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 Peerklankaranai village and falls under the Tambaram Joint 1 SRO, classified as Residential Class II Type - I.

How the guideline value of Kannadasan Street has changed

The guideline value for Kannadasan Street has undergone several revisions over the years. In 2012, the guideline value was set at Rs 1,000 per sq.ft. This figure remained unchanged until the 2017 revision, which saw a decrease to Rs 670 per sq.ft. However, from 2017 to 2023, there was a significant increase of 49%, bringing the value back up to Rs 1,000 per sq.ft. The latest revision in 2024 has increased the guideline value to Rs 1,100 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Peerklankaranai

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

• Kannadasan Street Ext: 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

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, charged at 7%, would amount to Rs 77,000, while the registration fee at 2% would be Rs 22,000. Together, the total cost for these fees would be Rs 99,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more information on fees applicable to property transactions.

Which Sub Registrar Office covers Kannadasan Street?

The Sub Registrar Office that covers Kannadasan Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, 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 Peerklankaranai

The guideline value is a crucial factor when registering property transactions in Peerklankaranai. It serves as a benchmark for determining the minimum value at which a property can be sold or purchased, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, it is essential to consider the guideline value as it influences the financial obligations involved in the transaction. Buyers and sellers should be aware of the current rates 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 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 median guideline value in Peerklankaranai?

The median guideline value for streets in Peerklankaranai is Rs 1,650 per sq.ft, which is higher than the current guideline value of Kannadasan Street.

What are the stamp duty and registration fees for property in Kannadasan Street?

For a property valued at Rs 11,00,000, the stamp duty would be Rs 77,000 and the registration fee would be Rs 22,000, totaling Rs 99,000.

Which office handles property registrations for Kannadasan Street?

The Tambaram Joint 1 Sub Registrar Office handles property registrations for Kannadasan Street, located at No.26, Mes Road, East Tambaram, Chennai-600059.