Guideline Value for KANNIYAMMAN NAGAR 5TH STREET

Kanniyamman Nagar 5th Street guideline value

The current guideline value of Kanniyamman Nagar 5th Street is Rs 1,660 per sq.ft, effective from 1 July 2024. This street is located in Vanagaram village and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Class III Type - I.

How the guideline value of Kanniyamman Nagar 5th Street has changed

The guideline value for Kanniyamman Nagar 5th Street has seen several revisions over the years. The most recent revision in 2024 set the value at Rs 1,660 per sq.ft, an increase from Rs 1,500 per sq.ft in 2023, marking an 11% rise. Prior to that, in 2017, the guideline value was Rs 1,005 per sq.ft, which means there was a significant increase of 49% between 2017 and 2023. The 2012 revision also recorded a value of Rs 1,500 per sq.ft, but this represented a decrease of 33% from the 2017 figure.

Overall, from 2012 to 2024, the guideline value has increased by 11%. It is worth noting that for the years 2002, 2003, and 2007, the register has no figure 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 guideline value is Rs 1,660 per sq.ft, which is the same as the current value for Kanniyamman Nagar 5th Street.

• Kanniyamman Nagar 4th Street: Rs 1,660 per sq.ft (2024)
• Kanniyamman Nagar 6th Street: Rs 1,660 per sq.ft (2024)
• Kanniyamman Nagar 3rd Street: Rs 1,660 per sq.ft (2024)
• Kanniyamman Nagar 7th Street: Rs 1,660 per sq.ft (2024)
• Kanniyamman Nagar 2nd Street: Rs 1,660 per sq.ft (2024)
• Kanniyamman Nagar 1st Street: Rs 1,660 per sq.ft (2024)

Stamp duty and registration fee for property in Kanniyamman Nagar 5th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,660 per sq.ft, the total guideline value would be Rs 16,60,000. The stamp duty at 7% would amount to Rs 1,16,200, and the registration fee at 2% would be Rs 33,200, bringing the total to 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 information.

Which Sub Registrar Office covers Kanniyamman Nagar 5th Street?

The Sub Registrar Office that covers Kanniyamman Nagar 5th Street 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 details.

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

The guideline value is a critical factor when registering property transactions in Vanagaram. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees, which are mandatory charges during the transfer of property ownership. Buyers should be aware of the guideline value to ensure compliance with legal requirements and to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Kanniyamman Nagar 5th Street?

The current guideline value of Kanniyamman Nagar 5th Street 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 from Rs 1,500 per sq.ft in 2023 to Rs 1,660 per sq.ft in 2024, an increase of 11%. It was Rs 1,005 per sq.ft in 2017, which rose to Rs 1,500 per sq.ft in 2012.

What is the land classification for Kanniyamman Nagar 5th Street?

Kanniyamman Nagar 5th Street is classified as Residential Class III Type - I, indicating its suitability for residential development.

Where can I find the Sub Registrar Office for this area?

The Sub Registrar Office for Kanniyamman Nagar 5th Street is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.

How is the stamp duty calculated for properties in this area?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For instance, a property valued at Rs 16,60,000 would incur a stamp duty of Rs 1,16,200 at a rate of 7%.