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 property is located in Mylapore Part 2 village under the Chennai Central Joint I SRO, classified as Residential Special Type - IV.

How the guideline value of Kanagasri Nagar has changed

Over the years, the guideline value for Kanagasri Nagar has experienced several revisions. The register does not contain figures for the years 2002, 2003, 2007, 2012, and 2017. In the 2023 revision, the guideline value was set at Rs 13,000 per sq.ft. The most recent 2024 revision increased this value by 10%, bringing it to Rs 14,300 per sq.ft.

This change reflects a significant increase from the previous year. The transition from Rs 13,000 in 2023 to Rs 14,300 in 2024 indicates a notable adjustment in the guideline value for this street.

Guideline values in Mylapore Part 2

In Mylapore Part 2, there are 332 streets under the Chennai Central Joint I SRO that carry a 2024 guideline value ranging from Rs 4,400 to Rs 25,300 per sq.ft, with a median value of Rs 8,800 per sq.ft. Kanagasri Nagar's 2024 figure is 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 amounts to 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. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use our stamp duty and registration fee calculator for further assistance.

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 2

The guideline value plays a crucial role during property transactions in Mylapore Part 2. It serves as a benchmark for determining the minimum price at which a property can be registered, ensuring that the transaction is recorded at a fair value.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, which are essential components of the property registration process. This ensures that all transactions are conducted transparently and in accordance with the regulations set by the Registration Department.

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 much has the guideline value changed recently?

From the 2023 revision to the 2024 revision, the guideline value increased from Rs 13,000 per sq.ft to Rs 14,300 per sq.ft, reflecting a 10% rise.

What is the median guideline value in Mylapore Part 2?

The median guideline value in Mylapore Part 2 is Rs 8,800 per sq.ft, with Kanagasri Nagar's value being above this median.

What are the stamp duty rates applicable in Kanagasri Nagar?

The stamp duty rate applicable in Kanagasri Nagar is 7% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Kanagasri Nagar?

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.