Guideline Value for Kannadasan Nagar 3st Street

Kannadasan Nagar 3st Street guideline value

The current guideline value of Kannadasan Nagar 3st 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 3st Street has changed

The guideline value for Kannadasan Nagar 3st Street has seen several revisions over the years. The 2012 revision set the value at Rs 2,800 per sq.ft, which was reduced to Rs 1,876 per sq.ft in the 2017 revision, marking a decrease of 33%. However, this value significantly increased to Rs 2,800 per sq.ft in the 2023 revision, followed by a further rise to Rs 3,100 per sq.ft in the 2024 revision, reflecting an increase of 11% from the previous year.

From the 2017 revision to 2023, the value increased by 49%. When comparing the overall change from 2012 to 2024, the guideline value has increased by 11%. It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street.

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 guideline value for these streets is Rs 3,100 per sq.ft, which is equal to the current guideline value of Kannadasan Nagar 3st Street.

• Kannadasan Nagar 2st Street: Rs 3,100 per sq.ft (2024)
• Kannadasan Nagar 4st Street: Rs 3,100 per sq.ft (2024)
• Kannadasan Nagar 1st 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 3st 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 guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Kannadasan Nagar 3st Street?

The Sub Registrar Office that covers Kannadasan Nagar 3st 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. You can find your SRO for further assistance.

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

The guideline value is a crucial factor when buying or selling property in Ramapuram. It serves as a reference point for determining the stamp duty and registration fees applicable during the registration process. Buyers and sellers must consider this value to ensure compliance with legal requirements and to calculate the costs involved in the transaction.

When a property is registered, the guideline value is used to assess the applicable duties. This means that the higher of the guideline value and the sale price will be taken into account, ensuring that the registration reflects the true value of the property being transferred.

Frequently asked questions

What is the current guideline value of Kannadasan Nagar 3st Street?

The current guideline value of Kannadasan Nagar 3st 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 back 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 3st Street?

Kannadasan Nagar 3st Street is classified as Residential Class II Type - I.

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

The Sub Registrar Office for Kannadasan Nagar 3st Street is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.

How is stamp duty calculated for properties in Ramapuram?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. It is typically charged at 7%, with an additional registration fee of 2% on the guideline value.