Guideline Value for KANNAMMAL NAGAR

Kannammal Nagar guideline value

The current guideline value of Kannammal Nagar is Rs 2,160 per sq.ft, effective from 1 July 2024. This area is located in Nemilicherry village, under the Pallavaram Sub Registrar Office (SRO). The land classification for this locality is Residential Class II Type - I.

How the guideline value of Kannammal Nagar has changed

The guideline value for Kannammal Nagar has undergone several revisions over the years. The 2012 revision set the value at Rs 2,000 per sq.ft, which was followed by a decrease to Rs 1,340 per sq.ft in the 2017 revision. The 2023 revision increased the value to Rs 2,000 per sq.ft, and the most recent 2024 revision has raised it further to Rs 2,160 per sq.ft, marking an 8% increase from the previous year.

In total, from the 2012 revision to the 2024 revision, the guideline value has increased by 8%. The changes between the revisions are significant, with a 49% increase from 2017 to 2023, and a notable decrease of 33% from 2012 to 2017. It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Nemilicherry

In Nemilicherry, there are 172 streets under the Pallavaram SRO with a 2024 guideline value ranging from Rs 1,100 to Rs 3,300 per sq.ft. The median guideline value is Rs 2,160 per sq.ft, which is the same as that of Kannammal Nagar.

• Kanni Koil Street: Rs 2,160 per sq.ft (2024)
• Karigalan Street: Rs 2,160 per sq.ft (2024)
• Kambar Street: Rs 2,200 per sq.ft (2024)
• Kamaraj Street: Rs 2,200 per sq.ft (2024)
• Kattabomman Street: Rs 2,160 per sq.ft (2024)
• Kavery Street: Rs 2,160 per sq.ft (2024)

Stamp duty and registration fee for property in Kannammal Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,160 per sq.ft, the total guideline value would be Rs 21,60,000. The stamp duty at 7% would amount to Rs 1,51,200, and the registration fee at 2% would be Rs 43,200, bringing the total to Rs 1,94,400. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kannammal Nagar?

The Sub Registrar Office that covers Kannammal Nagar is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Nemilicherry. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two values is used to calculate the stamp duty. This ensures that the government receives the appropriate revenue based on the property's value.

Frequently asked questions

What is the current guideline value of Kannammal Nagar?

The current guideline value of Kannammal Nagar is Rs 2,160 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then back to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,160 per sq.ft in 2024.

What is the land classification for Kannammal Nagar?

Kannammal Nagar is classified as Residential Class II Type - I, indicating its designation for residential use.

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

The Sub Registrar Office for Kannammal Nagar is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

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

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property valued at Rs 21,60,000 would incur a stamp duty of Rs 1,51,200 at a rate of 7%.