Guideline Value for Kani Nagar

Kani Nagar guideline value

The current guideline value of Kani Nagar, located in Manimangalam A village under the Padappai SRO, is Rs 880 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class I Type - I land classification.

How the guideline value of Kani Nagar has changed

The guideline value for Kani Nagar has seen several revisions over the years. The earliest recorded revision is from 2017, where the guideline value was Rs 536 per sq.ft. This increased to Rs 800 per sq.ft in 2023, marking a significant rise of 49%. The most recent revision in 2024 set the value at Rs 880 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that there are no recorded figures for Kani Nagar in the revisions from the years 2002, 2003, 2007, and 2012. Overall, from 2017 to 2024, the guideline value has increased by 64%.

Guideline values in Manimangalam A

In Manimangalam A, there are 112 streets under the Padappai SRO that carry a 2024 guideline value ranging from Rs 550 to Rs 2,500 per sq.ft. The median value for these streets is Rs 880 per sq.ft, which is the same as the current guideline value for Kani Nagar.

• Kani Nagar Extn: Rs 880 per sq.ft (2024)
• Kannaki Street: Rs 880 per sq.ft (2024)
• Kamarajar Street: Rs 880 per sq.ft (2024)
• Karuneegar Street: Rs 880 per sq.ft (2024)
• Katchery Mettu Street: Rs 880 per sq.ft (2024)
• Kalathu Mettu Street: Rs 880 per sq.ft (2024)

Stamp duty and registration fee for property in Kani Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 880 per sq.ft, the total guideline value amounts to Rs 8,80,000. The stamp duty at 7% would be Rs 61,600, and the registration fee at 2% would be Rs 17,600, bringing the total charges to Rs 79,200. It is important to note that the 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 Kani Nagar?

The Sub Registrar Office that covers Kani 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 information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Manimangalam A. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is sold, the guideline value is assessed to ensure that the transaction is registered at a value that reflects the current market conditions. This helps in maintaining transparency and standardization in property transactions.

Frequently asked questions

What is the current guideline value of Kani Nagar?

The current guideline value of Kani Nagar is Rs 880 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed from Rs 536 per sq.ft in 2017 to Rs 880 per sq.ft in 2024, which is an overall increase of 64%.

What is the median guideline value for streets in Manimangalam A?

The median guideline value for streets in Manimangalam A is Rs 880 per sq.ft, which is the same as the current value for Kani Nagar.

What are the registration fees for property in Kani Nagar?

The registration fees for a property in Kani Nagar include a stamp duty of 7% and a registration fee of 2% on the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Kani Nagar located?

The Sub Registrar Office for Kani Nagar is located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.