Guideline Value for Kanthasamy Nagar 2nd Street

Kanthasamy Nagar 2nd Street guideline value

The current guideline value for Kanthasamy Nagar 2nd Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street 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 2nd Street has changed

The guideline value for Kanthasamy Nagar 2nd Street has seen multiple revisions over the years. The earliest recorded guideline value was Rs 113 per sq.ft in 2002, which increased to Rs 124 per sq.ft in 2003, marking a 10% rise. Following this, the value surged significantly to Rs 400 per sq.ft in 2007, an increase of 223%. The guideline value then rose to Rs 2,000 per sq.ft in 2012, reflecting a 400% change from the previous revision. However, it decreased to Rs 1,340 per sq.ft in 2017, showing a decline of 33%.

In the subsequent revisions, the guideline value increased to Rs 2,000 per sq.ft in 2023, and then to Rs 2,200 per sq.ft in 2024, which is a 10% increase from the previous year. Overall, from 2002 to 2024, the guideline value has increased by 1,847%.

Guideline values in Maduravoyal

In Maduravoyal, there are 636 streets under the Virugambakkam SRO that carry a guideline value for 2024, ranging from Rs 2,200 to Rs 6,050 per sq.ft. The median guideline value in this area is Rs 3,050 per sq.ft, placing Kanthasamy Nagar 2nd Street's current value below that median.

• Kanthasamy Nagar 1st Street: Rs 2,200 per sq.ft (2024)
• Kanthasamy Nagar 3rd Street: Rs 2,200 per sq.ft (2024)
• Kanthasamy Nagar 10th Street: Rs 2,200 per sq.ft (2024)
• Kanthasamy Nagar 4th Street: Rs 2,200 per sq.ft (2024)
• Kanthasamy Nagar 5th Street: Rs 2,200 per sq.ft (2024)
• Kanthasamy Nagar 6th Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Kanthasamy Nagar 2nd Street

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 charges 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.

You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kanthasamy Nagar 2nd Street?

The Sub Registrar Office that covers Kanthasamy Nagar 2nd Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role during the registration of property transactions in Maduravoyal. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees.

When buying or selling property, the guideline value is compared to the sale price. The higher of the two values is used to calculate the applicable stamp duty and registration fees, which are mandatory for the legal transfer of property ownership.

Frequently asked questions

What is the current guideline value of Kanthasamy Nagar 2nd Street?

The current guideline value of Kanthasamy Nagar 2nd Street 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 increased from Rs 113 per sq.ft in 2002 to Rs 2,200 per sq.ft in 2024, marking an overall increase of 1,847%.

What is the median guideline value in Maduravoyal?

The median guideline value for streets in Maduravoyal is Rs 3,050 per sq.ft, making the current value of Kanthasamy Nagar 2nd Street below this median.

What fees are associated with buying property in Kanthasamy Nagar 2nd Street?

When buying property, stamp duty is charged at 7% and the registration fee at 2% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Kanthasamy Nagar 2nd Street?

The Virugambakkam Sub Registrar Office covers Kanthasamy Nagar 2nd Street and is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.