Guideline Value for KANNAGI ST

Kannagi St guideline value

The current guideline value of Kannagi St in Paleripattu village is Rs 990 per sq.ft, effective from 1 July 2024. This street falls under the Avadi SRO and is classified as Residential Class II Type - I.

How the guideline value of Kannagi St has changed

The guideline value for Kannagi St has seen several revisions over the years. The earliest recorded figure is from 2012, which was Rs 900 per sq.ft. In 2017, the value decreased to Rs 603 per sq.ft, marking a decline of 33%. However, from 2017 to 2023, there was a significant increase of 49%, bringing the value up to Rs 900 per sq.ft. The latest revision in 2024 set the guideline value at Rs 990 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that there are no recorded figures for Kannagi St in the years 2002, 2003, and 2007. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Paleripattu

In Paleripattu, there are 111 streets under the Avadi SRO that carry a 2024 guideline value ranging from Rs 801 to Rs 4,200 per sq.ft. The median guideline value is Rs 990 per sq.ft, which is equal to the 2024 figure for Kannagi St.

• Kamaraj Nagar Main Road: Rs 1,980 per sq.ft (2024)
• Kamaraj Nagar 9th St: Rs 1,980 per sq.ft (2024)
• Kamaraj Nagar 8th St: Rs 1,980 per sq.ft (2024)
• Kamaraj Nagar 7th St: Rs 1,980 per sq.ft (2024)
• Kamaraj Nagar 6th St: Rs 1,980 per sq.ft (2024)
• Kamaraj Nagar 5th St: Rs 1,980 per sq.ft (2024)

Stamp duty and registration fee for property in Kannagi St

For a 1,000 sq.ft plot at the current guideline value of Rs 990 per sq.ft, the total guideline value would be Rs 9,90,000. The stamp duty at 7% would amount to Rs 69,300, while the registration fee at 2% would be Rs 19,800, making the total cost for these fees Rs 89,100. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kannagi St?

The Sub Registrar Office that covers Kannagi St is the Avadi Sub Registrar Office, located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Paleripattu. It serves as a benchmark for determining the minimum value of a property during registration. Buyers and sellers must consider this value to ensure compliance with legal requirements during the sale process.

When registering a property, the guideline value is used to calculate applicable fees such as stamp duty and registration charges. This ensures that both parties adhere to the regulations set by the state, making the transaction transparent and legally binding.

Frequently asked questions

What is the current guideline value of Kannagi St?

The current guideline value of Kannagi St is Rs 990 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Over the years, the guideline value for Kannagi St has undergone several revisions, with the most recent being an increase from Rs 900 per sq.ft in 2023 to Rs 990 per sq.ft in 2024.

What is the land classification for Kannagi St?

Kannagi St is classified as Residential Class II Type - I, indicating its suitability for residential development.

Where can I find the Sub Registrar Office for Kannagi St?

The Avadi Sub Registrar Office covers Kannagi St and is located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone.

How is the stamp duty calculated for properties in Kannagi St?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For instance, a property valued at Rs 9,90,000 would incur a stamp duty of Rs 69,300 at 7%.