Guideline Value for Kannadasan Street

Kannadasan Street guideline value

The current guideline value of Kannadasan Street is Rs 1,100 per sq.ft, effective from 1 July 2024. This street is located in Selaiyur village, under the Selaiyur SRO, and is classified as Residential Class IV 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 earliest available figure is from 2012, where the value was Rs 1,000 per sq.ft. This remained unchanged until the 2017 revision, which saw a decrease of 33% to Rs 670 per sq.ft. Following this, the value increased significantly by 49% to Rs 1,000 per sq.ft in 2023. The most recent revision in 2024 has further increased the guideline value to Rs 1,100 per sq.ft, reflecting a 10% rise from the previous year.

There are no figures available for the revisions in 2002, 2003, and 2007 for Kannadasan Street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Selaiyur

In Selaiyur, there are a total of 478 streets under the Selaiyur SRO with a 2024 guideline value range from Rs 850 to Rs 6,500 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, indicating that the guideline value of Kannadasan Street is below this median.

• Kannaiyapuram: Rs 850 per sq.ft (2024)
• Kannaki Street: Rs 1,600 per sq.ft (2024)
• Kandasamy Colony: Rs 2,750 per sq.ft (2024)
• Kanagaraj Street: Rs 1,100 per sq.ft (2024)
• Kanaga Nagar: Rs 1,100 per sq.ft (2024)
• Kannan Street: Rs 1,300 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 of Rs 1,100 per sq.ft, the guideline value amounts to Rs 11,00,000. The stamp duty at 7% would be Rs 77,000, while the registration fee at 2% would be Rs 22,000, making the total Rs 99,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

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

When buying or selling property in Selaiyur, the guideline value plays a crucial role in determining the stamp duty and registration fees. This value is set by the Registration Department and is used to assess the amount payable during the registration process.

The guideline value ensures that the property is valued fairly for tax purposes, and it is essential for both buyers and sellers to be aware of these values when engaging in property transactions.

Frequently asked questions

What is the current guideline value of Kannadasan Street?

The current guideline value of Kannadasan Street 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 per sq.ft in 2012 to Rs 670 per sq.ft in 2017, then back to Rs 1,000 per sq.ft in 2023, and finally to Rs 1,100 per sq.ft in 2024.

What is the land classification of Kannadasan Street?

Kannadasan Street is classified as Residential Class IV Type - I, indicating its use for residential purposes.

What is the range of guideline values for other streets in Selaiyur?

The guideline values for other streets in Selaiyur range from Rs 850 to Rs 6,500 per sq.ft, with a median value of Rs 2,200 per sq.ft.

Where can I find the Selaiyur Sub Registrar Office?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.