Guideline Value for Kannadasan Street Ext

Kannadasan Street Ext guideline value

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

How the guideline value of Kannadasan Street Ext has changed

The guideline value for Kannadasan Street Ext has seen several revisions over the years. In the 2012 revision, the value was set at Rs 1,000 per sq.ft, which then decreased to Rs 670 per sq.ft in 2017. Following this, the value rose to Rs 1,000 per sq.ft in the 2023 revision, and finally increased to Rs 1,100 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

From 2017 to 2023, there was a significant increase of 49%. However, the value dropped by 33% from 2012 to 2017. Overall, from 2012 to 2024, there has been a 10% increase in the guideline value. The register does not provide figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Peerklankaranai

In Peerklankaranai, there are 322 streets under the Tambaram Joint 1 SRO with a 2024 guideline value ranging from Rs 880 to Rs 4,400 per sq.ft. The median value for these streets is Rs 1,650 per sq.ft, placing Kannadasan Street Ext's 2024 figure below this median.

• Kannadasan Street: Rs 1,100 per sq.ft (2024)
• Kannadasan Cross street: Rs 1,100 per sq.ft (2024)
• Kannagi Street: Rs 1,650 per sq.ft (2024)
• Kannan Street: Rs 1,650 per sq.ft (2024)
• Kanagambaram Street: Rs 1,320 per sq.ft (2024)
• Kambar Street: Rs 1,320 per sq.ft (2024)

Stamp duty and registration fee for property in Kannadasan Street Ext

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value would be Rs 11,00,000. The stamp duty at 7% would amount to Rs 77,000, and the registration fee at 2% would be Rs 22,000, making the total fees together Rs 99,000. It is important to note that 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 Street Ext?

The Sub Registrar Office that covers Kannadasan Street Ext is the Tambaram Joint 1 Sub Registrar Office, located at No.26, mes Road, East Tambaram, Chennai-600059, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Peerklankaranai. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid, ensuring that the transaction is recorded at a fair value.

When a property is registered, the guideline value is used to assess the applicable fees. Buyers should be aware that the guideline value may differ from the actual sale price, and the higher of the two will be used to calculate the stamp duty and registration fees.

Frequently asked questions

What is the current guideline value of Kannadasan Street Ext?

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

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 in 2012 to Rs 670 in 2017, then to Rs 1,000 in 2023, and finally to Rs 1,100 in 2024. This reflects a 10% increase from 2023 to 2024 and a 49% increase from 2017 to 2023.

What is the land classification for Kannadasan Street Ext?

The land classification for Kannadasan Street Ext is Residential Class II Type - I, indicating its use for residential purposes.

What are the stamp duty rates applicable in this area?

The stamp duty rate applicable in this area is 7%, while the registration fee is 2%. These fees are calculated based on the higher of the guideline value or the sale price.

Where is the Sub Registrar Office for Kannadasan Street Ext located?

The Sub Registrar Office for Kannadasan Street Ext is located at No.26, mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone.