Guideline Value for Kanthasamy Nagar 9th Street

Kanthasamy Nagar 9th Street guideline value

The current guideline value of Kanthasamy Nagar 9th 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 9th Street has changed

The guideline value for Kanthasamy Nagar 9th Street has seen significant changes over the years. In 2002, the value was Rs 113 per sq.ft, which increased to Rs 124 per sq.ft in 2003, marking a 10% rise. By 2007, the value surged to Rs 400 per sq.ft, reflecting a substantial increase of 223%. The value then rose to Rs 2,000 per sq.ft in 2012, which was a 400% increase from the previous revision. However, it dropped to Rs 1,340 per sq.ft in 2017, showing a decrease of 33% compared to 2012. The value climbed again to Rs 2,000 per sq.ft in 2023, and finally, it reached Rs 2,200 per sq.ft in the 2024 revision, which is a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by an impressive 1,847%. There are no figures available for the revisions of other years for this street.

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. The guideline value of Kanthasamy Nagar 9th Street is below this median.

• Kanthasamy Nagar 8th Street: Rs 2,200 per sq.ft (2024)
• Kanthasamy Nagar Main Road: 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 9th 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 fees 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 our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Kanthasamy Nagar 9th Street?

The Sub Registrar Office that covers Kanthasamy Nagar 9th 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 plays a crucial role during the registration process when buying or selling property in Maduravoyal. It serves as a reference point for determining the stamp duty and registration fees that need to be paid to the government.

When a property is sold, the buyer must pay the stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives a fair amount of revenue from property transactions.

Frequently asked questions

What is the current guideline value for Kanthasamy Nagar 9th Street?

The current guideline value for Kanthasamy Nagar 9th 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 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% over the years.

What is the stamp duty for property in Kanthasamy Nagar 9th Street?

The stamp duty for property in Kanthasamy Nagar 9th Street is 7% of the guideline value or the sale price, whichever is higher.

Which Sub Registrar Office covers this area?

The Virugambakkam Sub Registrar Office covers Kanthasamy Nagar 9th Street, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

What is the land classification of Kanthasamy Nagar 9th Street?

Kanthasamy Nagar 9th Street is classified as Residential Class V Type - I.