Guideline Value for KANNIAMMAN NAGAR

Kanniamman Nagar guideline value

The current guideline value for Kanniamman Nagar, located in Vanagaram village under the Chennai South Joint I SRO, is Rs 1,660 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class III Type - I land classification.

How the guideline value of Kanniamman Nagar has changed

The guideline value of Kanniamman Nagar has seen several revisions over the years. The earliest recorded figure is from 2002, where the guideline value was Rs 120 per sq.ft. This increased to Rs 138 per sq.ft in 2003, marking a 15% rise. From 2003 to 2007, the value surged significantly to Rs 500 per sq.ft, reflecting a 262% increase. The 2007 revision to Rs 1,500 per sq.ft in 2012 represented a 200% increase, but then the value decreased to Rs 1,005 per sq.ft in 2017, showing a decline of 33%.

In the subsequent revisions, the value rose to Rs 1,500 per sq.ft in 2023, which was a 49% increase from 2017. The most recent revision in 2024 set the guideline value at Rs 1,660 per sq.ft, indicating an 11% increase from the previous year. There are no figures available for the years not mentioned in the register for this street.

Guideline values in Vanagaram

In Vanagaram, there are 287 streets under the Chennai South Joint I SRO that carry a 2024 guideline value ranging from Rs 770 to Rs 5,500 per sq.ft. The median value for these streets is Rs 1,660 per sq.ft, which is the same as the current guideline value for Kanniamman Nagar.

• Kanniyamman Nagar 1st Cross Street: Rs 1,660 per sq.ft (2024)
• Kanniyamman Nagar 1st Street: Rs 1,660 per sq.ft (2024)
• Kanniyamman Nagar 2nd Street: Rs 1,660 per sq.ft (2024)
• Kanniyamman Nagar 3rd Street: Rs 1,660 per sq.ft (2024)
• Kanniyamman Nagar 4th Street: Rs 1,660 per sq.ft (2024)
• Kanniyamman Nagar 5th Street: Rs 1,660 per sq.ft (2024)

Stamp duty and registration fee for property in Kanniamman Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,660 per sq.ft, the total guideline value amounts to Rs 16,60,000. The stamp duty at 7% would be Rs 1,16,200, and the registration fee at 2% would be Rs 33,200, making the total cost for these fees Rs 1,49,400. It is important to note that duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kanniamman Nagar?

The Sub Registrar Office that covers Kanniamman Nagar is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Vanagaram. It is used to determine the stamp duty and registration fees applicable to the property being bought or sold. Buyers and sellers must be aware of the guideline value to ensure compliance with the registration requirements.

When a property is registered, the guideline value is considered to ascertain the financial obligations involved in the transaction. This ensures that the correct fees are paid based on the established rates set by the registration department.

Frequently asked questions

What is the current guideline value of Kanniamman Nagar?

The current guideline value of Kanniamman Nagar is Rs 1,660 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, starting from Rs 120 per sq.ft in 2002 to Rs 1,660 per sq.ft in 2024, showing an overall increase of 1283% over the years.

What is the land classification for Kanniamman Nagar?

Kanniamman Nagar falls under the Residential Class III Type - I land classification, indicating its designation for residential use.

Where can I find the Sub Registrar Office for Kanniamman Nagar?

The Sub Registrar Office for Kanniamman Nagar is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.

How are stamp duty and registration fees calculated in Kanniamman Nagar?

Stamp duty and registration fees are calculated based on the guideline value of the property or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value incurs fees totaling Rs 1,49,400.