kandaswamy Road?

The Kandaswamy Road is covered by the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Porunthavakkam. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these costs are based on a standardized value set by the government.

When a property is sold, the final sale price will be compared to the guideline value. The higher of the two will be used to determine the applicable stamp duty and registration fees, ensuring compliance with legal requirements.

Frequently asked questions

What is the current guideline value of Kandaswamy Road?

The current guideline value of Kandaswamy Road is Rs 2,420 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since 2003, the guideline value has increased from Rs 332 per sq.ft to Rs 2,420 per sq.ft in 2024, representing a total increase of 629% over this period.

What is the registration fee for property in Kandaswamy Road?

The registration fee is calculated based on the guideline value or the sale price, whichever is higher. For a property valued at Rs 24,20,000, the registration fee would be Rs 48,400 at a rate of 2%.

Which office handles property registrations for Kandaswamy Road?

The Pallavaram Sub Registrar Office handles property registrations for Kandaswamy Road, located at 7th Main Road, New Colony, Chromepet, Chennai-600044.

How is the guideline value determined?

The guideline value is determined by the Registration Department and is revised periodically. It reflects the standard value of properties in a particular area, which is used for calculating stamp duty and registration fees during property transactions.