Guideline Value for Kannadasan Nagar

Kannadasan Nagar guideline value

The current guideline value of Kannadasan Nagar is Rs 500 per sq.ft. This area is located in Korukanthangal village, under the Gooduvancheri SRO, and is classified as Residential Special Type - I.

How the guideline value of Kannadasan Nagar has changed

Over the years, the guideline value for Kannadasan Nagar has seen several revisions. The 2007 revision set the value at Rs 155 per sq.ft, which increased significantly to Rs 500 per sq.ft in the 2012 revision. However, the 2017 revision saw a decrease to Rs 335 per sq.ft, before rising again to Rs 500 per sq.ft in both the 2023 and 2024 revisions, reflecting no change between these two years.

The changes between these revisions are notable. From 2007 to 2012, there was a substantial increase of 223%. The value then decreased by 33% from 2012 to 2017. Following this, the value increased by 49% from 2017 to 2023, and remained stable at Rs 500 per sq.ft in the 2024 revision. The overall change from 2007 to 2024 is an increase of 223%.

Guideline values in Korukanthangal

In Korukanthangal, there are 25 streets under the Gooduvancheri SRO that carry a 2024 guideline value ranging from Rs 500 to Rs 500 per sq.ft, with a median value of Rs 500 per sq.ft. The guideline value for Kannadasan Nagar aligns with this median.

• Kalaimagal Avenue: Rs 500 per sq.ft (2024)
• Krishna Nagar: Rs 500 per sq.ft (2024)
• Krishna Nagar Extn-III: Rs 500 per sq.ft (2024)
• L.V.R. Nagar: Rs 500 per sq.ft (2024)
• Mahalakshmi Avenue: Rs 500 per sq.ft (2024)
• Mahalakshmi Nagar: Rs 500 per sq.ft (2024)

Stamp duty and registration fee for property in Kannadasan Nagar

For a 1,000 sq.ft plot at the current rate, the guideline value is Rs 5,00,000. The stamp duty at 7% would amount to Rs 35,000, and the registration fee at 2% would be Rs 10,000, totaling Rs 45,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kannadasan Nagar?

Kannadasan Nagar is covered by the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Korukanthangal. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property being bought or sold.

When a property is registered, the guideline value is compared with the sale price, and the higher of the two is used to calculate the stamp duty. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Kannadasan Nagar?

The current guideline value of Kannadasan Nagar is Rs 500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen various changes, from Rs 155 per sq.ft in 2007 to Rs 500 per sq.ft in 2012, followed by a drop to Rs 335 per sq.ft in 2017, and returning to Rs 500 per sq.ft in 2023 and 2024.

What is the land classification of Kannadasan Nagar?

Kannadasan Nagar is classified as Residential Special Type - I, indicating its suitability for residential development.

Where can I find the registration office for Kannadasan Nagar?

The registration office for Kannadasan Nagar is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone.

How is the stamp duty calculated for properties in Kannadasan Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, on a 1,000 sq.ft plot valued at Rs 5,00,000, the stamp duty would be Rs 35,000 at 7%.