Guideline Value for Kanthasamy Nagar 4th Street

Kanthasamy Nagar 4th Street guideline value

The current guideline value of Kanthasamy Nagar 4th Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Maduravoyal village under the Virugambakkam SRO, classified as Residential Class V Type - I.

How the guideline value of Kanthasamy Nagar 4th Street has changed

The guideline value for Kanthasamy Nagar 4th Street has undergone 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 then experienced a significant increase to Rs 400 per sq.ft in 2007, reflecting a 223% change. Following this, the value jumped to Rs 2,000 per sq.ft in 2012, a 400% increase from the previous revision. However, it decreased to Rs 1,340 per sq.ft in 2017, showing a decline of 33%.

In 2023, the guideline value was revised to Rs 2,000 per sq.ft, and then it increased to Rs 2,200 per sq.ft in 2024, resulting in a 10% rise. Overall, from 2002 to 2024, the guideline value has increased by 1,847% for this street.

Guideline values in Maduravoyal

In Maduravoyal, there are 636 streets under the Virugambakkam SRO with 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. The guideline value of Kanthasamy Nagar 4th Street is below this median.

• Kanthasamy Nagar 3rd Street: Rs 2,200 per sq.ft (2024)
• Kanthasamy Nagar 5th Street: Rs 2,200 per sq.ft (2024)
• Kanthasamy Nagar 2nd Street: Rs 2,200 per sq.ft (2024)
• Kanthasamy Nagar 6th Street: Rs 2,200 per sq.ft (2024)
• Kanthasamy Nagar 1st Street: Rs 2,200 per sq.ft (2024)
• Kanthasamy Nagar 7th Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Kanthasamy Nagar 4th Street

For a 1,000 sq.ft plot at the current rate of Rs 2,200 per sq.ft, the 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, totaling 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 the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kanthasamy Nagar 4th Street?

The Sub Registrar Office that covers Kanthasamy Nagar 4th 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 the registration process 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 transaction is documented accurately.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that all transactions are conducted in compliance with local regulations and that the government receives the appropriate revenue from property sales.

Frequently asked questions

What is the current guideline value of Kanthasamy Nagar 4th Street?

The current guideline value of Kanthasamy Nagar 4th 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 changed 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 the years.

What is the stamp duty for properties in Kanthasamy Nagar 4th Street?

The stamp duty for properties in Kanthasamy Nagar 4th Street is 7% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Kanthasamy Nagar 4th Street?

The Sub Registrar Office for Kanthasamy Nagar 4th Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

What is the land classification for Kanthasamy Nagar 4th Street?

Kanthasamy Nagar 4th Street is classified as Residential Class V Type - I according to the guidelines set by the local authorities.