Guideline Value for KANNAPPA GARDEN

Kannappa Garden guideline value

The current guideline value of Kannappa Garden is Rs 550 per sq.ft, effective from 1 July 2024. This area is located in Vellanoor-1 village under the Avadi SRO, classified as Residential Class II Type - I.

How the guideline value of Kannappa Garden has changed

The guideline value for Kannappa Garden has undergone several revisions over the years. The 2017 revision set the value at Rs 335 per sq.ft, which increased to Rs 500 per sq.ft in 2023. The most recent revision in 2024 raised the value to Rs 550 per sq.ft, marking a 10% increase from the previous year. Overall, from 2017 to 2024, the guideline value has increased by 64%.

It is important to note that there are no figures available for the revisions in 2002, 2003, 2007, and 2012 for this street. The significant changes reflect the adjustments made in the valuation process over the years.

Guideline values in Vellanoor-1

In Vellanoor-1, there are 34 streets under the Avadi SRO with a 2024 guideline value ranging from Rs 440 to Rs 1,980 per sq.ft. The median guideline value for the area is Rs 555 per sq.ft, placing Kannappa Garden's value below this median.

• Krishna Nagar: Rs 555 per sq.ft (2024)
• Jayalakshmi Nagar: Rs 555 per sq.ft (2024)
• Lakshmi Nagar: Rs 555 per sq.ft (2024)
• Ganga Nagar Annex: Rs 555 per sq.ft (2024)
• Ganesh Nagar: Rs 555 per sq.ft (2024)
• Ganapathy Nagar: Rs 550 per sq.ft (2024)

Stamp duty and registration fee for property in Kannappa Garden

For a 1,000 sq.ft plot at the current guideline value of Rs 550 per sq.ft, the total guideline value would be Rs 5,50,000. The stamp duty at 7% would be Rs 38,500, and the registration fee at 2% would be Rs 11,000, bringing the total fees to Rs 49,500. It is essential to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kannappa Garden?

The Sub Registrar Office that covers Kannappa Garden is the Avadi Sub Registrar Office, located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone.

You can find your SRO for more information.

How the guideline value is used when you buy or sell in Vellanoor-1

The guideline value is a crucial factor in the registration process when buying or selling property in Vellanoor-1. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When you register a property, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the registration reflects the true value of the property being transferred.

Frequently asked questions

What is the current guideline value of Kannappa Garden?

The current guideline value of Kannappa Garden is Rs 550 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 335 per sq.ft in 2017 to Rs 500 per sq.ft in 2023, and then to Rs 550 per sq.ft in 2024, reflecting an overall increase of 64% from 2017 to 2024.

What is the median guideline value in Vellanoor-1?

The median guideline value in Vellanoor-1 is Rs 555 per sq.ft, which is higher than the current value of Kannappa Garden.

What are the stamp duty and registration fees for a property in Kannappa Garden?

For a property valued at Rs 5,50,000, the stamp duty would be Rs 38,500, and the registration fee would be Rs 11,000, totaling Rs 49,500.

Where can I find the Sub Registrar Office for Kannappa Garden?

The Sub Registrar Office for Kannappa Garden is located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone.