Guideline Value for Kannadapalayam North St

Kannadapalayam North St guideline value

The current guideline value of Kannadapalayam North 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 North St has changed

The guideline value for Kannadapalayam North St has seen several revisions over the years. The 2007 revision set the value at Rs 600 per sq.ft, which increased significantly to Rs 3,000 per sq.ft in 2012. However, there was a decrease to Rs 2,010 per sq.ft in 2017. The 2023 revision brought the value back up to Rs 3,000 per sq.ft, and the latest revision in 2024 has increased it further to Rs 3,300 per sq.ft, marking a 10% increase from the previous year.

From 2017 to 2023, the guideline value increased by 49%. The jump from 2007 to 2012 saw a remarkable increase of 400%, while the overall change from 2007 to 2024 is a substantial increase of 450%. The register does not have 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 guideline value is Rs 3,300 per sq.ft, which is the same as the current value for Kannadapalayam North St.

• Kannadapalayam Melandai 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 North St

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value is 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 fees together 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 further calculations.

Which Sub Registrar Office covers Kannadapalayam North St?

The Sub Registrar Office that covers Kannadapalayam North 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 in the registration of property transactions in Tambaram. 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 buying or selling property, the guideline value helps both parties understand the official value of the property. It is essential for buyers to be aware of this value to ensure compliance with legal requirements and avoid any potential issues during the registration process.

Frequently asked questions

What is the current guideline value of Kannadapalayam North St?

The current guideline value of Kannadapalayam North 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, representing an overall increase of 450% over the years.

What are the stamp duty and registration fees for property in Kannadapalayam North St?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total fees would amount to Rs 2,97,000.

Which Sub Registrar Office covers this area?

The Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, covers Kannadapalayam North St.

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

The guideline value is used as a minimum benchmark for property registration. It ensures that the government receives the appropriate revenue through stamp duty and registration fees during property transactions.