Guideline Value for Kanthasamy Nagar 3rd Street

Kanthasamy Nagar 3rd Street guideline value

The current guideline value of Kanthasamy Nagar 3rd Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Maduravoyal village, under the Virugambakkam SRO. The land classification for this area is Residential Class V Type - I.

How the guideline value of Kanthasamy Nagar 3rd Street has changed

The guideline value for Kanthasamy Nagar 3rd Street has seen several revisions over the years. In 2002, the guideline value was Rs 113 per sq.ft, which increased to Rs 124 per sq.ft in 2003, marking a 10% rise. The value further increased significantly to Rs 400 per sq.ft in 2007, reflecting a 223% change. By 2012, the value was Rs 2,000 per sq.ft, showing a substantial increase of 400% from the previous revision. However, this value decreased by 33% to Rs 1,340 per sq.ft in 2017.

In 2023, the guideline value rose to Rs 2,000 per sq.ft, and then to the current figure of Rs 2,200 per sq.ft in 2024, which is a 10% increase. 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 2024 guideline value ranging from Rs 2,200 to Rs 6,050 per sq.ft, with a median value of Rs 3,050 per sq.ft. Kanthasamy Nagar 3rd Street's 2024 figure is below this median.

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

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

You can use our stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Kanthasamy Nagar 3rd Street?

The Sub Registrar Office that covers Kanthasamy Nagar 3rd Street is 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 property transactions in Maduravoyal. It serves as a benchmark for determining the minimum price at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with registration regulations.

When a property is sold, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that both parties are aware of the financial obligations involved in the transaction.

Frequently asked questions

What is the current guideline value of Kanthasamy Nagar 3rd Street?

The current guideline value of Kanthasamy Nagar 3rd Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Over the years, the guideline value has changed significantly from Rs 113 per sq.ft in 2002 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 1,847%.

What is the land classification for Kanthasamy Nagar 3rd Street?

The land classification for Kanthasamy Nagar 3rd Street is Residential Class V Type - I.

Where can I find the registration office for this area?

The registration office for Kanthasamy Nagar 3rd Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

How is stamp duty calculated for properties in Kanthasamy Nagar 3rd Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot, the stamp duty would be Rs 1,54,000 at the current guideline value of Rs 22,00,000.