Guideline Value for KANNAN NAGAR/STREET

Kannan Nagar/Street guideline value

The current guideline value of Kannan Nagar/Street in Chinnasekkadu village is Rs 1,300 per sq.ft, effective from 1 July 2024. This property falls under the Thiruvottiyur SRO and is classified as Residential Class I Type - I.

How the guideline value of Kannan Nagar/Street has changed

The guideline value for Kannan Nagar/Street has seen several revisions over the years. In 2003, the guideline value was Rs 152 per sq.ft, which increased significantly to Rs 500 per sq.ft in 2007. This was followed by a substantial rise to Rs 1,200 per sq.ft in 2012, but then it decreased to Rs 804 per sq.ft in 2017. The value then rose again to Rs 1,200 per sq.ft in 2023, and the most recent revision in 2024 set it at Rs 1,300 per sq.ft, marking an 8% increase from the previous year.

Overall, from 2003 to 2024, the guideline value has increased by 755%. The register has no figure for the year 2002 for this street.

Guideline values in Chinnasekkadu

In Chinnasekkadu, there are 49 streets under the Thiruvottiyur SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 2,200 per sq.ft, with a median value of Rs 1,100 per sq.ft. Kannan Nagar/Street's 2024 figure of Rs 1,300 per sq.ft is above this median.

• Kannayiram Street: Rs 1,000 per sq.ft (2024)
• Kamaraj Saiai: Rs 2,200 per sq.ft (2024)
• Kamalammal Nagar: Rs 1,001 per sq.ft (2024)
• Kalaignar Karunanithi Street: Rs 1,300 per sq.ft (2024)
• Kakkanpuram / Radha Nagar / Kannapiran Street / Kannapiran Koil Street: Rs 1,001 per sq.ft (2024)
• Krishnan Street / Krishnan Koil Street: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Kannan Nagar/Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value would be Rs 13,00,000. The stamp duty at 7% would amount to Rs 91,000, and the registration fee at 2% would be Rs 26,000, bringing the total fees to Rs 1,17,000. 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 the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kannan Nagar/Street?

Kannan Nagar/Street is covered by the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for more details.

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

The guideline value is a critical factor when registering property transactions in Chinnasekkadu. It serves as the basis for calculating stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property sales.

Frequently asked questions

What is the current guideline value of Kannan Nagar/Street?

The current guideline value of Kannan Nagar/Street is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 152 per sq.ft in 2003 to Rs 1,300 per sq.ft in 2024, reflecting an overall increase of 755% over the years.

What are the stamp duty and registration fees for Kannan Nagar/Street?

The stamp duty for a 1,000 sq.ft plot at the current guideline value is Rs 91,000, and the registration fee is Rs 26,000, totaling Rs 1,17,000.

Which Sub Registrar Office covers this area?

The Thiruvottiyur Sub Registrar Office covers Kannan Nagar/Street, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.

What is the land classification of Kannan Nagar/Street?

Kannan Nagar/Street is classified as Residential Class I Type - I, indicating its suitability for residential development.