Guideline Value for KANNAPPA NAGAR

Kannappa Nagar guideline value

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

How the guideline value of Kannappa Nagar has changed

The guideline value of Kannappa Nagar has seen significant changes over the years. In the 2002 revision, the value was Rs 810 per sq.ft, which increased to Rs 896 per sq.ft in 2003, marking an increase of 11%. The value then rose to Rs 1,300 per sq.ft in 2007, a substantial increase of 45%. Following this, the 2012 revision saw the value drop to Rs 7,500 per sq.ft, a decrease of 33%. However, it rebounded to Rs 5,025 per sq.ft in 2017, reflecting a 49% increase. The 2023 revision set the value at Rs 7,500 per sq.ft, and the most recent revision in 2024 has increased it to Rs 8,250 per sq.ft, representing a 10% rise.

Overall, from 2002 to 2024, the guideline value has increased by 919%. The register has no figure for revisions in the years not mentioned above.

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 Kannappa Nagar's 2024 value below this median.

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

For a 1,000 sq.ft plot at the current guideline value of Rs 8,250 per sq.ft, the total 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, bringing the total cost for these fees to 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 detailed calculations.

Which Sub Registrar Office covers Kannappa Nagar?

The Sub Registrar Office that covers Kannappa Nagar 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 stamp duty and registration fees applicable to the transaction. Buyers and sellers must consider this value to ensure compliance with local regulations during the registration process.

When a property is sold, the guideline value helps in assessing the official value of the property for tax purposes. It is essential for both parties to be aware of the guideline value to avoid any discrepancies during the registration of the property.

Frequently asked questions

What is the current guideline value of Kannappa Nagar?

The current guideline value of Kannappa Nagar is Rs 8,250 per sq.ft as per the 2024 revision, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since 2002, the guideline value has increased from Rs 810 per sq.ft to Rs 8,250 per sq.ft in 2024, marking an overall increase of 919%.

What is the registration office for Kannappa Nagar?

The registration office for Kannappa Nagar 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.

What are the stamp duty and registration fees for property in Kannappa Nagar?

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.

How does the guideline value affect property transactions?

The guideline value is used to determine the stamp duty and registration fees during property transactions. It acts as a benchmark for assessing the official value of the property for tax purposes.