Guideline Value for KANNIGAPURAM MAIN ROAD

Kannigapuram Main Road guideline value

The current guideline value of Kannigapuram Main Road is Rs 2,200 per sq.ft, effective from 1 July 2024. This road is located in Perambur village and falls under the Purasaivakkam SRO. The land classification for this area is Residential Class IV Type - I.

How the guideline value of Kannigapuram Main Road has changed

The guideline value for Kannigapuram Main Road has seen several revisions over the years. In 2007, the guideline value was Rs 500 per sq.ft, which increased significantly to Rs 2,000 per sq.ft in 2012, marking a 300% rise. However, from 2012 to 2017, the value decreased to Rs 1,340 per sq.ft, reflecting a decline of 33%. The value then rose to Rs 2,000 per sq.ft in 2023, which was a 49% increase from the previous revision.

The most recent revision in 2024 has set the guideline value at Rs 2,200 per sq.ft, which is a 10% increase from the 2023 figure. Overall, from 2007 to 2024, the guideline value has increased by 340%. It is important to note that the register has no figures for the years 2002 and 2003 for this street.

Guideline values in Perambur

In Perambur, there are 1,114 streets under the Purasaivakkam SRO that carry a 2024 guideline value ranging from Rs 1,600 to Rs 7,100 per sq.ft, with a median of Rs 2,700 per sq.ft. The guideline value for Kannigapuram Main Road is below this median.

• KANNIGAPURAM(vasukinagar): Rs 2,200 per sq.ft (2024)
• Kannigapuram 2nd Street: Rs 2,200 per sq.ft (2024)
• Kannigapuram 1st Street: Rs 2,200 per sq.ft (2024)
• Karimedu: Rs 2,200 per sq.ft (2024)
• Karimedu 1st Street: Rs 2,200 per sq.ft (2024)
• Karimedu 2nd Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Kannigapuram Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total fees to Rs 1,98,000. It is important to note that the 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 further calculations.

Which Sub Registrar Office covers Kannigapuram Main Road?

The Kannigapuram Main Road is covered by the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process of property transactions in Perambur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps both buyers and sellers understand the official valuation of the property in question. It is essential for buyers to be aware of the guideline value to ensure they are paying a fair price based on the official rates set by the government.

Frequently asked questions

What is the current guideline value of Kannigapuram Main Road?

The current guideline value of Kannigapuram Main Road is Rs 2,200 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed significantly from Rs 500 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 340% over the years.

What is the stamp duty for properties in Kannigapuram Main Road?

The stamp duty for properties in Kannigapuram Main Road is 7% of the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Kannigapuram Main Road located?

The Purasaivakkam Sub Registrar Office is located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.

How does the guideline value affect property transactions?

The guideline value is used as a benchmark for property registration, determining the minimum value for stamp duty and registration fees. It helps ensure that the government receives appropriate revenue from property transactions.