Guideline Value for Kanaga Durga Nagar

Kanaga Durga Nagar guideline value

The current guideline value of Kanaga Durga Nagar is Rs 440 per sq.ft, effective from 1 July 2024. This street is located in Grandlyon village, under the Redhills SRO, and is classified as Residential Class III Type - I.

How the guideline value of Kanaga Durga Nagar has changed

The guideline value for Kanaga Durga Nagar has undergone several revisions over the years. In 2003, the guideline value was Rs 34 per sq.ft, which increased significantly to Rs 200 per sq.ft in 2007. The value then rose to Rs 400 per sq.ft in 2012, but saw a decrease to Rs 268 per sq.ft in 2017. However, from 2017 to 2023, the guideline value surged by 49% to reach Rs 400 per sq.ft, and it further increased by 10% to Rs 440 per sq.ft in the 2024 revision.

It is important to note that there is no figure available for the year 2002 in the register for this street. Overall, from 2003 to 2024, the guideline value has increased by an impressive 1194%.

Guideline values in Grandlyon

In Grandlyon village, there are 82 streets under the Redhills SRO that have a 2024 guideline value ranging from Rs 440 to Rs 1,500 per sq.ft. The median guideline value for these streets is Rs 660 per sq.ft, placing Kanaga Durga Nagar's 2024 figure below this median.

• Kandasamy Nagar: Rs 880 per sq.ft (2024)
• Kamarajar Street: Rs 660 per sq.ft (2024)
• Karalmarks Nagar: Rs 660 per sq.ft (2024)
• Karikal Cholan Salai: Rs 660 per sq.ft (2024)
• Karpagam Nagar: Rs 880 per sq.ft (2024)
• Karpagam Nagar Annex: Rs 880 per sq.ft (2024)

Stamp duty and registration fee for property in Kanaga Durga Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 440 per sq.ft, the total guideline value would be Rs 4,40,000. The stamp duty at 7% would amount to Rs 30,800, and the registration fee at 2% would be Rs 8,800, bringing the total to Rs 39,600. It is important to note that duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Kanaga Durga Nagar?

The Sub Registrar Office covering Kanaga Durga Nagar is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more details.

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

The guideline value is a crucial factor in property transactions as it determines the minimum value at which a property can be registered. When buying or selling property in Grandlyon, the guideline value is used to calculate the stamp duty and registration fees, ensuring compliance with local regulations.

Frequently asked questions

What is the current guideline value of Kanaga Durga Nagar?

The current guideline value of Kanaga Durga Nagar is Rs 440 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 34 per sq.ft in 2003 to Rs 440 per sq.ft in 2024, reflecting an overall increase of 1194% over this period.

What is the land classification of Kanaga Durga Nagar?

Kanaga Durga Nagar is classified as Residential Class III Type - I, which indicates its suitability for residential development.

Where can I find the registration office for Kanaga Durga Nagar?

The registration office for Kanaga Durga Nagar is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

How is the stamp duty calculated for properties in Kanaga Durga Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, on a property valued at Rs 4,40,000, the stamp duty would be Rs 30,800 at 7%.