Guideline Value for KANNADASAN NAGAR EXTN

Kannadasan Nagar Extn guideline value

The current guideline value of Kannadasan Nagar Extn is Rs 1,650 per sq.ft, effective from 1 July 2024. This property is located in Pallikaranai village under the Chennai South Joint I SRO, and it falls under the Residential Class IV Type - I land classification.

How the guideline value of Kannadasan Nagar Extn has changed

The guideline value of Kannadasan Nagar Extn has undergone several revisions over the years. The earliest recorded revision was in 2007, where the value was Rs 500 per sq.ft. This figure saw a significant increase to Rs 1,500 per sq.ft in the 2012 revision, marking a 200% rise. There are no figures available for the years 2002, 2003, 2017, and 2023 for this street.

In the most recent 2024 revision, the guideline value increased to Rs 1,650 per sq.ft, which represents a 10% increase from the 2012 figure. Overall, from 2007 to 2024, the guideline value has increased by 230%.

Guideline values in Pallikaranai

Pallikaranai village has a total of 749 streets under the Chennai South Joint I SRO, with guideline values ranging from Rs 1,110 to Rs 8,580 per sq.ft. The median guideline value for these streets is Rs 1,650 per sq.ft, which matches the 2024 figure for Kannadasan Nagar Extn.

• Kannadasan Nagar: Rs 1,650 per sq.ft (2024)
• Kannabiran Nagar Main Road: Rs 1,980 per sq.ft (2024)
• Kannabiran Nagar Ext: Rs 1,980 per sq.ft (2024)
• Kannabiran Nagar 1st Main Road: Rs 1,980 per sq.ft (2024)
• Kannabiran Koil Street: Rs 1,980 per sq.ft (2024)
• Kannadhasan Street: Rs 1,320 per sq.ft (2024)

Stamp duty and registration fee for property in Kannadasan Nagar Extn

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value would be Rs 16,50,000. The stamp duty at 7% would amount to Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, totaling 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 details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kannadasan Nagar Extn?

The Sub Registrar Office that covers Kannadasan Nagar Extn is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Pallikaranai. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid. Buyers and sellers must be aware of the guideline value to ensure compliance with local regulations.

When a property is sold, the registration office uses the guideline value to calculate the applicable duties. This value helps in maintaining transparency and standardization in property transactions, ensuring that both parties are aware of the financial obligations involved.

Frequently asked questions

What is the current guideline value of Kannadasan Nagar Extn?

The current guideline value of Kannadasan Nagar Extn 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 500 per sq.ft in 2007 to Rs 1,650 per sq.ft in 2024, reflecting an overall increase of 230%.

What is the land classification for Kannadasan Nagar Extn?

Kannadasan Nagar Extn falls under the Residential Class IV Type - I land classification.

Where can I find the Sub Registrar Office for Kannadasan Nagar Extn?

The Sub Registrar Office for Kannadasan Nagar Extn is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.

How is the stamp duty calculated for properties in Kannadasan Nagar Extn?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 16,50,000, the stamp duty at 7% would be Rs 1,15,500.