Guideline Value for Kannadapalayam South St

Kannadapalayam South St guideline value

The current guideline value of Kannadapalayam South 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 South St has changed

The guideline value for Kannadapalayam South St has seen several revisions over the years. In 2007, the guideline value was Rs 600 per sq.ft, which increased significantly to Rs 3,000 per sq.ft in 2012, marking a 400% rise. However, it then decreased to Rs 2,010 per sq.ft in 2017, a drop of 33%. The value rose again to Rs 3,000 per sq.ft in 2023, and now stands at Rs 3,300 per sq.ft in 2024, reflecting a 10% increase from the previous year.

There are no figures available for the revisions in 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 450%.

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 is equal to the guideline value of Kannadapalayam South St.

• Kannadapalayam Road: 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 South St

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be 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, making the total cost Rs 2,97,000. It is important to note that the stamp 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 information.

Which Sub Registrar Office covers Kannadapalayam South St?

The Kannadapalayam South St falls under 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 further assistance.

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

The guideline value is a critical factor in the registration process for property transactions in Tambaram. It serves as a benchmark for determining the minimum price at which a property can be registered, ensuring transparency and fairness in property dealings.

When buying or selling property, the guideline value influences the stamp duty and registration fees, which are calculated based on this value or the sale price, whichever is higher. This ensures that all transactions are in line with the established rates set by the Registration Department.

Frequently asked questions

What is the current guideline value of Kannadapalayam South St?

The current guideline value of Kannadapalayam South 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 several times, starting from Rs 600 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 450% from 2007 to 2024.

Where can I find the registration office for Kannadapalayam South St?

The registration office for Kannadapalayam South St is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059.

What are the stamp duty and registration fees for properties here?

For a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 and the registration fee would be Rs 66,000, totaling Rs 2,97,000.

How is the guideline value determined?

The guideline value is determined by the Registration Department and varies by location, reflecting the market conditions and land classification. It is updated periodically to ensure it remains relevant to current property trends.