Guideline Value for KANNAMMAL STREET NARASIMMAN NAGAR (WARD -21)

Kannammal Street Narasimman Nagar (Ward -21) guideline value

The current guideline value of Kannammal Street Narasimman Nagar (Ward -21) is Rs 880 per sq.ft, effective from 1 July 2024. This street is located in Potheri village and falls under the Chengleput Joint II SRO. The land classification for this area is Residential Class I Type - II.

How the guideline value of Kannammal Street Narasimman Nagar (Ward -21) has changed

The guideline value for Kannammal Street Narasimman Nagar has undergone several revisions over the years. The 2012 revision set the value at Rs 800 per sq.ft, which was then decreased to Rs 536 per sq.ft in the 2017 revision. However, this was followed by a significant increase to Rs 800 per sq.ft in the 2023 revision, and the latest revision in 2024 has raised it further to Rs 880 per sq.ft, marking a 10% increase from the previous year.

From 2017 to 2023, there was a notable increase of 49%. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Potheri

Potheri village has a total of 129 streets under the Chengleput Joint II SRO, with guideline values ranging from Rs 440 to Rs 2,970 per sq.ft. The median guideline value in this area is Rs 770 per sq.ft, making the 2024 figure for Kannammal Street Narasimman Nagar above this median.

• Kannagi Street (Ward-21): Rs 660 per sq.ft (2024)
• Kambar Street (Ward-21): Rs 660 per sq.ft (2024)
• Kambar Street (Ward-20): Rs 1,100 per sq.ft (2024)
• Karukkan Thoppu (Ward-21): Rs 660 per sq.ft (2024)
• Kamatchi Nagar (Val): Rs 880 per sq.ft (2024)
• Kamarajar Street (Ward-21): Rs 660 per sq.ft (2024)

Stamp duty and registration fee for property in Kannammal Street Narasimman Nagar (Ward -21)

For a 1,000 sq.ft plot at the current guideline value of Rs 880 per sq.ft, the total guideline value would be Rs 8,80,000. The stamp duty at 7% would amount to Rs 61,600, and the registration fee at 2% would be Rs 17,600, totaling Rs 79,200. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kannammal Street Narasimman Nagar (Ward -21)?

The Sub Registrar Office that covers Kannammal Street Narasimman Nagar (Ward -21) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone. You can find your SRO for more information.

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

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

This value ensures that the government receives appropriate revenue from property transactions. Buyers and sellers must be aware of the guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Kannammal Street Narasimman Nagar?

The current guideline value of Kannammal Street Narasimman Nagar (Ward -21) is Rs 880 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions, with the most recent increase being from Rs 800 per sq.ft in 2023 to Rs 880 per sq.ft in 2024, a 10% increase.

What is the land classification for this area?

The land classification for Kannammal Street Narasimman Nagar is Residential Class I Type - II.

Where can I find the Chengleput Joint II Sub Registrar Office?

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone.

How is the stamp duty calculated for property transactions?

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 880 per sq.ft, the total guideline value would be Rs 8,80,000, leading to a stamp duty of Rs 61,600.