Guideline Value for Kavingar Kannadasan Street

Kavingar Kannadasan Street guideline value

The current guideline value of Kavingar Kannadasan Street is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Nanmangalam village and falls under the Pallavaram SRO, classified as Residential Class I Type - I.

How the guideline value of Kavingar Kannadasan Street has changed

Over the years, the guideline value of Kavingar Kannadasan Street has seen several revisions. The 2007 revision set the value at Rs 300 per sq.ft, which increased significantly to Rs 2,500 per sq.ft in 2012, marking a rise of 733%. However, from 2012 to 2017, the value decreased to Rs 1,675 per sq.ft, a drop of 33%. The value then increased to Rs 2,500 per sq.ft in the 2023 revision, followed by another increase to Rs 2,750 per sq.ft in 2024, reflecting a 10% rise.

To summarize the changes: from 2017 to 2023, the value rose by 49%, and overall, from 2007 to 2024, there has been an increase of 817%. The register has no figures for Kavingar Kannadasan Street for the years 2002 and 2003.

Guideline values in Nanmangalam

Nanmangalam village has a total of 139 streets under the Pallavaram SRO, with the 2024 guideline values ranging from Rs 1,960 to Rs 3,850 per sq.ft. The median value is Rs 2,750 per sq.ft, which is the same as the current value for Kavingar Kannadasan Street.

• Kayathri Nagar: Rs 1,980 per sq.ft (2024)
• K.B.Nagar: Rs 3,300 per sq.ft (2024)
• Kiyyur Nisha Avenue: Rs 2,750 per sq.ft (2024)
• Karunai Sekaran Nagar: Rs 1,980 per sq.ft (2024)
• Karunai Sekaran 1 To 3 Streets: Rs 1,980 per sq.ft (2024)
• Kovalan Street: Rs 1,960 per sq.ft (2024)

Stamp duty and registration fee for property in Kavingar Kannadasan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value amounts to Rs 27,50,000. The stamp duty at 7% would be Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, bringing the total charges to Rs 2,47,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kavingar Kannadasan Street?

Kavingar Kannadasan Street is covered by the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for further assistance.

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

The guideline value is a critical factor during property registration in Nanmangalam. It serves as the basis for calculating stamp duty and registration fees, ensuring that both the buyer and seller comply with the legal requirements set by the government.

When buying or selling property, the guideline value helps in determining the minimum price for transactions, ensuring transparency and fairness in property dealings. It is essential for both parties to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Kavingar Kannadasan Street?

The current guideline value of Kavingar Kannadasan Street is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2007, the guideline value has increased from Rs 300 per sq.ft to Rs 2,750 per sq.ft in 2024, marking an overall increase of 817%.

What is the land classification for Kavingar Kannadasan Street?

Kavingar Kannadasan Street is classified as Residential Class I Type - I, indicating its suitability for residential purposes.

Where can I find the Sub Registrar Office for Kavingar Kannadasan Street?

The Pallavaram Sub Registrar Office is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone.

How is stamp duty calculated for properties in Kavingar Kannadasan Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 27,50,000, the stamp duty would be Rs 1,92,500 at a rate of 7%.