Guideline Value for Kandhasamy Nagar

Kandhasamy Nagar guideline value

The current guideline value of Kandhasamy Nagar is Rs 1,000 per sq.ft, effective from 1 July 2024. This area is located in Vadaperumbakkam village under the Redhills SRO, classified as Residential Special Type - I.

How the guideline value of Kandhasamy Nagar has changed

Over the years, the guideline value for Kandhasamy Nagar has undergone several revisions. In 2003, the guideline value was Rs 35 per sq.ft, which increased significantly to Rs 600 per sq.ft in 2007. The value then rose to Rs 1,000 per sq.ft in 2012, followed by a decrease to Rs 670 per sq.ft in 2017. The most recent revisions in 2023 and 2024 have maintained the guideline value at Rs 1,000 per sq.ft. Notably, the register has no figure for the year 2002 for this street.

The changes between the revisions are as follows: from 2003 to 2007, there was a remarkable increase of 1,614%. The value then decreased by 33% from 2012 to 2017. However, there was a substantial increase of 49% from 2017 to 2023, and no change from 2023 to 2024.

Guideline values in Vadaperumbakkam

In Vadaperumbakkam, there are 77 streets under the Redhills SRO with a 2024 guideline value ranging from Rs 1,000 to Rs 1,300 per sq.ft. The median value for these streets is Rs 1,003 per sq.ft, placing Kandhasamy Nagar's 2024 figure below that median.

• Kanna Nagar: Rs 1,000 per sq.ft (2024)
• Kanniamman Nagar: Rs 1,000 per sq.ft (2024)
• Kanniamman Nagar Annex: Rs 1,003 per sq.ft (2024)
• Kanniamman Nagar Annex Part-1: Rs 1,003 per sq.ft (2024)
• Kanniamman Nagar Extn.: Rs 1,003 per sq.ft (2024)
• Jaya Nagar Extn - II: Rs 1,000 per sq.ft (2024)

Stamp duty and registration fee for property in Kandhasamy Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,000 per sq.ft, the total guideline value amounts to Rs 10,00,000. The stamp duty at 7% would be Rs 70,000, and the registration fee at 2% would be Rs 20,000, making the total costs together Rs 90,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kandhasamy Nagar?

Kandhasamy Nagar falls under the jurisdiction of the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Vadaperumbakkam. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must be aware that the guideline value may differ from the actual sale price.

When registering a property, the stamp duty and registration fees are calculated based on the higher of the guideline value or the sale price. This ensures that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Kandhasamy Nagar?

The current guideline value of Kandhasamy Nagar is Rs 1,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 35 per sq.ft in 2003 to Rs 1,000 per sq.ft in 2024, with various revisions in between, including a decrease and increases across different years.

What is the registration office for Kandhasamy Nagar?

The Redhills Sub Registrar Office covers Kandhasamy Nagar, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

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

For a property valued at Rs 10,00,000, the stamp duty would be Rs 70,000, and the registration fee would be Rs 20,000, totaling Rs 90,000. These fees are based on the guideline value or the sale price, whichever is higher.

How does the guideline value affect property transactions?

The guideline value is used to determine the minimum registration value for property transactions. It influences the calculation of stamp duty and registration fees, which are based on the higher of the guideline value or the sale price.