Guideline Value for Kannadasan Street

Kannadasan Street guideline value

The current guideline value of Kannadasan Street in Madambakkam village is Rs 1,600 per sq.ft, effective from 1 July 2024. This street falls under the Selaiyur SRO and is classified as Residential Class II Type - I.

How the guideline value of Kannadasan Street has changed

The guideline value for Kannadasan Street has seen several revisions over the years. The 2012 revision set the value at Rs 1,500 per sq.ft, which remained unchanged until the 2017 revision, where it dropped to Rs 1,005 per sq.ft. However, from 2017 to 2023, there was a significant increase of 49%, bringing the value up to Rs 1,500 per sq.ft. The latest revision in 2024 has further increased the guideline value to Rs 1,600 per sq.ft, marking a 7% rise from the previous year.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 for Kannadasan Street. Overall, the guideline value has increased by 7% from 2012 to 2024.

Guideline values in Madambakkam

In Madambakkam, there are 1,151 streets under the Selaiyur SRO, with guideline values ranging from Rs 1,100 to Rs 6,000 per sq.ft. The median value for these streets is Rs 2,400 per sq.ft, making the current guideline value of Rs 1,600 per sq.ft for Kannadasan Street below the median.

• Kannadasan Avenue: Rs 1,600 per sq.ft (2024)
• Kannagi Street: Rs 3,800 per sq.ft (2024)
• Kamatchi Nagar Main Road: Rs 1,300 per sq.ft (2024)
• Kamatchi Nagar Cross Street: Rs 1,300 per sq.ft (2024)
• Kamatchi Nagar 2nd Street: Rs 1,300 per sq.ft (2024)
• Karigalan 1st Street: Rs 1,600 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 1,600 per sq.ft, the total guideline value would be Rs 16,00,000. The stamp duty at 7% would amount to Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, making the total cost for stamp duty and registration fees Rs 1,44,000. 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 details.

Which Sub Registrar Office covers Kannadasan Street?

The Sub Registrar Office that covers Kannadasan Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Madambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the official valuation of the property. This value is especially important for calculating the applicable stamp duty and registration fees, which are based on the higher of the guideline value or the sale price.

Frequently asked questions

What is the current guideline value of Kannadasan Street?

The current guideline value of Kannadasan Street is Rs 1,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, then increased to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,600 per sq.ft in 2024.

What are the guideline values for other streets in Madambakkam?

Other streets in Madambakkam have varying guideline values, with rates ranging from Rs 1,300 to Rs 3,800 per sq.ft. The median value for these streets is Rs 2,400 per sq.ft.

What is the stamp duty for property in Kannadasan Street?

The stamp duty for a property in Kannadasan Street is calculated at 7% of the guideline value or sale price, whichever is higher. For a property valued at Rs 16,00,000, the stamp duty would be Rs 1,12,000.

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

The Sub Registrar Office for Kannadasan Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai, Ruby Mansion, East Tambaram, Chennai - 600 073.