Guideline Value for Kannadasan Street

Kannadasan Street guideline value

The current guideline value of Kannadasan Street in Padiyanallur village is Rs 770 per sq.ft, effective from 1 July 2024. This street falls under the Redhills SRO and is classified as Residential Class I Type - I.

How the guideline value of Kannadasan Street has changed

The guideline value for Kannadasan Street has undergone several revisions since 2003. The 2003 revision set the value at Rs 171 per sq.ft, which increased significantly to Rs 400 per sq.ft in 2007. Following that, the value rose to Rs 700 per sq.ft in 2012, but then saw a decrease to Rs 469 per sq.ft in 2017. The value then increased to Rs 700 per sq.ft in 2023, and finally reached Rs 770 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

Overall, from the 2003 revision to the 2024 revision, the guideline value has increased by 350%. It is important to note that there is no figure available for the year 2002 in the register for this street.

Guideline values in Padiyanallur

In Padiyanallur, there are 132 streets under the Redhills SRO that carry a 2024 guideline value ranging from Rs 385 to Rs 2,750 per sq.ft. The median value is Rs 770 per sq.ft, which is equal to the guideline value of Kannadasan Street.

• Kannagi Street: Rs 1,320 per sq.ft (2024)
• Kambar Street (Bhavani Nagar): Rs 770 per sq.ft (2024)
• Kanniamman Koil Street (PANNEERVAKKAM): Rs 385 per sq.ft (2024)
• Kambar Street: Rs 770 per sq.ft (2024)
• Karikalan Nagar: Rs 1,320 per sq.ft (2024)
• karikalvalavan Street (Bhavani Nagar): Rs 770 per sq.ft (2024)

Stamp duty and registration fee for property in Kannadasan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 770 per sq.ft, the total guideline value would be Rs 7,70,000. The stamp duty at 7% would be Rs 53,900, and the registration fee at 2% would be Rs 15,400, bringing the total fees together to Rs 69,300. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kannadasan Street?

The Sub Registrar Office that covers Kannadasan Street is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

When buying or selling property in Padiyanallur, the guideline value is used to determine the stamp duty and registration fees applicable to the transaction. The buyer must pay these fees based on the guideline value or the sale price, whichever is higher.

This ensures that the transaction is recorded accurately and that the appropriate taxes are collected by the government. It is crucial for buyers and sellers to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Kannadasan Street?

The current guideline value of Kannadasan Street is Rs 770 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2003, the guideline value has increased from Rs 171 per sq.ft to Rs 770 per sq.ft in 2024, marking an overall increase of 350% over this period.

What are the stamp duty and registration fees for properties on Kannadasan Street?

For a property valued at Rs 7,70,000, the stamp duty would be Rs 53,900 and the registration fee would be Rs 15,400, totaling Rs 69,300.

Which office handles registrations for Kannadasan Street?

The Redhills Sub Registrar Office handles registrations for Kannadasan Street, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

What is the land classification of Kannadasan Street?

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