Guideline Value for Kannadapalayam Road

Kannadapalayam Road guideline value

The current guideline value of Kannadapalayam Road is Rs 3,300 per sq.ft, effective from 1 July 2024. This road is located in Tambaram village under the Tambaram Joint 1 SRO, classified as Residential Class I Type - I.

How the guideline value of Kannadapalayam Road has changed

The guideline value for Kannadapalayam Road has undergone several revisions over the years. The most recent revision in 2024 set the value at Rs 3,300 per sq.ft, which is a 10% increase from Rs 3,000 per sq.ft in 2023. Prior to that, the value was Rs 2,010 per sq.ft in 2017, reflecting a significant increase of 49% from the previous rate.

In 2012, the guideline value was Rs 3,000 per sq.ft, which marked a decrease of 33% from the 2017 figure. Overall, from 2012 to 2024, the guideline value has increased by 10%. It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 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 Road.

• Kannadapalayam South St: Rs 3,300 per sq.ft (2024)
• Kannadapalayam North St: Rs 3,300 per sq.ft (2024)
• Kannadapalayam Melandai 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 Road

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. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kannadapalayam Road?

The Sub Registrar Office that covers Kannadapalayam Road 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 critical factor when registering property transactions in Tambaram. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the sale or purchase of property.

When you buy or sell property, the guideline value ensures that the transaction is recorded at a fair value, preventing undervaluation. This value is utilized by the registration authorities to calculate the applicable duties and fees, which are essential for the legal transfer of property ownership.

Frequently asked questions

What is the current guideline value of Kannadapalayam Road?

The current guideline value of Kannadapalayam Road 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 seen several revisions, with the most recent being Rs 3,300 per sq.ft in 2024, up from Rs 3,000 per sq.ft in 2023. The value was Rs 2,010 per sq.ft in 2017, and Rs 3,000 per sq.ft in 2012.

What are the stamp duty rates for property in Kannadapalayam Road?

The stamp duty for property in Kannadapalayam Road is charged at 7% of the guideline value or sale price, whichever is higher. For example, on a guideline value of Rs 33,00,000, the stamp duty would be Rs 2,31,000.

Where can I find the Sub Registrar Office for Kannadapalayam Road?

The Sub Registrar Office for Kannadapalayam Road is the Tambaram Joint 1 Sub Registrar Office, located at No.26, MES Road, East Tambaram, Chennai-600059.

What is the land classification for Kannadapalayam Road?

Kannadapalayam Road is classified as Residential Class I Type - I, indicating its suitability for residential purposes.