Guideline Value for KANNIAMAN NAGAR - Vallalar Street

KANNIAMAN NAGAR - Vallalar Street guideline value

The current guideline value of KANNIAMAN NAGAR - Vallalar Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Nerkundram village under the Virugambakkam SRO, and it falls under the Residential Class IV Type - I land classification.

How the guideline value of KANNIAMAN NAGAR - Vallalar Street has changed

The guideline value for KANNIAMAN NAGAR - Vallalar Street has seen significant changes over the years. In the 2002 revision, the value was Rs 150 per sq.ft, which increased to Rs 166 per sq.ft in 2003, marking an 11% rise. The value then continued to rise to Rs 350 per sq.ft in 2007, reflecting a substantial increase of 111%. By 2012, the guideline value reached Rs 2,000 per sq.ft, which was a remarkable increase of 471% from the previous revision.

Following this, the value decreased to Rs 1,340 per sq.ft in 2017, showing a decline of 33%. The next revision in 2023 saw the value rise again to Rs 2,000 per sq.ft, and in the most recent 2024 revision, it has increased to Rs 2,200 per sq.ft, representing a 10% increase. Overall, from 2002 to 2024, the guideline value has increased by 1,367%.

Guideline values in Nerkundram

In Nerkundram, there are 476 streets under the Virugambakkam SRO that carry a 2024 guideline value ranging from Rs 1,650 to Rs 6,600 per sq.ft. The median guideline value for these streets is Rs 2,200 per sq.ft, which is equal to the current value of KANNIAMAN NAGAR - Vallalar Street.

• KANNIAMAN NAGAR - Siva Sakthi Street: Rs 2,200 per sq.ft (2024)
• KANNIAMAN NAGAR - Varasidhi Vinayagar Street: Rs 2,200 per sq.ft (2024)
• KANNIAMAN NAGAR - Kannadasan Street: Rs 2,200 per sq.ft (2024)
• KANNIAMAN NAGAR - Veeramamunivar Street: Rs 2,200 per sq.ft (2024)
• KANNIAMAN NAGAR - Kambar Street: Rs 2,200 per sq.ft (2024)
• Karuneegar Street: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in KANNIAMAN NAGAR - Vallalar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total to Rs 1,98,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers KANNIAMAN NAGAR - Vallalar Street?

The KANNIAMAN NAGAR - Vallalar Street is covered by the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more details.

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

The guideline value is a crucial factor during the registration of property transactions in Nerkundram. It serves as the basis for calculating stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property transfers.

When buying or selling property, the guideline value will be compared to the sale price, and the higher of the two will be used to determine the applicable duties. This process helps maintain transparency and standardization in property transactions.

Frequently asked questions

What is the current guideline value of KANNIAMAN NAGAR - Vallalar Street?

The current guideline value of KANNIAMAN NAGAR - Vallalar Street is Rs 2,200 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 150 per sq.ft in 2002 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 1,367% over that period.

What is the stamp duty for property in KANNIAMAN NAGAR - Vallalar Street?

The stamp duty for property in KANNIAMAN NAGAR - Vallalar Street is 7% of the guideline value or sale price, whichever is higher.

Which office handles registrations for KANNIAMAN NAGAR - Vallalar Street?

The Virugambakkam Sub Registrar Office handles registrations for KANNIAMAN NAGAR - Vallalar Street, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

What is the land classification for KANNIAMAN NAGAR - Vallalar Street?

KANNIAMAN NAGAR - Vallalar Street is classified as Residential Class IV Type - I, which indicates its designation for residential use.