Guideline Value for Kannadasan Nagar

Kannadasan Nagar guideline value

The current guideline value of Kannadasan Nagar is Rs 990 per sq.ft, effective from the 2024 revision. This area is located in Varadarajapuram village and falls under the Padappai SRO. The land classification for this street is Residential Class III Type - I.

How the guideline value of Kannadasan Nagar has changed

The guideline value for Kannadasan Nagar has seen several revisions over the years. In 2007, the value was Rs 120 per sq.ft, which increased significantly to Rs 900 per sq.ft in 2012. However, there was a decrease to Rs 603 per sq.ft in 2017. The subsequent revision in 2023 brought the value back up to Rs 900 per sq.ft, and the latest revision in 2024 has set the guideline value at Rs 990 per sq.ft, marking a 10% increase from the previous year.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 725%. Notably, there are no figures available in the register for the years 2002 and 2003 for this street.

Guideline values in Varadarajapuram

In Varadarajapuram, there are 250 streets under the Padappai SRO that carry a 2024 guideline value ranging from Rs 880 to Rs 4,100 per sq.ft, with a median value of Rs 1,650 per sq.ft. The guideline value of Kannadasan Nagar is below this median.

• Kanagavalli Nagar: Rs 990 per sq.ft (2024)
• Kamatchi Amman Nagar: Rs 1,650 per sq.ft (2024)
• Karthiga Nagar: Rs 1,650 per sq.ft (2024)
• Kalpataru Guru Ganesh Avenue Phase-I: Rs 2,480 per sq.ft (2024)
• Kalaam Nagar: Rs 990 per sq.ft (2024)
• Kensis Shakthi Nagar: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Kannadasan Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 990 per sq.ft, the total guideline value would be Rs 9,90,000. The stamp duty at 7% would amount to Rs 69,300, and the registration fee at 2% would be Rs 19,800, totaling Rs 89,100. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kannadasan Nagar?

The Sub Registrar Office that covers Kannadasan Nagar is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Varadarajapuram. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is registered, the guideline value is considered to ensure that the appropriate taxes are collected based on the value of the property. This ensures transparency and compliance with local regulations.

Frequently asked questions

What is the current guideline value of Kannadasan Nagar?

The current guideline value of Kannadasan Nagar is Rs 990 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 120 per sq.ft in 2007 to Rs 990 per sq.ft in 2024, reflecting an overall increase of 725% over the years.

What is the land classification of Kannadasan Nagar?

Kannadasan Nagar is classified as Residential Class III Type - I, indicating its designation for residential purposes.

Where can I find the Sub Registrar Office for Kannadasan Nagar?

The Sub Registrar Office for Kannadasan Nagar is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

How is the stamp duty calculated for properties in Kannadasan Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at Rs 990 per sq.ft incurs a total guideline value of Rs 9,90,000, leading to a stamp duty of Rs 69,300.