Guideline Value for Kannadasan Avenue

Kannadasan Avenue guideline value

The current guideline value of Kannadasan Avenue, located in Madambakkam village under the Selaiyur SRO, is Rs 1,600 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class II Type - I land classification.

How the guideline value of Kannadasan Avenue has changed

In the 2012 revision, the guideline value was Rs 1,500 per sq.ft. This figure remained unchanged in the 2023 revision, where it was still Rs 1,500 per sq.ft. The most recent revision in 2024 saw an increase to Rs 1,600 per sq.ft, marking a 7% rise from the previous year. The register has no figures for the years 2002, 2003, 2007, and 2017 for this street.

Overall, from 2012 to 2024, the guideline value has increased by 7%. The 2023 to 2024 revision reflects a notable change of 7%, indicating a shift in the valuation for this street.

Guideline values in Madambakkam

In Madambakkam, there are 1,151 streets under the Selaiyur SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 6,000 per sq.ft. The median guideline value in the village is Rs 2,400 per sq.ft, placing the guideline value of Kannadasan Avenue below this median.

• Kannadasan Street: Rs 1,600 per sq.ft (2024)
• Kannagi Street: Rs 3,800 per sq.ft (2024)
• Kamatchi Nagar Main Road: Rs 1,300 per sq.ft (2024)
• Kamatchi Nagar Cross Street: Rs 1,300 per sq.ft (2024)
• Kamatchi Nagar 2nd Street: Rs 1,300 per sq.ft (2024)
• Kamatchi Nagar 1st Street: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Kannadasan Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 1,600 per sq.ft, the total guideline value would be Rs 16,00,000. The stamp duty at 7% would amount to Rs 1,12,000, while the registration fee at 2% would be Rs 32,000, bringing the total to Rs 1,44,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kannadasan Avenue?

The Sub Registrar Office that covers Kannadasan Avenue is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, 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 Madambakkam

The guideline value plays a crucial role during property registration in Madambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the state receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value is used to calculate the applicable duties and fees. It is essential for both buyers and sellers to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Kannadasan Avenue?

The current guideline value of Kannadasan Avenue is Rs 1,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since the 2012 revision, the guideline value has remained at Rs 1,500 per sq.ft until the 2024 revision, which increased it to Rs 1,600 per sq.ft. This reflects a 7% increase from the previous year.

What is the land classification of Kannadasan Avenue?

Kannadasan Avenue falls under the Residential Class II Type - I land classification, indicating its suitability for residential development.

What are the guideline values of other streets in Madambakkam?

Other streets in Madambakkam have varying guideline values, with Kannadasan Street also at Rs 1,600 per sq.ft, while Kannagi Street is higher at Rs 3,800 per sq.ft. Other streets like Kamatchi Nagar Main Road and its cross streets are valued at Rs 1,300 per sq.ft.

How are stamp duty and registration fees calculated?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher, while the registration fee is charged at 2%. For example, a 1,000 sq.ft plot at the current guideline value would incur a total of Rs 1,44,000 in duties and fees.