Guideline Value for KANNAN NAGAR- EXT

Kannan Nagar- Ext guideline value

The current guideline value of Kannan Nagar- Ext is Rs 100 per sq.ft, effective from the 2024 revision, which will take effect on 1 July 2024. This area falls under Kakkavakkam village and is classified as Residential Class I Type - I. The relevant Sub Registrar Office for this area is Oothukkottai SRO.

How the guideline value of Kannan Nagar- Ext has changed

The guideline value for Kannan Nagar- Ext has seen several revisions over the years. In the 2012 revision, the value was set at Rs 75 per sq.ft. This increased to Rs 50 per sq.ft in the 2017 revision, followed by a significant rise to Rs 100 per sq.ft in the 2023 revision. The most recent revision in 2024 maintains this value at Rs 100 per sq.ft. The register has no figures for the years 2002, 2003, and 2007.

From 2012 to 2017, there was a decrease of 33%, but from 2017 to 2023, the value increased by 100%. Overall, from 2012 to 2024, there has been a 33% increase in the guideline value.

Guideline values in Kakkavakkam

In Kakkavakkam, Kannan Nagar- Ext shares the same guideline value of Rs 100 per sq.ft as Kannan Nagar. Below are the guideline values for other streets in Kakkavakkam:

• Kannan Nagar: Rs 100 per sq.ft (2024)

Stamp duty and registration fee for property in Kannan Nagar- Ext

For a 1,000 sq.ft plot at the current rate of Rs 100 per sq.ft, the guideline value amounts to Rs 1,00,000. The stamp duty at 7% would be Rs 7,000, and the registration fee at 2% would be Rs 2,000, making the total Rs 9,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kannan Nagar- Ext?

The Sub Registrar Office that covers Kannan Nagar- Ext is the Oothukkottai Sub Registrar Office, located near the government hospital in Uthukottai, Chennai 602026. You can find your SRO for more information.

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

The guideline value is crucial during the registration process of property transactions in Kakkavakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when a property is bought or sold.

When a buyer approaches the registration office, the guideline value is assessed to calculate the applicable duties. This ensures that the transaction is recorded accurately and that the necessary fees are collected based on the established values.

Frequently asked questions

What is the current guideline value of Kannan Nagar- Ext?

The current guideline value of Kannan Nagar- Ext is Rs 100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 75 per sq.ft in 2012 to Rs 50 per sq.ft in 2017, then to Rs 100 per sq.ft in 2023, and remains at Rs 100 per sq.ft for the 2024 revision.

What is the land classification for Kannan Nagar- Ext?

Kannan Nagar- Ext is classified as Residential Class I Type - I.

Where is the Oothukkottai Sub Registrar Office located?

The Oothukkottai Sub Registrar Office is located near the government hospital in Uthukottai, Chennai 602026.

How is the stamp duty calculated for properties in Kannan Nagar- Ext?

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 100 per sq.ft, the total guideline value would be Rs 1,00,000, leading to a stamp duty of Rs 7,000.