Guideline Value for KANNAYA GARDEN

Kannaya Garden guideline value

The current guideline value of Kannaya Garden is Rs 975 per sq.ft, effective from 1 July 2024. This area is located in Vadamelpakkam village, under the Gooduvancheri SRO, and is classified as Residential Special Type - III.

How the guideline value of Kannaya Garden has changed

The guideline value for Kannaya Garden has seen several revisions over the years. In 2012, the guideline value was Rs 350 per sq.ft. This figure decreased to Rs 234 per sq.ft in the 2017 revision. However, from 2017 to 2024, there was a significant increase of 317%, bringing the current guideline value to Rs 975 per sq.ft.

Overall, from 2012 to 2024, the guideline value has increased by 179%. It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2023 for this street.

Guideline values in Vadamelpakkam

In Vadamelpakkam, there are 19 streets under the Gooduvancheri SRO that carry a 2024 guideline value, ranging from Rs 350 to Rs 1,000 per sq.ft. The median guideline value for these streets is Rs 350 per sq.ft, making the current value of Kannaya Garden above that median.

• Krishna Nagar: Rs 350 per sq.ft (2024)
• Mavasorra Garden Extension: Rs 350 per sq.ft (2024)
• Mavsorva Garden: Rs 350 per sq.ft (2024)
• Ganthi Nagar: Rs 350 per sq.ft (2024)
• Galaxy Divine Castle: Rs 650 per sq.ft (2024)
• D.J.M. Nagar: Rs 350 per sq.ft (2024)

Stamp duty and registration fee for property in Kannaya Garden

For a 1,000 sq.ft plot at the current guideline value of Rs 975 per sq.ft, the total guideline value would be Rs 9,75,000. The stamp duty at 7% would amount to Rs 68,250, and the registration fee at 2% would be Rs 19,500, bringing the total to Rs 87,750. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kannaya Garden?

The Sub Registrar Office that covers Kannaya Garden is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Vadamelpakkam. It determines the minimum value at which a property can be registered, ensuring that the transaction is recorded at a fair price as per the government regulations.

When registering a property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory for the legal transfer of property ownership. Buyers must be aware of the guideline value to understand the financial implications of their property transactions.

Frequently asked questions

What is the current guideline value of Kannaya Garden?

The current guideline value of Kannaya Garden is Rs 975 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 350 per sq.ft in 2012 to Rs 234 per sq.ft in 2017, and then increased to Rs 975 per sq.ft in 2024. The overall change from 2012 to 2024 is an increase of 179%.

What is the land classification of Kannaya Garden?

Kannaya Garden is classified as Residential Special Type - III. This classification affects the guideline value and potential uses of the land.

Where can I find the Gooduvancheri Sub Registrar Office?

The Gooduvancheri Sub Registrar Office is located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone.

How is the stamp duty calculated for property in Kannaya Garden?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 9,75,000, the stamp duty would be Rs 68,250.