Guideline Value for Kanthasamy Nagar Main Road

Kanthasamy Nagar Main Road guideline value

The current guideline value of Kanthasamy Nagar Main Road is Rs 2,200 per sq.ft, effective from 1 July 2024. This road is located in Maduravoyal village, under the Virugambakkam SRO, and is classified as Residential Class V Type - I.

How the guideline value of Kanthasamy Nagar Main Road has changed

The guideline value for Kanthasamy Nagar Main Road has seen several revisions over the years. Starting from the 2002 revision, the value was Rs 113 per sq.ft. This increased to Rs 124 per sq.ft in 2003, marking a 10% rise. The value continued to grow significantly, reaching Rs 400 per sq.ft in 2007, a substantial increase of 223%. By 2012, the value was Rs 2,000 per sq.ft, reflecting a 400% increase from the previous revision. However, it then decreased to Rs 1,340 per sq.ft in 2017, a drop of 33% from 2012. The guideline value further increased to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,200 per sq.ft in 2024, marking a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 1,847%. The register has no figures for revisions in years other than those specified.

Guideline values in Maduravoyal

In Maduravoyal, there are 636 streets under the Virugambakkam SRO that carry a 2024 guideline value, ranging from Rs 2,200 to Rs 6,050 per sq.ft. The median value is Rs 3,050 per sq.ft, placing Kanthasamy Nagar Main Road's 2024 figure below that median.

• Kanthasamy Nagar 9th Street: Rs 2,200 per sq.ft (2024)
• Kanthasamy Nagar 8th Street: Rs 2,200 per sq.ft (2024)
• Kanthasamy Nagar 7th Street: Rs 2,200 per sq.ft (2024)
• Kanthasamy Nagar 6th Street: Rs 2,200 per sq.ft (2024)
• Kanthasamy Nagar 5th Street: Rs 2,200 per sq.ft (2024)
• Kanthasamy Nagar 4th Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Kanthasamy Nagar Main Road

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, charged at 7%, would be Rs 1,54,000, while the registration fee at 2% would be Rs 44,000. Together, the total cost for stamp duty and registration fee would be Rs 1,98,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kanthasamy Nagar Main Road?

The Kanthasamy Nagar Main Road falls under the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for further assistance.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Maduravoyal. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must be aware of this value to ensure compliance with local regulations during the transaction.

When a property is registered, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Kanthasamy Nagar Main Road?

The current guideline value of Kanthasamy Nagar Main Road is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, starting from Rs 113 per sq.ft in 2002 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 1,847% over this period.

What is the land classification for Kanthasamy Nagar Main Road?

Kanthasamy Nagar Main Road is classified as Residential Class V Type - I, which indicates its designated use for residential purposes.

What are the stamp duty and registration fees for property transactions?

Stamp duty is charged at 7% of the guideline value, while the registration fee is 2%. For example, for a property valued at Rs 22,00,000, the total stamp duty and registration fees would amount to Rs 1,98,000.

Which office handles registrations for Kanthasamy Nagar Main Road?

The Virugambakkam Sub Registrar Office handles registrations for Kanthasamy Nagar Main Road, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.