Guideline Value for Kannageyi Street /V.O.C.Nagar

Kannageyi Street /V.O.C.Nagar guideline value

The current guideline value of Kannageyi Street /V.O.C.Nagar is Rs 2,750 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 Commercial Class I Type - II.

How the guideline value of Kannageyi Street /V.O.C.Nagar has changed

The guideline value for Kannageyi Street /V.O.C.Nagar has undergone several revisions over the years. In 2002, the guideline value was Rs 184 per sq.ft. This increased to Rs 208 per sq.ft in 2003, marking a change of +13%. The value continued to rise, reaching Rs 360 per sq.ft in 2007, which was a significant increase of +73%. By 2017, the guideline value had surged to Rs 1,675 per sq.ft, reflecting a remarkable change of +365%. In 2023, the value was Rs 2,500 per sq.ft, increasing by +49% from the previous revision. The most recent revision in 2024 saw the guideline value rise to Rs 2,750 per sq.ft, an increase of +10% from 2023. The register has no figure for this street for the year 2012.

Guideline values in Pammal

Pammal village has a total of 926 streets under the Pammal SRO, with guideline values ranging from Rs 880 to Rs 3,300 per sq.ft as of 2024. The median guideline value for these streets is Rs 2,090 per sq.ft, placing Kannageyi Street /V.O.C.Nagar above this median.

• Kannageyi Street /Shivashankaran Nagar: Rs 1,980 per sq.ft (2024)
• Kannageyi Street /Ponni Nagar: Rs 1,980 per sq.ft (2024)
• Kannageyi Street /Muthamzhi Nagar: Rs 2,475 per sq.ft (2024)
• Kannageyi Street (Gandhi Nagar): Rs 2,475 per sq.ft (2024)
• Kannageyi Street /Anna 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 /V.O.C.Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value would be Rs 27,50,000. The stamp duty at 7% would amount to Rs 1,92,500, while the registration fee at 2% would be Rs 55,000, bringing the total to Rs 2,47,500. 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 Kannageyi Street /V.O.C.Nagar?

The Sub Registrar Office that covers Kannageyi Street /V.O.C.Nagar is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Pammal. When buying or selling property, the guideline value is used to determine the applicable stamp duty and registration fees. This ensures that the government receives the correct revenue from property transactions.

It is essential for buyers and sellers to be aware of the guideline value, as it affects the overall cost of the transaction. Both parties should ensure that the sale price is reflective of the current guideline value to avoid any discrepancies during registration.

Frequently asked questions

What is the current guideline value of Kannageyi Street /V.O.C.Nagar?

The current guideline value of Kannageyi Street /V.O.C.Nagar is Rs 2,750 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 184 per sq.ft in 2002 to Rs 2,750 per sq.ft in 2024, reflecting an overall change of +1395% over the years.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 27,50,000, the stamp duty would be Rs 1,92,500 and the registration fee would be Rs 55,000, totaling Rs 2,47,500.

Which Sub Registrar Office covers Kannageyi Street /V.O.C.Nagar?

The Pammal Sub Registrar Office covers Kannageyi Street /V.O.C.Nagar, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

What is the significance of the guideline value in property transactions?

The guideline value is used to calculate the stamp duty and registration fees during property transactions. It ensures that the correct revenue is collected by the government based on the property's value.