Guideline Value for Kanthavelu Nagar

Kanthavelu Nagar guideline value

The current guideline value of Kanthavelu Nagar is Rs 1,322 per sq.ft, effective from 1 July 2024. This area is located in Melamaiyur village, under the Chengleput Joint I SRO, and is classified as Mixed Special Type - II.

How the guideline value of Kanthavelu Nagar has changed

The guideline value for Kanthavelu Nagar has seen several revisions over the years. In 2007, the value was set at Rs 200 per sq.ft, which significantly increased to Rs 1,500 per sq.ft in 2012. However, this figure decreased to Rs 1,005 per sq.ft in 2017. The value then rose to Rs 1,200 per sq.ft in 2023, and most recently, it has increased by 10% to Rs 1,322 per sq.ft in 2024. There are no figures available for the years 2002 and 2003 for this street.

Overall, from 2007 to 2024, the guideline value has increased by 561%. The changes between revisions include a 650% increase from 2007 to 2012, a 33% decrease from 2012 to 2017, a 19% increase from 2017 to 2023, and a 10% increase from 2023 to 2024.

Guideline values in Melamaiyur

In Melamaiyur, there are 37 streets under the Chengleput Joint I SRO with a guideline value for 2024 ranging from Rs 440 to Rs 3,000 per sq.ft. The median value is Rs 1,212 per sq.ft, placing Kanthavelu Nagar's guideline value above this median.

• Kannan Nagar: Rs 990 per sq.ft (2024)
• Kanagasundaram Nagar: Rs 825 per sq.ft (2024)
• K.K.Nagar: Rs 825 per sq.ft (2024)
• Lake Avenue: Rs 1,322 per sq.ft (2024)
• Lakshmi Nagar: Rs 1,212 per sq.ft (2024)
• Manickam Nagar: Rs 825 per sq.ft (2024)

Stamp duty and registration fee for property in Kanthavelu Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,322 per sq.ft, the total guideline value would be Rs 13,22,000. The stamp duty at 7% would amount to Rs 92,540, and the registration fee at 2% would be Rs 26,440, bringing the total fees together to Rs 1,18,980. Note that duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kanthavelu Nagar?

The Sub Registrar Office covering Kanthavelu Nagar is the Chengleput Joint I Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration process when buying or selling property in Melamaiyur. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is registered, the guideline value is used to assess the fees, ensuring that they are calculated based on the current value set by the Registration Department. This helps maintain transparency and standardization in property transactions.

Frequently asked questions

What is the current guideline value of Kanthavelu Nagar?

The current guideline value of Kanthavelu Nagar is Rs 1,322 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 200 per sq.ft in 2007 to Rs 1,322 per sq.ft in 2024, showing an overall increase of 561% over this period.

What are the other streets in Melamaiyur with their guideline values?

Other streets in Melamaiyur include Kannan Nagar at Rs 990 per sq.ft, Kanagasundaram Nagar and K.K.Nagar at Rs 825 per sq.ft each, Lake Avenue at Rs 1,322 per sq.ft, and Lakshmi Nagar at Rs 1,212 per sq.ft.

What are the stamp duty and registration fees for property in Kanthavelu Nagar?

For a property valued at Rs 13,22,000, the stamp duty would be Rs 92,540 and the registration fee would be Rs 26,440, totaling Rs 1,18,980.

Where is the Sub Registrar Office for Kanthavelu Nagar located?

The Sub Registrar Office for Kanthavelu Nagar is the Chengleput Joint I Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.