Guideline Value for Kannathasan Street(banu nagar west)

Kannathasan Street(banu nagar west) guideline value

The current guideline value of Kannathasan Street(banu nagar west) is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Oragadam village, under the Ambattur SRO, and is classified as Residential Special Type - II.

How the guideline value of Kannathasan Street(banu nagar west) has changed

The guideline value for Kannathasan Street(banu nagar west) has seen significant changes over the years. In 2007, the value was Rs 605 per sq.ft, which increased to Rs 2,000 per sq.ft in 2012, marking a substantial rise of 231%. However, it decreased to Rs 1,340 per sq.ft in 2017, a drop of 33%. Following this, the value surged to Rs 2,000 per sq.ft in 2023, and then further increased to the current value of Rs 2,200 per sq.ft in 2024, reflecting a growth of 10%.

Notably, the register has no figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 264%.

Guideline values in Oragadam

In Oragadam, there are 596 streets under the Ambattur SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 3,500 per sq.ft. The median value is Rs 2,200 per sq.ft, which aligns with the current guideline value of Kannathasan Street(banu nagar west).

• Kanniyamman Koil Street: Rs 1,600 per sq.ft (2024)
• Kannaki Street (Vinayagapuram): Rs 2,400 per sq.ft (2024)
• Kannadasan Street (Gandhi Nagar): Rs 1,800 per sq.ft (2024)
• Kandhasamy Street (V.L.Puram): Rs 2,400 per sq.ft (2024)
• Kambar Street (V.L.Puram): Rs 2,400 per sq.ft (2024)
• Kambar Street (Venkateswara Nagar): Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in Kannathasan Street(banu nagar west)

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total fees to Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kannathasan Street(banu nagar west)?

The Sub Registrar Office covering Kannathasan Street(banu nagar west) is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Oragadam. It serves as a benchmark for determining the minimum price at which a property can be registered. When a buyer purchases a property, the guideline value is used to calculate the stamp duty and registration fees, ensuring that these costs are based on the official valuation rather than the sale price.

During the registration process, buyers must pay the applicable stamp duty and registration fees based on the guideline value. This ensures transparency and standardization in property transactions, helping to prevent undervaluation and tax evasion.

Frequently asked questions

What is the current guideline value of Kannathasan Street(banu nagar west)?

The current guideline value of Kannathasan Street(banu nagar west) is Rs 2,200 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed significantly, from Rs 605 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024, marking an overall increase of 264%.

What is the land classification of Kannathasan Street(banu nagar west)?

Kannathasan Street(banu nagar west) is classified as Residential Special Type - II.

Where can I find the Sub Registrar Office for this street?

The Sub Registrar Office for Kannathasan Street(banu nagar west) is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

How is the stamp duty calculated for properties in Oragadam?

Stamp duty for properties in Oragadam is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 at a rate of 7%.