Guideline Value for Kannadapalayam Melandai St

Kannadapalayam Melandai St guideline value

The current guideline value of Kannadapalayam Melandai St is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Tambaram village and falls under the Tambaram Joint 1 SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Kannadapalayam Melandai St has changed

The guideline value for Kannadapalayam Melandai St has seen several revisions over the years. In 2007, the value was Rs 600 per sq.ft, which increased significantly to Rs 3,000 per sq.ft by 2012. However, it dropped to Rs 2,010 per sq.ft in 2017 before rising again to Rs 3,000 per sq.ft in 2023. The current revision in 2024 has set the value at Rs 3,300 per sq.ft, marking a 10% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 450%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Tambaram

In Tambaram, there are 360 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value ranging from Rs 880 to Rs 8,250 per sq.ft. The median value is Rs 3,300 per sq.ft, which aligns with the current value of Kannadapalayam Melandai St.

• Kannadapalayam North St: Rs 3,300 per sq.ft (2024)
• Kannadapalayam Road: Rs 3,300 per sq.ft (2024)
• Kannadapalayam South St: Rs 3,300 per sq.ft (2024)
• Kamatchi Rao Street: Rs 4,400 per sq.ft (2024)
• Kannan Nagar: Rs 2,200 per sq.ft (2024)
• Kanniamman St: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Kannadapalayam Melandai St

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. 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 Kannadapalayam Melandai St?

The Sub Registrar Office that covers Kannadapalayam Melandai St is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more information.

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

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

When a property is registered, the guideline value is used to calculate the applicable fees, ensuring that both the buyer and seller are aware of the financial obligations involved in the transaction. This process helps maintain transparency and standardization in property dealings.

Frequently asked questions

What is the current guideline value of Kannadapalayam Melandai St?

The current guideline value of Kannadapalayam Melandai St is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, marking a total increase of 450% over this period.

What are the stamp duty and registration fees for properties in this area?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a property valued at Rs 33,00,000, the total fees would amount to Rs 2,97,000.

Which office handles property registrations for Kannadapalayam Melandai St?

The Tambaram Joint 1 Sub Registrar Office is responsible for property registrations in Kannadapalayam Melandai St, located at No.26, Mes Road, East Tambaram, Chennai-600059.

What is the land classification for Kannadapalayam Melandai St?

The land classification for Kannadapalayam Melandai St is Residential Class I Type - I, indicating its suitability for residential development.