Guideline Value for Kanagavalli Nagar

Kanagavalli Nagar guideline value

The current guideline value of Kanagavalli Nagar is Rs 990 per sq.ft, effective from 1 July 2024. This area is located in Varadarajapuram village under the Padappai SRO, classified as Residential Class III Type - I.

How the guideline value of Kanagavalli Nagar has changed

The guideline value of Kanagavalli Nagar has seen several revisions over the years. In 2007, the value was Rs 120 per sq.ft, which increased significantly to Rs 900 per sq.ft in 2012. However, it then dropped to Rs 603 per sq.ft in 2017, before rising to Rs 900 per sq.ft again in 2023. The current value of Rs 990 per sq.ft represents a 10% increase from the 2023 revision.

From 2017 to 2023, the value increased by 49%. The overall change from 2007 to 2024 shows a substantial increase of 725%. The revisions for the years 2002 and 2003 do not have figures available for this street.

Guideline values in Varadarajapuram

In Varadarajapuram, there are 250 streets under the Padappai SRO with a 2024 guideline value ranging from Rs 880 to Rs 4,100 per sq.ft. The median guideline value for these streets is Rs 1,650 per sq.ft, indicating that Kanagavalli Nagar's current figure is below this median.

• Kannadasan Nagar: Rs 990 per sq.ft (2024)
• Kamatchi Amman Nagar: Rs 1,650 per sq.ft (2024)
• Karthiga Nagar: Rs 1,650 per sq.ft (2024)
• Kalpataru Guru Ganesh Avenue Phase-I: Rs 2,480 per sq.ft (2024)
• Kalaam Nagar: Rs 990 per sq.ft (2024)
• Kabhi Nagar: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Kanagavalli Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 990 per sq.ft, the total guideline value would be Rs 9,90,000. The stamp duty at 7% would amount to Rs 69,300, and the registration fee at 2% would be Rs 19,800, leading to a total cost of Rs 89,100. 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 Kanagavalli Nagar?

The Sub Registrar Office that covers Kanagavalli Nagar is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor when buying or selling property in Varadarajapuram. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these charges are based on the official valuation of the property rather than the negotiated sale price.

Frequently asked questions

What is the current guideline value of Kanagavalli Nagar?

The current guideline value of Kanagavalli Nagar is Rs 990 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 120 per sq.ft in 2007 to Rs 990 per sq.ft in 2024, showing a significant increase over the years.

What is the land classification of Kanagavalli Nagar?

Kanagavalli Nagar is classified as Residential Class III Type - I, indicating its suitability for residential development.

What are the stamp duty and registration fees for properties in Kanagavalli Nagar?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For example, for a 1,000 sq.ft plot, the total cost would amount to Rs 89,100.

Which office handles property registrations in Kanagavalli Nagar?

The Padappai Sub Registrar Office handles property registrations in Kanagavalli Nagar, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.