Guideline Value for Kannadasan Street

Kannadasan Street guideline value

The current guideline value of Kannadasan Street is Rs 2,310 per sq.ft. This street is located in Perungalathur village under the Padappai SRO, classified as Residential Class II Type - I.

How the guideline value of Kannadasan Street has changed

Since the 2007 revision, which set the guideline value at Rs 250 per sq.ft, there have been significant changes. The value increased to Rs 2,100 per sq.ft in 2012, representing a 740% rise. However, it saw a decrease to Rs 1,407 per sq.ft in 2017, a drop of 33%. The 2023 revision brought the value back up to Rs 2,100 per sq.ft, and the most recent 2024 revision set it at Rs 2,310 per sq.ft, marking a 10% increase from the previous year.

There are no figures available for the years 2002 and 2003 in the register for this street. Overall, from 2007 to 2024, the guideline value has increased by 824%.

Guideline values in Perungalathur

In Perungalathur, there are 411 streets under the Padappai SRO that carry a 2024 guideline value ranging from Rs 1,320 to Rs 5,500 per sq.ft. The median value is Rs 2,310 per sq.ft, which is the same as the guideline value for Kannadasan Street.

• Kannaki Street: Rs 2,310 per sq.ft (2024)
• Kannaki Street and Nagar: Rs 2,310 per sq.ft (2024)
• Kannammal Street: Rs 3,740 per sq.ft (2024)
• Kannan Avenue: Rs 3,960 per sq.ft (2024)
• Kannan Avenue Stage-5: Rs 1,980 per sq.ft (2024)
• Kambar Street: Rs 1,980 per sq.ft (2024)

Stamp duty and registration fee for property in Kannadasan Street

For a 1,000 sq.ft plot at the current rate, the guideline value is Rs 23,10,000. The stamp duty at 7% would be Rs 1,61,700, and the registration fee at 2% would be Rs 46,200, totaling Rs 2,07,900. 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 details.

Which Sub Registrar Office covers Kannadasan Street?

The Sub Registrar Office that covers Kannadasan Street 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 Perungalathur

The guideline value plays a crucial role in property transactions in Perungalathur. It is used to calculate the stamp duty and registration fees that buyers must pay when purchasing property. The amount is determined based on the higher of the guideline value or the sale price.

When selling property, the guideline value helps establish a baseline for the transaction. It ensures that the property is registered at a value that reflects the official rates set by the government, which is essential for legal and financial documentation.

Frequently asked questions

What is the current guideline value of Kannadasan Street?

The current guideline value of Kannadasan Street is Rs 2,310 per sq.ft as per the 2024 revision.

How has the guideline value changed over the years?

The guideline value has seen several changes, starting from Rs 250 per sq.ft in 2007 to Rs 2,310 per sq.ft in 2024, reflecting an overall increase of 824% over this period.

What is the land classification of Kannadasan Street?

Kannadasan Street is classified as Residential Class II Type - I, which indicates its suitability for residential development.

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

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

How is stamp duty calculated for properties on Kannadasan Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 23,10,000, the stamp duty at 7% would be Rs 1,61,700.