Guideline Value for KANNAPPA NAGAR 2ND STREET

Kannappa Nagar 2nd Street guideline value

The current guideline value of Kannappa Nagar 2nd 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 is classified as Residential Class II Type - I.

How the guideline value of Kannappa Nagar 2nd Street has changed

The guideline value for Kannappa Nagar 2nd Street has seen several revisions over the years. In 2002, the value was Rs 751 per sq.ft, which increased to Rs 831 per sq.ft in 2003. Following this, the value rose significantly to Rs 1,300 per sq.ft in 2007, and then to Rs 7,500 per sq.ft in 2012. However, it dropped to Rs 5,025 per sq.ft in 2017. The value then increased to Rs 7,500 per sq.ft in 2023, before reaching the current value of Rs 8,250 per sq.ft in 2024.

Between the revisions, the most notable changes include a 477% increase from 2007 to 2012, followed by a 49% increase from 2017 to 2023. The latest revision from 2023 to 2024 shows a 10% increase. Overall, from 2002 to 2024, the guideline value has increased by 999%.

Guideline values in Thiruvanmiyur

In Thiruvanmiyur, there are 484 streets under the Chennai South Joint I SRO with a 2024 guideline value ranging from Rs 3,520 to Rs 12,660 per sq.ft, with a median of Rs 9,900 per sq.ft. The guideline value for Kannappa Nagar 2nd Street is below this median.

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

Stamp duty and registration fee for property in Kannappa Nagar 2nd 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, totaling Rs 7,42,500. It is important to note that 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 details.

Which Sub Registrar Office covers Kannappa Nagar 2nd Street?

The Sub Registrar Office that covers Kannappa Nagar 2nd 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 in the registration process when buying or selling property in Thiruvanmiyur. It serves as a benchmark for determining the stamp duty and registration fees, which are calculated based on the guideline value or the sale price, whichever is higher.

When a property transaction occurs, the guideline value ensures that the property is registered at a fair value, which helps in maintaining transparency in real estate transactions. Buyers and sellers should always refer to the latest guideline value to understand their financial obligations during the registration process.

Frequently asked questions

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

The current guideline value of Kannappa Nagar 2nd 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, with the most recent increase being 10% from Rs 7,500 per sq.ft in 2023 to Rs 8,250 per sq.ft in 2024.

What is the land classification of Kannappa Nagar 2nd Street?

Kannappa Nagar 2nd Street is classified as Residential Class II Type - I.

What are the stamp duty and registration fees for a property in Kannappa Nagar 2nd Street?

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 Sub Registrar Office covers Kannappa Nagar 2nd Street?

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