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_2 village, under the Ponneri SRO, and is classified as Residential Class II Type - I.

How the guideline value of Kannaiah Nagar has changed

Looking at the historical revisions, the guideline value for Kannaiah Nagar was Rs 469 per sq.ft in 2017. It remained at Rs 700 per sq.ft in the 2023 revision and continues to hold the same value in the 2024 revision. The register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

From 2017 to 2023, there was a significant increase of 49%. However, between 2023 and 2024, there was no change, resulting in an overall increase of 49% from 2017 to 2024.

Guideline values in Ponneri_2

In Ponneri_2, there are 75 streets under the Ponneri SRO that carry a 2024 guideline value ranging from Rs 700 to Rs 1,300 per sq.ft, with a median value of Rs 700 per sq.ft. Kannaiah Nagar’s 2024 figure aligns with this median.

• Karhtick Nagar: Rs 700 per sq.ft (2024)
• Karikrishna Bhatacharya St: Rs 700 per sq.ft (2024)
• Kamarajar Street: Rs 700 per sq.ft (2024)
• Kamakotty Nagar: Rs 700 per sq.ft (2024)
• Kallukadai Medu: Rs 700 per sq.ft (2024)
• Krishnaswami Mudali Street: Rs 1,200 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 would be 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. Please note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kannaiah Nagar?

Kannaiah Nagar falls under the Ponneri Sub Registrar Office, located at 9/5, Taluk Office Road, Ponneri, Chennai-601204. To find your SRO, you can visit find your SRO.

How the guideline value is used when you buy or sell in Ponneri_2

The guideline value is a crucial factor when registering property transactions in Ponneri_2. It determines the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees.

When buying or selling property, the guideline value serves as a benchmark for both parties. It is essential to be aware of the current guideline value to avoid discrepancies during the registration process.

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 much has the guideline value changed since 2017?

Since 2017, the guideline value has increased by 49%, from Rs 469 per sq.ft to Rs 700 per sq.ft.

What is the classification of Kannaiah Nagar?

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

What is the stamp duty rate in Kannaiah Nagar?

The stamp duty rate for property transactions in Kannaiah Nagar is 7% of the guideline value or sale price, whichever is higher.

Where can I find the Ponneri Sub Registrar Office?

The Ponneri Sub Registrar Office is located at 9/5, Taluk Office Road, Ponneri, Chennai-601204. You can find more information about it through the provided link.