Guideline Value for KANNAN BALA NAGAR

Kannan Bala Nagar guideline value

The current guideline value of Kannan Bala Nagar is Rs 5,500 per sq.ft, effective from 1 July 2024. This area is located in Arumbakkam village under the Kodambakkam SRO and is classified as Residential Special Type - III.

How the guideline value of Kannan Bala Nagar has changed

The guideline value for Kannan Bala Nagar has seen several revisions over the years. The earliest recorded value was Rs 1,350 per sq.ft in 2007. This value increased significantly to Rs 5,000 per sq.ft in 2012, marking a rise of 270%. However, it decreased to Rs 3,350 per sq.ft in 2017, a drop of 33%. The value then rose again to Rs 5,000 per sq.ft in 2023, followed by a further increase to the current value of Rs 5,500 per sq.ft in 2024, which is a 10% increase from the previous year. The register has no figures for the years 2002 and 2003 for this street.

Overall, from the 2007 revision to the current 2024 revision, the guideline value has increased by 307%. The changes between the revisions highlight the fluctuations in property valuation in this area, with significant increases and decreases observed over the years.

Guideline values in Arumbakkam

In Arumbakkam, there are 391 streets under the Kodambakkam SRO that carry a 2024 guideline value, ranging from Rs 3,300 to Rs 16,500 per sq.ft, with a median value of Rs 6,000 per sq.ft. The guideline value for Kannan Bala Nagar is below this median.

• Kannaki Street: Rs 4,400 per sq.ft (2024)
• Kannappan Nagar: Rs 5,300 per sq.ft (2024)
• Kannayiram Street: Rs 3,300 per sq.ft (2024)
• Kalkinagar Main Road: Rs 5,000 per sq.ft (2024)
• Kalki Nagar I St Street: Rs 4,700 per sq.ft (2024)
• Kalki Nagar II Nd Street: Rs 4,700 per sq.ft (2024)

Stamp duty and registration fee for property in Kannan Bala Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value amounts to Rs 55,00,000. The stamp duty at 7% would be Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, bringing the total fees 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.

For more information, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kannan Bala Nagar?

Kannan Bala Nagar falls under the jurisdiction of the Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Arumbakkam. It serves as a benchmark for determining the minimum value of the property, ensuring that the transaction is recorded at a fair price as per government standards.

When registering a property, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Kannan Bala Nagar?

The current guideline value of Kannan Bala Nagar 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 1,350 per sq.ft in 2007 to Rs 5,500 per sq.ft in 2024, marking a total increase of 307% over the years.

What is the land classification for Kannan Bala Nagar?

Kannan Bala Nagar is classified as Residential Special Type - III, indicating its designation for residential purposes.

Where is the Kodambakkam Sub Registrar Office located?

The Kodambakkam Sub Registrar Office is located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026.

How is stamp duty calculated for properties in Kannan Bala Nagar?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. Additionally, a registration fee of 2% is applicable on the same basis.