Guideline Value for KANNAPPAN NAGAR

Kannappan Nagar guideline value

The current guideline value of Kannappan Nagar is Rs 5,300 per sq.ft, effective from 1 July 2024. This area is located in Arumbakkam village, under the Kodambakkam SRO, and is classified as Residential Class II Type - I.

How the guideline value of Kannappan Nagar has changed

Over the years, the guideline value of Kannappan Nagar has seen significant changes. In 2007, the guideline value was Rs 1,250 per sq.ft, which increased dramatically to Rs 4,900 per sq.ft in 2012, marking a rise of 292%. However, it then decreased to Rs 3,283 per sq.ft in 2017, a decline of 33%. The value further increased to Rs 4,900 per sq.ft in 2023, and most recently to Rs 5,300 per sq.ft in 2024, reflecting an 8% increase.

From 2017 to 2023, the value rose by 49%. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 324%. It is important to note that the register has no figures for the years 2002 and 2003 for this street.

Guideline values in Arumbakkam

In Arumbakkam, there are 391 streets under the Kodambakkam SRO that carry a 2024 guideline value ranging from Rs 3,300 to Rs 16,500 per sq.ft, with a median value of Rs 6,000 per sq.ft. The guideline value of Kannappan Nagar is below this median.

• Kannayiram Street: Rs 3,300 per sq.ft (2024)
• Kannan Bala Nagar: Rs 5,500 per sq.ft (2024)
• Kannaki Street: Rs 4,400 per sq.ft (2024)
• Kavitha Street: Rs 4,400 per sq.ft (2024)
• Kalkinagar Main Road: Rs 5,000 per sq.ft (2024)
• Kalki Nagar I St Street: Rs 4,700 per sq.ft (2024)

Stamp duty and registration fee for property in Kannappan Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 5,300 per sq.ft, the total guideline value amounts to Rs 53,00,000. The stamp duty at 7% would be Rs 3,71,000, and the registration fee at 2% would be Rs 1,06,000, making the total Rs 4,77,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kannappan Nagar?

The Sub Registrar Office that covers Kannappan Nagar is the Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Arumbakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is documented accurately and fairly.

When a buyer and seller agree on a sale price, the higher of the sale price or the guideline value is used to calculate the stamp duty and registration fees. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Kannappan Nagar?

The current guideline value of Kannappan Nagar is Rs 5,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, from Rs 1,250 per sq.ft in 2007 to Rs 5,300 per sq.ft in 2024, showing an overall increase of 324%.

What are the guideline values of other streets in Arumbakkam?

Other streets in Arumbakkam have varying guideline values, with Kannayiram Street at Rs 3,300 per sq.ft and Kannan Bala Nagar at Rs 5,500 per sq.ft, among others.

What fees are associated with property transactions in Kannappan Nagar?

For property transactions, buyers should expect to pay stamp duty at 7% and a registration fee at 2% based on the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Kannappan Nagar located?

The Kodambakkam Sub Registrar Office is located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026.