Guideline Value for KANNIAMAN NAGAR - Varasidhi Vinayagar Street

KANNIAMAN NAGAR - Varasidhi Vinayagar Street guideline value

The current guideline value for KANNIAMAN NAGAR - Varasidhi Vinayagar 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 is classified as Residential Class IV Type - I.

How the guideline value of KANNIAMAN NAGAR - Varasidhi Vinayagar Street has changed

The guideline value for this street has undergone several revisions over the years. Starting from Rs 150 per sq.ft in 2002, it increased to Rs 166 per sq.ft in 2003, marking an 11% increase. The value saw a significant rise to Rs 350 per sq.ft in 2007, which was a 111% increase. In 2012, the value dropped to Rs 2,000 per sq.ft, a decrease of 33%. The next revision in 2017 saw it increase to Rs 1,340 per sq.ft, reflecting a 49% increase. The most recent revision in 2023 set the value at Rs 2,000 per sq.ft, which was then raised to Rs 2,200 per sq.ft in 2024, a 10% increase.

Overall, from 2002 to 2024, the guideline value has increased by a substantial 1,367%. There are no figures available for the revisions in years other than those mentioned above for KANNIAMAN NAGAR - Varasidhi Vinayagar Street.

Guideline values in Nerkundram

Nerkundram village has a total of 476 streets under the Virugambakkam SRO, with guideline values ranging from Rs 1,650 to Rs 6,600 per sq.ft. The median guideline value is Rs 2,200 per sq.ft, which is the same as the current value for KANNIAMAN NAGAR - Varasidhi Vinayagar Street.

• KANNIAMAN NAGAR - Vallalar Street: Rs 2,200 per sq.ft (2024)
• KANNIAMAN NAGAR - Veeramamunivar Street: Rs 2,200 per sq.ft (2024)
• KANNIAMAN NAGAR - Siva Sakthi Street: Rs 2,200 per sq.ft (2024)
• KANNIAMAN NAGAR - Kannadasan 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 - Varasidhi Vinayagar 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 cost for these fees to Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use our stamp duty and registration fee calculator for accurate calculations.

Which Sub Registrar Office covers KANNIAMAN NAGAR - Varasidhi Vinayagar Street?

The KANNIAMAN NAGAR - Varasidhi Vinayagar Street falls under the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. For more information, you can find your SRO.

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 a benchmark for calculating stamp duty and registration fees, ensuring that all transactions are assessed fairly and uniformly.

When buying or selling property, the guideline value helps determine the minimum price at which a property can be registered. This value is essential for both buyers and sellers to understand the financial implications of their transactions.

Frequently asked questions

What is the current guideline value for KANNIAMAN NAGAR - Varasidhi Vinayagar Street?

The current guideline value for KANNIAMAN NAGAR - Varasidhi Vinayagar 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 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 the years.

What are the stamp duty and registration fees for this property?

For a 1,000 sq.ft plot, the stamp duty would be Rs 1,54,000 and the registration fee would be Rs 44,000, totaling Rs 1,98,000 based on the current guideline value.

Which office handles the registration for this street?

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

What is the land classification for KANNIAMAN NAGAR - Varasidhi Vinayagar Street?

KANNIAMAN NAGAR - Varasidhi Vinayagar Street is classified as Residential Class IV Type - I.