Guideline Value for KANNAIAH NAGAR

Kannaiah Nagar guideline value

The current guideline value of Kannaiah Nagar is Rs 700 per sq.ft, effective from 1 July 2024. This area is located in Ponneri village under the Ponneri SRO, classified as Residential Class II Type - I.

How the guideline value of Kannaiah Nagar has changed

The guideline value for Kannaiah Nagar has undergone several revisions over the years. The earliest recorded figure is from 2012, where the value was Rs 500 per sq.ft. This increased to Rs 469 per sq.ft in 2017, followed by a significant rise to Rs 700 per sq.ft in 2023. The 2024 revision maintained this value at Rs 700 per sq.ft, indicating no change from the previous year. There are no figures available for the revisions in 2002, 2003, and 2007 for this street.

From 2012 to 2017, the guideline value decreased by 6%. However, between 2017 and 2023, it increased by 49%. Overall, from 2012 to 2024, there has been a 40% increase in the guideline value.

Guideline values in Ponneri

Ponneri village has a total of 120 streets under the Ponneri SRO, with guideline values ranging from Rs 201 to Rs 1,200 per sq.ft as of 2024. The median guideline value in this area is Rs 700 per sq.ft, which is equal to the current value of Kannaiah Nagar.

• Kambar Street: Rs 700 per sq.ft (2024)
• Karhtick Nagar: Rs 700 per sq.ft (2024)
• Kamala Nagar: Rs 900 per sq.ft (2024)
• Krishnaswami Mudali Street: Rs 1,200 per sq.ft (2024)
• Jayam Vip City Phase II: Rs 900 per sq.ft (2024)
• Jayam Nagar: Rs 700 per sq.ft (2024)

Stamp duty and registration fee for property in Kannaiah Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 700 per sq.ft, the total guideline value amounts to Rs 7,00,000. The stamp duty at 7% would be Rs 49,000, and the registration fee at 2% would be Rs 14,000, bringing the total to Rs 63,000. 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 Kannaiah Nagar?

The Sub Registrar Office that covers Kannaiah Nagar is the Ponneri Sub Registrar Office, located at 9/5, Taluk Office Road, Ponneri, Chennai-601204. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Ponneri. It is used to determine the stamp duty and registration fees applicable during the registration process. Buyers and sellers must be aware of the guideline value to ensure compliance with local regulations and to accurately calculate the costs involved in the transaction.

When a property is registered, the guideline value serves as a benchmark for the minimum value of the property. This means that the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher, ensuring that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Kannaiah Nagar?

The current guideline value of Kannaiah Nagar is Rs 700 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 2012 to Rs 469 per sq.ft in 2017, then to Rs 700 per sq.ft in 2023 and 2024. There is no recorded figure for the years 2002, 2003, and 2007 for this street.

What is the land classification of Kannaiah Nagar?

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

Where can I find the Sub Registrar Office for Kannaiah Nagar?

The Sub Registrar Office for Kannaiah Nagar is located at 9/5, Taluk Office Road, Ponneri, Chennai-601204. This office handles all registration processes for properties in the area.

How is the stamp duty calculated for properties in Kannaiah Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at Rs 700 per sq.ft, the total guideline value would be Rs 7,00,000, resulting in a stamp duty of Rs 49,000.