Guideline Value for Sri Kandan Nagar

Sri Kandan Nagar guideline value

The current guideline value of Sri Kandan Nagar is Rs 1,300 per sq.ft, effective from 1 July 2024. This area is located in Madhavaram village, under the Madhavaram SRO. The land classification for this street is Residential Class III Type - I.

How the guideline value of Sri Kandan Nagar has changed

The guideline value for Sri Kandan Nagar has undergone several revisions over the years. The 2012 revision set the value at Rs 1,200 per sq.ft, which decreased to Rs 804 per sq.ft in 2017. This marked a decline of 33%. However, in the 2024 revision, the value increased significantly to Rs 1,300 per sq.ft, reflecting a rise of 62% from the 2017 figure.

Overall, from the 2012 revision to the 2024 revision, the guideline value has seen a slight increase of 8%. It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2023 for this street.

Guideline values in Madhavaram

Madhavaram village has a total of 1,946 streets under the Madhavaram SRO, with 2024 guideline values ranging from Rs 1,300 to Rs 7,500 per sq.ft. The median value for these streets is Rs 1,600 per sq.ft, indicating that the current guideline value of Sri Kandan Nagar is below this median.

• Srikandhan Nagar, Ponniammanmedu (Ward-23): Rs 1,600 per sq.ft (2024)
• Sri Krishna Nagar: Rs 2,200 per sq.ft (2024)
• Sri Krishna Nagar (Moolachatram) (Ward-02): Rs 1,600 per sq.ft (2024)
• Sri Krishna Nagar, Ponniammanmedu (Ward-23): Rs 1,300 per sq.ft (2024)
• Srikrishna Nagar (Ward-02): Rs 1,300 per sq.ft (2024)
• Sri Ganesh Nagar Annexe (Vinayagapuram): Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Kandan Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value would be Rs 13,00,000. The stamp duty at 7% would amount to Rs 91,000, and the registration fee at 2% would be Rs 26,000, bringing the total to Rs 1,17,000. It is important to note that the 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 Sri Kandan Nagar?

The Sub Registrar Office that covers Sri Kandan Nagar is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Madhavaram. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the transaction.

When a property is sold, the buyer and seller must ensure that the sale price is at least equal to the guideline value to avoid any discrepancies during registration. This ensures that all parties are compliant with the regulations set forth by the Registration Department.

Frequently asked questions

What is the current guideline value of Sri Kandan Nagar?

The current guideline value of Sri Kandan Nagar is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, and then increased to Rs 1,300 per sq.ft in 2024. This reflects a decline of 33% from 2012 to 2017, followed by a 62% increase from 2017 to 2024.

What is the land classification of Sri Kandan Nagar?

Sri Kandan Nagar is classified as Residential Class III Type - I. This classification is important for determining the appropriate uses and regulations for the land.

Where can I find more information about stamp duty and registration fees?

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

Which office handles registrations for Sri Kandan Nagar?

The Madhavaram Sub Registrar Office handles registrations for Sri Kandan Nagar. It is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.