Guideline Value for Kannagi Street / Otteri Extn

Kannagi Street / Otteri Extn guideline value

The current guideline value of Kannagi Street / Otteri Extn is Rs 1,500 per sq.ft as per the 2023 revision. This street is classified under Residential Special Type - I and falls under the Gooduvancheri Sub Registrar Office (SRO) in the Chengalpattu zone of Tamil Nadu.

How the guideline value of Kannagi Street / Otteri Extn has changed

Over the years, the guideline value for Kannagi Street / Otteri Extn has experienced several revisions. The 2007 revision set the value at Rs 550 per sq.ft, which saw a significant increase to Rs 1,500 per sq.ft in the 2012 revision. However, the 2017 revision marked a decrease to Rs 1,005 per sq.ft, before rising again to the current value of Rs 1,500 per sq.ft in 2023. There are no figures available for the years 2002, 2003, and 2024 in the register.

From the 2007 revision to the 2012 revision, there was an increase of 173%. The value then decreased by 33% from 2012 to 2017. The most recent change from 2017 to 2023 reflects a 49% increase, resulting in an overall increase of 173% from 2007 to 2023.

Guideline values in Vandalur

Currently, there are no specific guideline values listed for other streets in Vandalur under the Gooduvancheri SRO. This means that Kannagi Street / Otteri Extn stands alone in its current valuation.

Stamp duty and registration fee for property in Kannagi Street / Otteri Extn

For a 1,000 sq.ft plot at the current guideline value of Rs 1,500 per sq.ft, the total guideline value would be Rs 15,00,000. The stamp duty at 7% would amount to Rs 1,05,000, and the registration fee at 2% would be Rs 30,000, bringing the total cost for these fees to Rs 1,35,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Kannagi Street / Otteri Extn?

The Kannagi Street / Otteri Extn area is covered by the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanchery-603202, Chengalpattu registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor in property transactions in Vandalur, as it determines the minimum value at which a property can be registered. When buying or selling property, the guideline value is used to calculate stamp duty and registration fees, ensuring that these costs are based on a standardized valuation.

It is essential for buyers and sellers to be aware of the current guideline values, as these figures can fluctuate with revisions. Understanding the guideline value helps in making informed decisions during the property registration process.

Frequently asked questions

What is the current guideline value of Kannagi Street / Otteri Extn?

The current guideline value of Kannagi Street / Otteri Extn is Rs 1,500 per sq.ft as per the 2023 revision.

How has the guideline value changed over the years?

The guideline value has changed from Rs 550 per sq.ft in 2007 to Rs 1,500 per sq.ft in 2012, then decreased to Rs 1,005 per sq.ft in 2017, and returned to Rs 1,500 per sq.ft in 2023.

What is the land classification for Kannagi Street / Otteri Extn?

Kannagi Street / Otteri Extn is classified as Residential Special Type - I.

Where is the Gooduvancheri Sub Registrar Office located?

The Gooduvancheri Sub Registrar Office is located on Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanchery-603202, Chengalpattu registration zone.

How are stamp duty and registration fees calculated for properties in this area?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher, while the registration fee is charged at 2% of the guideline value. For example, a 1,000 sq.ft plot at the current rate would incur total fees of Rs 1,35,000.