Guideline Value for Kanthapuri

Kanthapuri guideline value

The current guideline value for Kanthapuri, located in Somangalam village under the Sriperumpudur SRO, is Rs 400 per sq.ft. This value is effective from 1 July 2024 and falls under the Residential Special Type - I land classification.

How the guideline value of Kanthapuri has changed

Over the years, the guideline value for Kanthapuri has seen several revisions. The 2007 revision set the value at Rs 40 per sq.ft, which significantly increased to Rs 400 per sq.ft in the 2012 revision, marking a remarkable rise of 900%. However, in the 2017 revision, the value decreased to Rs 268 per sq.ft, a decline of 33%. The 2023 revision maintained the value at Rs 400 per sq.ft, and the same figure was retained in the 2024 revision, resulting in a 0% change between these two years. The register has no figure for the years 2002 and 2003 for this street.

From 2007 to 2024, the overall change in the guideline value is an increase of 900%. The most notable change occurred between 2017 and 2023, where the value jumped by 49%. This consistent rise in value reflects the evolving landscape of Kanthapuri.

Guideline values in Somangalam

In Somangalam, there are 86 streets under the Sriperumpudur SRO that carry a 2024 guideline value ranging from Rs 150 to Rs 800 per sq.ft. The median value is Rs 350 per sq.ft, placing Kanthapuri's 2024 figure above this median.

• Karuneekar Nagar: Rs 250 per sq.ft (2024)
• Kasthuri Nagar: Rs 400 per sq.ft (2024)
• KR Garden: Rs 250 per sq.ft (2024)
• KR Garden Phase-II: Rs 400 per sq.ft (2024)
• Kailashpuri Nagar: Rs 250 per sq.ft (2024)
• Kulakkarai street: Rs 400 per sq.ft (2024)

Stamp duty and registration fee for property in Kanthapuri

For a 1,000 sq.ft plot at the current guideline value of Rs 400 per sq.ft, the total guideline value amounts to Rs 4,00,000. The stamp duty at 7% would be Rs 28,000, and the registration fee at 2% would be Rs 8,000, bringing the total cost for these fees to Rs 36,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kanthapuri?

The Sub Registrar Office that covers Kanthapuri is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role during the registration of property transactions in Somangalam. It is used to determine the stamp duty and registration fees, ensuring that these costs are calculated based on the established values for the area.

When buying or selling property, the guideline value helps in assessing the official worth of the property, which is essential for legal documentation and ensuring compliance with local regulations. Buyers and sellers should be aware of these values to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Kanthapuri?

The current guideline value of Kanthapuri is Rs 400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 40 per sq.ft in 2007 to Rs 400 per sq.ft in 2012, then decreased to Rs 268 per sq.ft in 2017. It remained at Rs 400 per sq.ft in both 2023 and 2024.

What is the land classification for Kanthapuri?

Kanthapuri is classified as Residential Special Type - I, indicating its designated use for residential purposes.

What are the stamp duty and registration fees for a property in Kanthapuri?

For a property valued at Rs 4,00,000, the stamp duty would be Rs 28,000 and the registration fee would be Rs 8,000, totaling Rs 36,000.

Where can I find the Sub Registrar Office for Kanthapuri?

The Sub Registrar Office covering Kanthapuri is located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.