Guideline Value for Kanchi Arul Nagar

Kanchi Arul Nagar guideline value

The current guideline value of Kanchi Arul Nagar is Rs 1,102 per sq.ft, effective from 1 July 2024. This area is located in Puzhal village under the Redhills SRO, and it falls under the Residential Class III Type - I land classification.

How the guideline value of Kanchi Arul Nagar has changed

The guideline value for Kanchi Arul Nagar has seen several revisions over the years. In 2002, the value was Rs 402 per sq.ft. This figure increased to Rs 41 per sq.ft in 2003, followed by a significant rise to Rs 200 per sq.ft in 2007. The value then jumped to Rs 700 per sq.ft in 2012, before decreasing to Rs 469 per sq.ft in 2017. The most recent revisions brought the value to Rs 1,000 per sq.ft in 2023, and it has now reached Rs 1,102 per sq.ft in 2024.

Between the revisions, there have been notable changes. From 2002 to 2003, the value decreased by 90%. However, from 2003 to 2007, it increased by 388%. The value then rose by 250% from 2007 to 2012, but fell by 33% from 2012 to 2017. A substantial increase of 113% occurred from 2017 to 2023, leading to the current increase of 10% from 2023 to 2024. Overall, from 2002 to 2024, the guideline value has increased by 174%.

Guideline values in Puzhal

In Puzhal, there are 270 streets under the Redhills SRO that carry a guideline value for 2024, ranging from Rs 1,100 to Rs 6,000 per sq.ft. The median value is Rs 1,102 per sq.ft, which is equal to the guideline value of Kanchi Arul Nagar.

• Kanchi Arul Nagar Extn.: Rs 1,102 per sq.ft (2024)
• Kannappasamy Nagar: Rs 1,100 per sq.ft (2024)
• Kannappasamy Nagar 10th Street: Rs 1,100 per sq.ft (2024)
• Kannappasamy Nagar 11th Street: Rs 1,100 per sq.ft (2024)
• Kannappasamy Nagar 12th Street: Rs 1,100 per sq.ft (2024)
• Kannappasamy Nagar 13th Street: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Kanchi Arul Nagar

For a 1,000 sq.ft plot at the current guideline value, the total value would be Rs 11,02,000. The stamp duty at 7% would amount to Rs 77,140, while the registration fee at 2% would be Rs 22,040. Together, the total fees would be Rs 99,180. It is important to note that the 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 details.

Which Sub Registrar Office covers Kanchi Arul Nagar?

Kanchi Arul Nagar is covered by 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 information.

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

The guideline value is a crucial factor during property transactions in Puzhal. It serves as a benchmark for determining the minimum value at which properties can be registered. When a property is sold, the guideline value helps in calculating the applicable stamp duty and registration fees.

During the registration process, the guideline value ensures that the property is not undervalued. Buyers and sellers must consider this value to avoid any discrepancies in the transaction, ensuring compliance with local regulations.

Frequently asked questions

What is the current guideline value of Kanchi Arul Nagar?

The current guideline value of Kanchi Arul Nagar is Rs 1,102 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has undergone several revisions, starting from Rs 402 per sq.ft in 2002 to Rs 1,102 per sq.ft in 2024, reflecting various increases and decreases over the years.

What is the land classification of Kanchi Arul Nagar?

Kanchi Arul Nagar falls under the Residential Class III Type - I land classification.

Where can I find the Sub Registrar Office for Kanchi Arul Nagar?

The Sub Registrar Office covering Kanchi Arul Nagar is located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current guideline value, the total fees amount to Rs 99,180.