Guideline Value for Kanthasamy Nagar 6th Street

Kanthasamy Nagar 6th Street guideline value

The current guideline value of Kanthasamy Nagar 6th Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Maduravoyal village and falls under the Virugambakkam SRO. The land classification for this area is Residential Class V Type - I.

How the guideline value of Kanthasamy Nagar 6th Street has changed

The guideline value for Kanthasamy Nagar 6th Street has undergone several revisions over the years. Starting from the 2002 revision, the guideline value was Rs 113 per sq.ft. This increased to Rs 124 per sq.ft in 2003, marking a 10% rise. The value saw a significant jump to Rs 400 per sq.ft in 2007, which was a 223% increase. In 2012, the value remained at Rs 2,000 per sq.ft, a decrease of 400% from the previous revision. The 2017 revision set the value at Rs 1,340 per sq.ft, reflecting a 33% drop from 2012. The value then increased to Rs 2,000 per sq.ft in 2023, showing a 49% rise, and finally reached Rs 2,200 per sq.ft in the 2024 revision, which is a 10% increase.

There are no figures available for the years not listed in the register for this street. The overall change from 2002 to 2024 shows an increase of 1847% in the guideline value.

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 6th Street's 2024 figure is below that median.

• Kanthasamy Nagar 5th Street: Rs 2,200 per sq.ft (2024)
• Kanthasamy Nagar 7th Street: Rs 2,200 per sq.ft (2024)
• Kanthasamy Nagar 4th Street: Rs 2,200 per sq.ft (2024)
• Kanthasamy Nagar 8th Street: Rs 2,200 per sq.ft (2024)
• Kanthasamy Nagar 3rd Street: Rs 2,200 per sq.ft (2024)
• Kanthasamy Nagar 9th Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Kanthasamy Nagar 6th 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, while the registration fee at 2% would be Rs 44,000. Together, these fees would total Rs 1,98,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kanthasamy Nagar 6th Street?

The Sub Registrar Office that covers Kanthasamy Nagar 6th 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 more information.

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

The guideline value is a crucial factor when buying or selling property in Maduravoyal. It serves as a reference point for determining the stamp duty and registration fees payable during the transaction. Buyers and sellers should be aware that the guideline value is used to calculate these fees, ensuring transparency in property transactions.

When registering a property, the guideline value helps in establishing the official value of the property for taxation purposes. This ensures that both parties in the transaction are aware of the financial obligations involved, based on the established guideline value.

Frequently asked questions

What is the current guideline value of Kanthasamy Nagar 6th Street?

The current guideline value of Kanthasamy Nagar 6th 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 1847% over this period.

What is the registration office for Kanthasamy Nagar 6th Street?

The registration office for Kanthasamy Nagar 6th Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 and the registration fee would be Rs 44,000, totaling Rs 1,98,000.

How does the guideline value affect property transactions?

The guideline value is used to determine the stamp duty and registration fees during property transactions. It ensures that both buyers and sellers are aware of their financial obligations based on the official valuation of the property.