Guideline Value for KANNAPPAN GARDEN

Kannappan Garden guideline value

The current guideline value of Kannappan Garden is Rs 1,100 per sq.ft, effective from 1 July 2024. This area is located in Uthandi village under the Neelankarai SRO, classified as Residential Class III Type - I.

How the guideline value of Kannappan Garden has changed

The guideline value for Kannappan Garden has undergone several revisions over the years. In 2012, the value was set at Rs 1,000 per sq.ft. This figure decreased to Rs 670 per sq.ft in 2017, marking a decline of 33%. However, from 2017 to 2023, the value saw a significant increase of 49%, rising to Rs 1,000 per sq.ft. The most recent revision in 2024 has further increased the guideline value to Rs 1,100 per sq.ft, reflecting a 10% rise from the previous year.

It is important to note that there are no recorded figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Uthandi

In Uthandi village, there are 197 streets under the Neelankarai SRO that have a guideline value for 2024, ranging from Rs 1,100 to Rs 14,700 per sq.ft. The median guideline value for these streets is Rs 1,700 per sq.ft, placing Kannappan Garden's 2024 figure below this median.

• Kannappa Naicker Garden: Rs 1,100 per sq.ft (2024)
• Kannanrukmani-Radha Garden: Rs 1,100 per sq.ft (2024)
• Kannaki Salai: Rs 2,200 per sq.ft (2024)
• Kannabiran Koil Street: Rs 2,200 per sq.ft (2024)
• Karumariamman Koil Street: Rs 1,700 per sq.ft (2024)
• Kasthuri Garden: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Kannappan Garden

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value amounts to Rs 11,00,000. The stamp duty at 7% would be Rs 77,000, and the registration fee at 2% would be Rs 22,000, bringing the total to Rs 99,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Kannappan Garden?

The Sub Registrar Office that covers Kannappan Garden is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more details.

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

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

When buying or selling property, it is essential to be aware of the guideline value, as it can affect the overall cost of the transaction. Buyers should ensure that the sale price is at least equal to the guideline value to avoid any legal complications during registration.

Frequently asked questions

What is the current guideline value of Kannappan Garden?

The current guideline value of Kannappan Garden is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2012 to Rs 670 per sq.ft in 2017, then back to Rs 1,000 per sq.ft in 2023, and finally to Rs 1,100 per sq.ft in 2024.

What is the registration office for Kannappan Garden?

The registration office for Kannappan Garden is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

How is stamp duty calculated for properties in Kannappan Garden?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft property at Rs 1,100 per sq.ft, the stamp duty would be Rs 77,000.

What are the other streets in Uthandi with similar guideline values?

Other streets in Uthandi with similar guideline values include Kannappa Naicker Garden, Kannanrukmani-Radha Garden, and Kasthuri Garden, all valued at Rs 1,100 per sq.ft for 2024.