Guideline Value for Kannageyi Street (Gandhi Nagar)

Kannageyi Street (Gandhi Nagar) guideline value

The current guideline value of Kannageyi Street (Gandhi Nagar) is Rs 2,475 per sq.ft, effective from 1 July 2024. This street is located in Pammal village and falls under the Pammal SRO. The land classification for this area is Residential Class I Type - II.

How the guideline value of Kannageyi Street (Gandhi Nagar) has changed

The guideline value for Kannageyi Street has seen significant changes over the years. The earliest recorded figure is from 2002, with a guideline value of Rs 188 per sq.ft. This increased to Rs 213 per sq.ft in 2003, marking a 13% rise. By 2007, the value surged to Rs 360 per sq.ft, reflecting a 69% increase. The 2017 revision saw a remarkable jump to Rs 1,507 per sq.ft, which is a 319% increase from 2007. The next revision in 2023 set the value at Rs 2,250 per sq.ft, a 49% increase from 2017. The most recent revision in 2024 has further increased the guideline value to Rs 2,475 per sq.ft, representing a 10% rise from the previous year.

It is worth noting that there is no guideline value recorded for Kannageyi Street during the 2012 revision. Overall, from 2002 to 2024, the guideline value has increased by an impressive 1216%.

Guideline values in Pammal

In Pammal, there are 926 streets under the Pammal SRO that have a 2024 guideline value ranging from Rs 880 to Rs 3,300 per sq.ft. The median value for these streets is Rs 2,090 per sq.ft, placing Kannageyi Street's current value above this median.

• Kannageyi Street /Anna Nagar: Rs 2,750 per sq.ft (2024)
• Kannageyi Street /Muthamzhi Nagar: Rs 2,475 per sq.ft (2024)
• Kannageyi Street /Ponni Nagar: Rs 1,980 per sq.ft (2024)
• Kannageyi Street /Shivashankaran Nagar: Rs 1,980 per sq.ft (2024)
• Kannageyi Street /V.O.C.Nagar: Rs 2,750 per sq.ft (2024)
• Kannadasan Street (Hindustan Lever Colony): Rs 2,530 per sq.ft (2024)

Stamp duty and registration fee for property in Kannageyi Street (Gandhi Nagar)

For a 1,000 sq.ft plot at the current guideline value of Rs 2,475 per sq.ft, the total guideline value amounts to Rs 24,75,000. The stamp duty, charged at 7%, would be Rs 1,73,250, while the registration fee at 2% would be Rs 49,500. Together, these fees total Rs 2,22,750. It is important to note that 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 Kannageyi Street (Gandhi Nagar)?

Kannageyi Street (Gandhi Nagar) falls under the jurisdiction of the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone. To find your SRO, visit find your SRO.

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

When buying or selling property in Pammal, the guideline value plays a crucial role during the registration process. It is used to determine the stamp duty and registration fees applicable to the transaction, ensuring that the fees are calculated based on the official value set by the Registration Department.

Buyers and sellers should be aware that the guideline value is subject to revisions, and it is essential to check the latest figures before proceeding with any transaction. This ensures compliance with the legal requirements and helps in accurate financial planning.

Frequently asked questions

What is the current guideline value of Kannageyi Street (Gandhi Nagar)?

The current guideline value of Kannageyi Street (Gandhi Nagar) is Rs 2,475 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased significantly from Rs 188 per sq.ft in 2002 to Rs 2,475 per sq.ft in 2024, marking an overall increase of 1216% over this period.

What are the stamp duty and registration fees for property in Kannageyi Street?

For a property valued at Rs 24,75,000, the stamp duty is Rs 1,73,250 and the registration fee is Rs 49,500, totaling Rs 2,22,750.

Which office handles registrations for Kannageyi Street?

The Pammal Sub Registrar Office handles registrations for Kannageyi Street (Gandhi Nagar), located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

What is the land classification for Kannageyi Street?

The land classification for Kannageyi Street (Gandhi Nagar) is Residential Class I Type - II, indicating its designation for residential use.