Guideline Value for Kanagasri Nagar

Kanagasri Nagar guideline value

The current guideline value of Kanagasri Nagar is Rs 14,300 per sq.ft, effective from 1 July 2024. This street is located in Mylapore Part 1 village, under the Chennai Central Joint I SRO. The land classification for this area is Residential Special Type - IV.

How the guideline value of Kanagasri Nagar has changed

The guideline value for Kanagasri Nagar has seen several revisions over the years. The register has no figures for the years 2002, 2003, 2007, 2012, and 2017. In 2023, the guideline value was Rs 13,000 per sq.ft, which increased by 10% to Rs 14,300 per sq.ft in the 2024 revision.

This increase reflects the changes made in the guideline value register, with the most recent revision marking a significant update for the street. The previous figures indicate a steady progression in the valuation from the last known figure in 2023.

Guideline values in Mylapore Part 1

In Mylapore Part 1, there are 333 streets under the Chennai Central Joint I SRO, with guideline values ranging from Rs 4,400 to Rs 25,300 per sq.ft. The median value for these streets is Rs 8,800 per sq.ft, placing Kanagasri Nagar's 2024 figure above this median.

• Kamatchi Nagar: Rs 14,300 per sq.ft (2024)
• Kamarajar Street: Rs 8,700 per sq.ft (2024)
• Kamarajar Salai: Rs 8,700 per sq.ft (2024)
• Kasthuri Estate: Rs 17,500 per sq.ft (2024)
• Kasthuri Estate 1st Street: Rs 17,500 per sq.ft (2024)
• Kasthuri Estate 2nd Street: Rs 17,500 per sq.ft (2024)

Stamp duty and registration fee for property in Kanagasri Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 14,300 per sq.ft, the total guideline value is Rs 1,43,00,000. The stamp duty at 7% would be Rs 10,01,000, and the registration fee at 2% would be Rs 2,86,000, totaling Rs 12,87,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kanagasri Nagar?

The Sub Registrar Office that covers Kanagasri Nagar is the Chennai Central Joint I Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Mylapore Part 1

The guideline value is a crucial reference point during the registration of property transactions in Mylapore Part 1. It serves as the basis for calculating the stamp duty and registration fees that are applicable when buying or selling property in this area.

When a property is registered, the higher value between the guideline value and the sale price is considered for duty calculations. This ensures that the government receives the appropriate taxes based on the property's value in the current market.

Frequently asked questions

What is the current guideline value of Kanagasri Nagar?

The current guideline value of Kanagasri Nagar is Rs 14,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 13,000 per sq.ft in 2023 to Rs 14,300 per sq.ft in 2024, marking a 10% increase. There are no figures available for the years 2002, 2003, 2007, 2012, and 2017.

What is the land classification for Kanagasri Nagar?

The land classification for Kanagasri Nagar is Residential Special Type - IV, indicating its designated use within the area.

What are the stamp duty and registration fees for property in Kanagasri Nagar?

For a property valued at Rs 1,43,00,000, the stamp duty would be Rs 10,01,000 and the registration fee would be Rs 2,86,000, totaling Rs 12,87,000. These fees are calculated based on the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Kanagasri Nagar located?

The Sub Registrar Office for Kanagasri Nagar is the Chennai Central Joint I Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014.