Guideline Value for KANNAN NAGAR

Kannan Nagar guideline value

The current guideline value of Kannan Nagar, located in Vichoor village under the Salavakkam SRO, is Rs 100 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class I Type - I land classification.

How the guideline value of Kannan Nagar has changed

The guideline value for Kannan Nagar has seen several revisions over the years. The 2012 revision set the value at Rs 100 per sq.ft, which remained unchanged until the 2023 revision, also at Rs 100 per sq.ft. The 2017 revision, however, marked a significant change, reducing the value to Rs 67 per sq.ft, which was a decrease of 33% from the 2012 figure. Following this, the value increased by 49% to Rs 100 per sq.ft in the 2023 revision, and it has remained the same through to the 2024 revision.

Notably, there are no figures available for the years 2002, 2003, and 2007 in the register for Kannan Nagar. Overall, from the 2012 revision to the 2024 revision, the guideline value has not changed, maintaining at Rs 100 per sq.ft.

Guideline values in Vichoor

In Vichoor village, there are four streets under the Salavakkam SRO that have a guideline value for 2024, ranging from Rs 100 to Rs 200 per sq.ft. The median guideline value for these streets is Rs 100 per sq.ft, which is equal to the current figure for Kannan Nagar.

• Kannan Nagar Phase-1: Rs 100 per sq.ft (2024)
• Pallar Greens: Rs 200 per sq.ft (2024)
• Rpg Sriman City: Rs 100 per sq.ft (2024)

Stamp duty and registration fee for property in Kannan Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 100 per sq.ft, the total guideline value would be Rs 1,00,000. The stamp duty at 7% would amount to Rs 7,000, and the registration fee at 2% would be Rs 2,000, making the total cost for these fees Rs 9,000. 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 accurate calculations based on your specific property details.

Which Sub Registrar Office covers Kannan Nagar?

The Sub Registrar Office that covers Kannan Nagar is the Salavakkam Sub Registrar Office, located at 2/1a, Thottakkara Street, Salavakkam, 603 107, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Vichoor. It serves as a benchmark for determining the stamp duty and registration fees applicable when buying or selling property in the area.

When a property is registered, the guideline value will be compared to the sale price, and the duty is charged on whichever amount is higher. This ensures that the state government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Kannan Nagar?

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

How has the guideline value changed over the years?

The guideline value has remained at Rs 100 per sq.ft since 2012, with a decrease to Rs 67 per sq.ft in 2017, followed by an increase back to Rs 100 per sq.ft in 2023. There are no figures available for the years 2002, 2003, and 2007.

What is the land classification of Kannan Nagar?

Kannan Nagar falls under the Residential Class I Type - I land classification, which indicates its suitability for residential development.

What are the stamp duty and registration fees for properties in Kannan Nagar?

The stamp duty is charged at 7%, and the registration fee is at 2% of the guideline value or sale price, whichever is higher. For a 1,000 sq.ft plot, the total fees would amount to Rs 9,000.

Where is the Sub Registrar Office for Kannan Nagar located?

The Salavakkam Sub Registrar Office is located at 2/1a, Thottakkara Street, Salavakkam, 603 107, Chengalpattu registration zone.