Guideline Value for Kanna Nagar

Kanna Nagar guideline value

The current guideline value of Kanna Nagar is Rs 1,000 per sq.ft, effective from 1 July 2024. This area is located in Vadaperumbakkam village, under the jurisdiction of the Redhills SRO. The land classification for this street is Residential Special Type - I.

How the guideline value of Kanna Nagar has changed

The guideline value of Kanna Nagar has seen several revisions over the years. In 2007, the value was Rs 200 per sq.ft, which increased to Rs 500 per sq.ft in 2012, marking a significant rise of 150%. By 2017, the value further increased to Rs 670 per sq.ft, reflecting a 34% change. The most recent revisions in 2023 and 2024 both set the value at Rs 1,000 per sq.ft, indicating no change between these years. The register has no figures for the years 2002 and 2003 for this street.

Overall, from 2007 to 2024, the guideline value has risen by 400%. The increase from 2017 to 2023 was 49%, showing a consistent upward trend in the value of this area over the years.

Guideline values in Vadaperumbakkam

In Vadaperumbakkam, there are 77 streets under the Redhills SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 1,300 per sq.ft, with a median value of Rs 1,003 per sq.ft. Kanna Nagar's 2024 figure is below this median.

• Kandhasamy Nagar: Rs 1,000 per sq.ft (2024)
• Kanniamman Nagar: Rs 1,000 per sq.ft (2024)
• Kanniamman Nagar Annex: Rs 1,003 per sq.ft (2024)
• Kanniamman Nagar Annex Part-1: Rs 1,003 per sq.ft (2024)
• Kanniamman Nagar Extn.: Rs 1,003 per sq.ft (2024)
• Jaya Nagar Extn - II: Rs 1,000 per sq.ft (2024)

Stamp duty and registration fee for property in Kanna Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,000 per sq.ft, the total guideline value would be Rs 10,00,000. The stamp duty at 7% would be Rs 70,000, and the registration fee at 2% would be Rs 20,000, making the total cost Rs 90,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kanna Nagar?

The Sub Registrar Office that covers Kanna Nagar is 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 Vadaperumbakkam

The guideline value is a crucial factor when buying or selling property in Vadaperumbakkam. It establishes a baseline for the property’s value, which is used to calculate the applicable stamp duty and registration fees during the registration process. This ensures that the transaction is recorded accurately in the government records.

When registering a property, the buyer must pay the stamp duty based on the guideline value or the sale price, whichever is higher. This process helps in maintaining transparency and accountability in real estate transactions within the region.

Frequently asked questions

What is the current guideline value of Kanna Nagar?

The current guideline value of Kanna Nagar is Rs 1,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 200 per sq.ft in 2007 to Rs 1,000 per sq.ft in 2024, marking a total increase of 400% over the years.

Which Sub Registrar Office covers Kanna Nagar?

Kanna Nagar is covered by the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

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

The stamp duty is calculated at 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total fees would be Rs 90,000.

What is the median guideline value in Vadaperumbakkam?

The median guideline value in Vadaperumbakkam is Rs 1,003 per sq.ft for the year 2024, with Kanna Nagar's value being below this median.