Guideline Value for KANNAPPA NAGAR 1ST CROSS STREET

Kannappa Nagar 1st Cross Street guideline value

The current guideline value of Kannappa Nagar 1st Cross Street is Rs 8,250 per sq.ft, effective from 1 July 2024. This street is located in Thiruvanmiyur village and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Kannappa Nagar 1st Cross Street has changed

The guideline value for Kannappa Nagar 1st Cross Street has seen several revisions over the years. Starting from the 2002 revision, the value was Rs 732 per sq.ft. This increased to Rs 810 per sq.ft in 2003, followed by a significant jump to Rs 1,300 per sq.ft in 2007. The 2012 revision saw the value at Rs 7,500 per sq.ft, which then decreased to Rs 5,025 per sq.ft in 2017. The guideline value rose again to Rs 7,500 per sq.ft in 2023, before reaching the current value of Rs 8,250 per sq.ft in 2024.

In terms of changes, the guideline value increased by 10% from 2023 to 2024. There was a notable increase of 49% from 2017 to 2023. The value decreased by 33% from 2012 to 2017, while it saw a remarkable increase of 477% from 2007 to 2012. Additionally, the value rose by 60% from 2003 to 2007, and by 11% from 2002 to 2003. Overall, from 2002 to 2024, the guideline value has increased by 1027%.

Guideline values in Thiruvanmiyur

In Thiruvanmiyur, there are 484 streets under the Chennai South Joint I SRO that carry a 2024 guideline value, ranging from Rs 3,520 to Rs 12,660 per sq.ft. The median guideline value for these streets is Rs 9,900 per sq.ft, placing Kannappa Nagar 1st Cross Street's 2024 figure below this median.

• Kannappa Nagar 1st Main Road: Rs 8,250 per sq.ft (2024)
• Kannappa Nagar: Rs 8,250 per sq.ft (2024)
• Kannappa Nagar 1st Street: Rs 8,250 per sq.ft (2024)
• Kannappa Nagar 2nd Cross Street: Rs 8,250 per sq.ft (2024)
• Kannappa Nagar 2nd Main Road: Rs 8,250 per sq.ft (2024)
• Kannappa Nagar 2nd Street: Rs 8,250 per sq.ft (2024)

Stamp duty and registration fee for property in Kannappa Nagar 1st Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 8,250 per sq.ft, the total guideline value would be Rs 82,50,000. The stamp duty at 7% would amount to Rs 5,77,500, and the registration fee at 2% would be Rs 1,65,000, making the total cost for these fees Rs 7,42,500. 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 accurate calculations.

Which Sub Registrar Office covers Kannappa Nagar 1st Cross Street?

The Sub Registrar Office that covers Kannappa Nagar 1st Cross Street is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. For more information, you can find your SRO.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Thiruvanmiyur. It serves as a benchmark for calculating the stamp duty and registration fees that need to be paid at the time of registration.

When a property is sold, the guideline value helps ensure that the transaction is recorded at a fair value, which aids in maintaining transparency in property transactions. Buyers and sellers should be aware of the guideline value to understand the financial implications of their property dealings.

Frequently asked questions

What is the current guideline value of Kannappa Nagar 1st Cross Street?

The current guideline value of Kannappa Nagar 1st Cross Street is Rs 8,250 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly over the years, starting from Rs 732 per sq.ft in 2002 to Rs 8,250 per sq.ft in 2024, reflecting an overall increase of 1027%.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 82,50,000, the stamp duty would be Rs 5,77,500 and the registration fee would be Rs 1,65,000, totaling Rs 7,42,500.

Which office registers properties in Kannappa Nagar 1st Cross Street?

The Chennai South Joint I Sub Registrar Office is responsible for registering properties in Kannappa Nagar 1st Cross Street, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.

What is the land classification for Kannappa Nagar 1st Cross Street?

The land classification for Kannappa Nagar 1st Cross Street is Residential Class II Type - I, indicating its suitability for residential development.