Guideline Value for KANNAMMAPET

Kannammapet guideline value

The current guideline value for Kannammapet is Rs 5,500 per sq.ft, effective from 1 July 2024. This area is part of Tnagar village, under the Thiyagaraya nagar SRO, and is classified as Residential Class III Type - II.

How the guideline value of Kannammapet has changed

The guideline value for Kannammapet has seen several revisions over the years. In 2012, the value was Rs 5,000 per sq.ft, which decreased to Rs 3,350 per sq.ft in 2017. However, from 2017 to 2023, the value increased significantly to Rs 5,000 per sq.ft, marking a 49% rise. The most recent revision in 2024 set the value at Rs 5,500 per sq.ft, reflecting a 10% increase from the previous year.

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

Guideline values in Tnagar

In Tnagar, there are 262 streets under the Thiyagaraya nagar SRO with a 2024 guideline value ranging from Rs 4,400 to Rs 27,500 per sq.ft. The median value for these streets is Rs 11,000 per sq.ft, placing Kannammapet's 2024 figure below the median.

• Kannadasan Street / Kannadasan Road: Rs 17,600 per sq.ft (2024)
• Kanniah Street: Rs 6,600 per sq.ft (2024)
• Kamaraj Colony: Rs 5,500 per sq.ft (2024)
• Kamalabai Street: Rs 8,300 per sq.ft (2024)
• Kaliur Srinivasa Chari Road: Rs 5,500 per sq.ft (2024)
• Kodambakkam High Road: Rs 22,000 per sq.ft (2024)

Stamp duty and registration fee for property in Kannammapet

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value would be Rs 55,00,000. The stamp duty at 7% would amount to Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, bringing the total to Rs 4,95,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Kannammapet?

The Sub Registrar Office that covers Kannammapet is the Thiyagaraya nagar Sub Registrar Office, located at 27/14, Vetnari Hospital Road, Panpet, Nandhanam, Chennai-35. You can find your SRO for additional details.

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

The guideline value is a crucial factor when registering property transactions in Tnagar. It establishes a baseline for determining the stamp duty and registration fees that must be paid during the transaction.

When buying or selling property, the guideline value ensures that the transaction is recorded accurately, reflecting the official value of the property. This helps maintain transparency and standardization in property dealings.

Frequently asked questions

What is the current guideline value of Kannammapet?

The current guideline value of Kannammapet is Rs 5,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 5,000 per sq.ft in 2012 to Rs 3,350 per sq.ft in 2017, then increased to Rs 5,000 per sq.ft in 2023, and finally to Rs 5,500 per sq.ft in 2024.

What is the land classification of Kannammapet?

Kannammapet is classified as Residential Class III Type - II.

Where can I find the registration office for Kannammapet?

The registration office for Kannammapet is the Thiyagaraya nagar Sub Registrar Office, located at 27/14, Vetnari Hospital Road, Panpet, Nandhanam, Chennai-35.

How is stamp duty calculated for properties in Kannammapet?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 55,00,000, the stamp duty would be Rs 3,85,000 at a rate of 7%.