Guideline Value for Kandaswamy nagar

Kandaswamy nagar guideline value

The current guideline value of Kandaswamy nagar, located in Poonthamallee village under the Poonamallee SRO, is Rs 2,200 per sq.ft. This value is effective from 1 July 2024 and falls under the Residential Class II Type - I land classification.

How the guideline value of Kandaswamy nagar has changed

The guideline value for Kandaswamy nagar has seen several revisions over the years. The earliest recorded revision was in 2007, when the value was Rs 900 per sq.ft. This increased significantly to Rs 2,000 per sq.ft in 2012, marking a 122% rise. However, the value then decreased to Rs 1,340 per sq.ft in 2017, a drop of 33%. From 2017 to 2023, the value surged by 49% to reach Rs 2,000 per sq.ft, and the most recent revision in 2024 set the value at Rs 2,200 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that the register has no figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 144%.

Guideline values in Poonthamallee

Poonthamallee village has a total of 257 streets under the Poonamallee SRO that carry a 2024 guideline value ranging from Rs 1,980 to Rs 4,950 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, which matches the current guideline value for Kandaswamy nagar.

• Kandaswamy nagar exten: Rs 2,200 per sq.ft (2024)
• Kannampulli chetti street north: Rs 2,200 per sq.ft (2024)
• Kannampulli chetti street south: Rs 2,200 per sq.ft (2024)
• Kannampulli chetti street west: Rs 2,200 per sq.ft (2024)
• Kantharupan nagar: Rs 2,200 per sq.ft (2024)
• Karaiyanchavadi street (west): Rs 3,250 per sq.ft (2024)

Stamp duty and registration fee for property in Kandaswamy nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total cost for these fees to Rs 1,98,000. 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 Kandaswamy nagar?

The Kandaswamy nagar area is covered by the Poonamallee Sub Registrar Office, located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056. For more information, you can find your SRO.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Poonthamallee. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable stamp duty and registration fees. This ensures that both buyers and sellers are aware of the minimum financial obligations involved in the transaction.

Frequently asked questions

What is the current guideline value of Kandaswamy nagar?

The current guideline value of Kandaswamy nagar is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 900 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 144% over the years.

What is the role of the Poonamallee SRO?

The Poonamallee SRO is responsible for the registration of property transactions in the area, including the assessment of guideline values for various streets, including Kandaswamy nagar.

How is stamp duty calculated in Kandaswamy nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For Kandaswamy nagar, the current guideline value is used for this calculation.

Where can I find more information about the registration process?

More information about the registration process and related fees can be found at the Poonamallee Sub Registrar Office or through the find your SRO link.