Guideline Value for Kannadhasan Street

Kannadhasan Street guideline value

The current guideline value of Kannadhasan Street in Kodambakkam village, under the Ashok Nagar SRO, is Rs 3,300 per sq.ft, effective from 1 July 2024. The land classification for this street is Residential Class IV Type - II.

How the guideline value of Kannadhasan Street has changed

The guideline value for Kannadhasan Street has seen several revisions over the years. In 2007, the guideline value was Rs 620 per sq.ft, which increased significantly to Rs 3,000 per sq.ft in both 2012 and 2023. The most recent revision in 2024 raised the value to Rs 3,300 per sq.ft, marking a 10% increase from the previous year.

Overall, the guideline value has increased by 432% from 2007 to 2024. It is important to note that there are no figures available for the revisions in 2002, 2003, and 2017 for this street.

Guideline values in Kodambakkam

In Kodambakkam, there are 1,031 streets under the Ashok Nagar SRO, with guideline values ranging from Rs 2,200 to Rs 11,000 per sq.ft. The median guideline value for these streets is Rs 4,900 per sq.ft, placing the 2024 figure for Kannadhasan Street below this median.

• Kannadhasan (Cross Street): Rs 3,300 per sq.ft (2024)
• Kannagi Street (JPT): Rs 4,900 per sq.ft (2024)
• Kannagi Street (M.G.R.Nagar): Rs 3,300 per sq.ft (2024)
• Kannagi street (Thiru Nagar): Rs 4,900 per sq.ft (2024)
• Kannammal Street: Rs 4,100 per sq.ft (2024)
• Kanchi Natarajan Street: Rs 6,600 per sq.ft (2024)

Stamp duty and registration fee for property in Kannadhasan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. 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 Kannadhasan Street?

The Sub Registrar Office covering Kannadhasan Street is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more details.

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

The guideline value is a crucial factor when buying or selling property in Kodambakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the registration process.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives appropriate revenue based on the property's value.

Frequently asked questions

What is the current guideline value of Kannadhasan Street?

The current guideline value of Kannadhasan Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 620 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, marking an overall increase of 432% over the years.

What is the land classification for Kannadhasan Street?

Kannadhasan Street is classified as Residential Class IV Type - II.

Where can I find the registration office for Kannadhasan Street?

The registration office for Kannadhasan Street is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How is the stamp duty calculated for properties in Kodambakkam?

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 33,00,000, the stamp duty would be Rs 2,31,000 at 7%.