Guideline Value for Kannadasan Nagar 2st Street

Kannadasan Nagar 2st Street guideline value

The current guideline value of Kannadasan Nagar 2st Street is Rs 3,100 per sq.ft, effective from 1 July 2024. This street is located in Ramapuram village and falls under the Chennai South Joint II SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Kannadasan Nagar 2st Street has changed

Over the years, the guideline value of Kannadasan Nagar 2st Street has seen several revisions. The 2012 revision set the value at Rs 2,800 per sq.ft, which then changed to Rs 1,876 per sq.ft in 2017, marking a decrease of 33%. However, from 2017 to 2023, the value increased significantly to Rs 2,800 per sq.ft, and in the latest 2024 revision, it rose again to Rs 3,100 per sq.ft, reflecting an 11% increase from the previous year.

The register has no figure for the years 2002, 2003, and 2007 for this street. The overall change from the 2012 revision to the 2024 revision shows a net increase of 11%.

Guideline values in Ramapuram

In Ramapuram, there are 394 streets under the Chennai South Joint II SRO that carry a 2024 guideline value ranging from Rs 1,950 to Rs 6,600 per sq.ft. The median value for these streets is Rs 3,100 per sq.ft, which is equal to the 2024 figure for Kannadasan Nagar 2st Street.

• Kannadasan Nagar 1st Street: Rs 3,100 per sq.ft (2024)
• Kannadasan Nagar 3st Street: Rs 3,100 per sq.ft (2024)
• Kannadasan Nagar 4st Street: Rs 3,100 per sq.ft (2024)
• Kannadasan Nagar 5st Street: Rs 3,100 per sq.ft (2024)
• Kannadasan Nagar 6st Street: Rs 3,100 per sq.ft (2024)
• Kannadasan Street: Rs 3,100 per sq.ft (2024)

Stamp duty and registration fee for property in Kannadasan Nagar 2st Street

For a 1,000 sq.ft plot at the current rate of Rs 3,100 per sq.ft, the guideline value amounts to Rs 31,00,000. The stamp duty at 7% would be Rs 2,17,000, and the registration fee at 2% would be Rs 62,000, totaling Rs 2,79,000. 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 accurate calculations.

Which Sub Registrar Office covers Kannadasan Nagar 2st Street?

The Sub Registrar Office that covers Kannadasan Nagar 2st Street is the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, fanepet Nandanam, Chennai -600 035, Chennai registration zone.

To find your SRO, visit find your SRO.

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

The guideline value is a crucial factor in the registration process of property transactions in Ramapuram. It serves as the minimum value on which stamp duty and registration fees are calculated, ensuring that the government receives the appropriate revenue from property sales.

When you buy or sell property, the guideline value helps determine the financial obligations involved in the transaction. It is essential for both buyers and sellers to understand this value to ensure compliance with local regulations and to accurately assess the costs associated with property transfer.

Frequently asked questions

What is the current guideline value of Kannadasan Nagar 2st Street?

The current guideline value of Kannadasan Nagar 2st Street is Rs 3,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,800 per sq.ft in 2012 to Rs 1,876 per sq.ft in 2017, then to Rs 2,800 per sq.ft in 2023, and finally to Rs 3,100 per sq.ft in 2024.

What is the land classification for Kannadasan Nagar 2st Street?

The land classification for Kannadasan Nagar 2st Street is Residential Class II Type - I.

Where can I find the Sub Registrar Office for this area?

The Sub Registrar Office for Kannadasan Nagar 2st Street is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, fanepet Nandanam, Chennai -600 035, Chennai registration zone.

How is the stamp duty calculated for property transactions?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 31,00,000, the stamp duty would be Rs 2,17,000 at a rate of 7%.