Guideline Value for KANNAPPA NAGAR 4TH STREET

Kannappa Nagar 4th Street guideline value

The current guideline value of Kannappa Nagar 4th 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 4th Street has changed

The guideline value for Kannappa Nagar 4th 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, marking an increase of 11%. The value further rose to Rs 1,300 per sq.ft in 2007, reflecting a significant increase of 56%. In 2012, the guideline value was revised to Rs 7,500 per sq.ft, a substantial increase of 477% from the previous revision. However, between 2017 and 2023, the value increased by 49% from Rs 5,025 per sq.ft to Rs 7,500 per sq.ft, and the latest revision in 2024 set the value at Rs 8,250 per sq.ft, which is a 10% increase from the previous year.

It is important to note that there are no figures available for the revisions in years other than those listed above. The overall change from 2002 to 2024 shows an increase of 999% in the guideline value for this street.

Guideline values in Thiruvanmiyur

In Thiruvanmiyur, there are a total of 484 streets under the Chennai South Joint I SRO that carry a 2024 guideline value. These values range from Rs 3,520 to Rs 12,660 per sq.ft, with a median value of Rs 9,900 per sq.ft. The guideline value of Kannappa Nagar 4th Street at Rs 8,250 per sq.ft is below this median.

• Kannappa Nagar 4th Cross Street: Rs 8,250 per sq.ft (2024)
• Kannappa Nagar Extn: Rs 8,250 per sq.ft (2024)
• Kannappa Nagar 3rd Street: Rs 8,250 per sq.ft (2024)
• Kannappa Nagar 3rd Main Road: Rs 8,250 per sq.ft (2024)
• Kannappa Nagar 3rd Cross Street: 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 4th 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, while the registration fee at 2% would be Rs 1,65,000. Together, the total cost for stamp duty and registration would be 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 our stamp duty and registration fee calculator for more assistance.

Which Sub Registrar Office covers Kannappa Nagar 4th Street?

The Sub Registrar Office that covers Kannappa Nagar 4th 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 when buying or selling property in Thiruvanmiyur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded at a fair value.

When a property is sold, the buyer and seller must consider the guideline value to calculate the applicable stamp duty and registration fees. This ensures that all transactions comply with the regulations set forth by the local authorities.

Frequently asked questions

What is the current guideline value of Kannappa Nagar 4th Street?

The current guideline value of Kannappa Nagar 4th 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 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 4th Street?

Kannappa Nagar 4th Street is classified as Residential Class II Type - I, indicating its designation for residential use.

Where can I find the Sub Registrar Office for Kannappa Nagar 4th Street?

The Sub Registrar Office for Kannappa Nagar 4th Street is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, fanepet Nandanam, Chennai -600 035.

How is the stamp duty calculated for properties in Kannappa Nagar 4th Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 82,50,000, the stamp duty would be Rs 5,77,500 at a rate of 7%.