Guideline Value for KANNAPPA NAGAR 2ND CROSS STREET

Kannappa Nagar 2nd Cross Street guideline value

The current guideline value of Kannappa Nagar 2nd 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 2nd Cross Street has changed

The guideline value for Kannappa Nagar 2nd 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, marking an 11% rise. The value then saw a significant jump to Rs 1,300 per sq.ft in 2007, which was a 60% increase. In 2012, the value adjusted to Rs 7,500 per sq.ft, reflecting a notable increase of 477%. However, this figure dropped to Rs 5,025 per sq.ft in 2017, a decrease of 33%. The value then rose again to Rs 7,500 per sq.ft in 2023, followed by the current rate of Rs 8,250 per sq.ft in 2024, which is a 10% increase.

Overall, from 2002 to 2024, the guideline value has increased by 1027%. The register has no figure for years other than those listed above, specifically for the years not mentioned in the revisions.

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 value for these streets is Rs 9,900 per sq.ft, placing the 2024 figure for Kannappa Nagar 2nd Cross Street below that median.

• Kannappa Nagar 1st Street: Rs 8,250 per sq.ft (2024)
• Kannappa Nagar 2nd Main Road: Rs 8,250 per sq.ft (2024)
• Kannappa Nagar 1st Main Road: Rs 8,250 per sq.ft (2024)
• Kannappa Nagar 2nd Street: Rs 8,250 per sq.ft (2024)
• Kannappa Nagar 1st Cross Street: Rs 8,250 per sq.ft (2024)
• Kannappa Nagar 3rd Cross Street: Rs 8,250 per sq.ft (2024)

Stamp duty and registration fee for property in Kannappa Nagar 2nd Cross Street

For a 1,000 sq.ft plot at the current rate of Rs 8,250 per sq.ft, the guideline value amounts to Rs 82,50,000. The stamp duty at 7% would be Rs 5,77,500, and the registration fee at 2% would be Rs 1,65,000, totaling Rs 7,42,500. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kannappa Nagar 2nd Cross Street?

The Sub Registrar Office that covers Kannappa Nagar 2nd 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. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process of property transactions in Thiruvanmiyur. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these charges are based on a standardized value set by the government.

When buying or selling property, the guideline value helps determine the minimum price at which a property can be registered. This means that buyers and sellers need to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Kannappa Nagar 2nd Cross Street?

The current guideline value of Kannappa Nagar 2nd 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 from Rs 732 per sq.ft in 2002 to Rs 8,250 per sq.ft in 2024, reflecting an overall increase of 1027% over this period.

What is the stamp duty for property in Kannappa Nagar 2nd Cross Street?

The stamp duty for property in Kannappa Nagar 2nd Cross Street is 7% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Kannappa Nagar 2nd Cross Street located?

The Sub Registrar Office for Kannappa Nagar 2nd Cross Street is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.

What other streets have the same guideline value in Thiruvanmiyur?

Other streets in Thiruvanmiyur with the same guideline value of Rs 8,250 per sq.ft include Kannappa Nagar 1st Street, Kannappa Nagar 2nd Main Road, Kannappa Nagar 1st Main Road, Kannappa Nagar 2nd Street, Kannappa Nagar 1st Cross Street, and Kannappa Nagar 3rd Cross Street.