Guideline Value for KANNAPPA NAGAR 1ST STREET

Kannappa Nagar 1st Street guideline value

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

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

The guideline value for Kannappa Nagar 1st Street has undergone several revisions over the years. Starting from the 2002 revision, the value was Rs 751 per sq.ft. This increased to Rs 831 per sq.ft in 2003, followed by a significant rise to Rs 1,300 per sq.ft in 2007. The value then saw a substantial jump to Rs 7,500 per sq.ft in 2012, before decreasing to Rs 5,025 per sq.ft in 2017. The most recent revisions show an increase to Rs 7,500 per sq.ft in 2023 and a further rise to the current value of Rs 8,250 per sq.ft in 2024.

In terms of percentage changes, the guideline value increased by 10% from 2023 to 2024. There was a notable increase of 49% from 2017 to 2023, while the value decreased by 33% from 2012 to 2017. The increase from 2007 to 2012 was a remarkable 477%, and from 2003 to 2007, it rose by 56%. The value saw a smaller increase of 11% from 2002 to 2003. Overall, from 2002 to 2024, the guideline value has increased by 999%.

Guideline values in Thiruvanmiyur

Thiruvanmiyur village has a total of 484 streets under the Chennai South Joint I SRO, with guideline values ranging from Rs 3,520 to Rs 12,660 per sq.ft. The median guideline value in this area is Rs 9,900 per sq.ft, placing the 2024 guideline value of Kannappa Nagar 1st Street below this median.

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

Stamp duty and registration fee for property in Kannappa Nagar 1st 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, resulting in a total cost of Rs 7,42,500. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kannappa Nagar 1st Street?

The Sub Registrar Office that covers Kannappa Nagar 1st 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. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Thiruvanmiyur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the state receives appropriate revenue from stamp duty and registration fees.

When buying or selling property, the guideline value is compared with the sale price. The higher of the two figures will be used to calculate the applicable stamp duty and registration fees, ensuring compliance with legal requirements.

Frequently asked questions

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

The current guideline value of Kannappa Nagar 1st 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 seen several revisions, starting from Rs 751 per sq.ft in 2002 to Rs 8,250 per sq.ft in 2024, reflecting an overall increase of 999% over the years.

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

Kannappa Nagar 1st Street is classified under Residential Class II Type - I, indicating its use for residential purposes.

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 handles registrations for Kannappa Nagar 1st Street?

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