Guideline Value for WISE PRESEDENT PARAMASIVAM STREET(OR)NIMANTHAKARA STREET

Wise Presedent Paramasivam Street(Or)nimanthakara Street guideline value

The current guideline value of Wise Presedent Paramasivam Street(Or)nimanthakara Street is Rs 1,650 per sq.ft, effective from 1 July 2024. This street is located in Kanchipuram Town village and falls under the Kanchipuram Joint I SRO. The land classification for this area is Residential Class II Type - III.

How the guideline value of Wise Presedent Paramasivam Street(Or)nimanthakara Street has changed

The guideline value has undergone several revisions over the years. In 2012, the guideline value was Rs 1,500 per sq.ft. This figure remained unchanged until 2017, when it decreased by 33% to Rs 1,005 per sq.ft. Following this, the value saw a significant increase of 49% in 2023, reaching Rs 1,500 per sq.ft. The most recent revision in 2024 brought the guideline value to Rs 1,650 per sq.ft, marking a 10% increase from the previous year.

It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for this street. Therefore, the only registered values are from the years 2012, 2017, 2023, and the current 2024 revision.

Guideline values in Kanchipuram Town

Kanchipuram Town has a total of 85 streets under the Kanchipuram Joint I SRO that carry a 2024 guideline value, ranging from Rs 880 to Rs 5,500 per sq.ft. The median guideline value for these streets is Rs 1,650 per sq.ft, which is equal to the current value of Wise Presedent Paramasivam Street(Or)nimanthakara Street.

• West Raja Street: Rs 3,850 per sq.ft (2024)
• Vellakulam Street: Rs 1,100 per sq.ft (2024)
• Varadhappan Street: Rs 880 per sq.ft (2024)
• Varadhappan Back Street: Rs 880 per sq.ft (2024)
• Vaitheeyar Street: Rs 1,980 per sq.ft (2024)
• Vaigundaperumal Mada Street: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Wise Presedent Paramasivam Street(Or)nimanthakara Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value amounts to Rs 16,50,000. The stamp duty, calculated at 7%, would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total to Rs 1,48,500. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Wise Presedent Paramasivam Street(Or)nimanthakara Street?

The Wise Presedent Paramasivam Street(Or)nimanthakara Street is covered by the Kanchipuram Joint I Sub Registrar Office, located at No.52 Orikkai Madura, Udhayamangalam Village, Near Anna Kudiyiruppu, Kanchipuram -631502, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor in property transactions, as it determines the minimum value at which a property can be registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory for legal ownership transfer.

It is essential for buyers and sellers to be aware of the guideline value to ensure compliance with local regulations and to avoid any potential legal issues during the registration process.

Frequently asked questions

What is the current guideline value of Wise Presedent Paramasivam Street(Or)nimanthakara Street?

The current guideline value of Wise Presedent Paramasivam Street(Or)nimanthakara Street is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, then increased to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,650 per sq.ft in 2024.

What are the stamp duty and registration fees for property transactions?

The stamp duty is charged at 7% and the registration fee at 2% of the guideline value or sale price, whichever is higher. For example, for a 1,000 sq.ft plot, the total cost would be Rs 1,48,500.

Which Sub Registrar Office covers this street?

The Kanchipuram Joint I Sub Registrar Office covers Wise Presedent Paramasivam Street(Or)nimanthakara Street, located at No.52 Orikkai Madura, Udhayamangalam Village, Near Anna Kudiyiruppu, Kanchipuram -631502.

What is the land classification for this street?

The land classification for Wise Presedent Paramasivam Street(Or)nimanthakara Street is Residential Class II Type - III.