Guideline Value for KANNIGAPURAM(vasukinagar)

KANNIGAPURAM(vasukinagar) guideline value

The current guideline value of KANNIGAPURAM(vasukinagar) is Rs 2,200 per sq.ft, effective from 1 July 2024. This area is located in Perambur village under the Purasaivakkam SRO, classified as Residential Class IV Type - I.

How the guideline value of KANNIGAPURAM(vasukinagar) has changed

The guideline value for KANNIGAPURAM(vasukinagar) has undergone 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. However, from 2012 to 2017, there was a decrease to Rs 1,340 per sq.ft. The most recent revision in 2024 has set the guideline value at Rs 2,200 per sq.ft, marking a 64% increase from the 2017 figure.

Overall, from 2007 to 2024, the guideline value has increased by 340%. The revisions for the years 2023, 2003, and 2002 have no figures listed 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 value of Rs 2,700 per sq.ft. The guideline value of KANNIGAPURAM(vasukinagar) is below this median.

• Kannigapuram Main Road: 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(vasukinagar)

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 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.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers KANNIGAPURAM(vasukinagar)?

KANNIGAPURAM(vasukinagar) falls under the jurisdiction of the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can find your SRO for more details.

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

The guideline value is a crucial factor during property registration 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 parties understand the fair valuation of the property. It is essential to consider this value when negotiating the sale price, as the higher of the guideline value or the sale price will determine the applicable duties and fees.

Frequently asked questions

What is the current guideline value of KANNIGAPURAM(vasukinagar)?

The current guideline value of KANNIGAPURAM(vasukinagar) 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 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 are the stamp duty and registration fees for property in KANNIGAPURAM(vasukinagar)?

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 and the registration fee would be Rs 44,000, totaling Rs 1,98,000.

Which office handles registrations for KANNIGAPURAM(vasukinagar)?

The Purasaivakkam Sub Registrar Office handles registrations for KANNIGAPURAM(vasukinagar), located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.

What is the significance of the guideline value when buying property?

The guideline value is essential for property registration, as it determines the minimum value for registration and the applicable stamp duty and registration fees based on the higher of the guideline value or sale price.