Guideline Value for Kannadasan Nagar 4st Street

Kannadasan Nagar 4st Street guideline value

The current guideline value of Kannadasan Nagar 4st 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, classified as Residential Class II Type - I.

How the guideline value of Kannadasan Nagar 4st Street has changed

The guideline value for Kannadasan Nagar 4st Street has seen several revisions over the years. The 2012 revision set the value at Rs 2,800 per sq.ft, which was later reduced to Rs 1,876 per sq.ft in the 2017 revision. However, from 2017 to 2023, the value increased significantly to Rs 2,800 per sq.ft, marking a 49% rise. The latest revision in 2024 has further increased the guideline value to Rs 3,100 per sq.ft, reflecting an 11% increase from the previous year.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for this street. Overall, from 2012 to 2024, the guideline value has increased by 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 is Rs 3,100 per sq.ft, which is the same as the 2024 guideline value for Kannadasan Nagar 4st Street.

• Kannadasan Nagar 3st Street: Rs 3,100 per sq.ft (2024)
• Kannadasan Nagar 5st Street: Rs 3,100 per sq.ft (2024)
• Kannadasan Nagar 2st Street: Rs 3,100 per sq.ft (2024)
• Kannadasan Nagar 6st Street: Rs 3,100 per sq.ft (2024)
• Kannadasan Nagar 1st 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 4st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,100 per sq.ft, the total 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, bringing the total fees together to 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 also use our stamp duty and registration fee calculator for accurate calculations.

Which Sub Registrar Office covers Kannadasan Nagar 4st Street?

The Kannadasan Nagar 4st Street falls under 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 more information.

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

The guideline value is a crucial factor when registering property transactions in Ramapuram. It serves as a benchmark for determining the stamp duty and registration fees that buyers and sellers must pay during the registration process.

When a property is sold, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Kannadasan Nagar 4st Street?

The current guideline value of Kannadasan Nagar 4st 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 4st Street?

Kannadasan Nagar 4st Street is classified as Residential Class II Type - I.

What are the other streets in Ramapuram with the same guideline value?

Other streets in Ramapuram that share the same guideline value of Rs 3,100 per sq.ft include Kannadasan Nagar 1st Street, 2nd Street, 3rd Street, 5th Street, 6th Street, and Kannadasan Street.

Where can I calculate stamp duty and registration fees?

You can calculate stamp duty and registration fees using our stamp duty and registration fee calculator.