Guideline Value for Kannagi Street

Kannagi Street guideline value

The current guideline value of Kannagi Street in Gooduvancheri village is Rs 2,001 per sq.ft, effective from 1 July 2024. This street falls under the Gooduvancheri SRO and is classified as Residential Special Type - II.

How the guideline value of Kannagi Street has changed

The guideline value for Kannagi Street has undergone several revisions over the years. The 2017 revision set the value at Rs 1,340 per sq.ft. This figure increased to Rs 2,000 per sq.ft in the 2023 revision, marking a significant rise of 49% over the six years. The current 2024 revision maintains the value at Rs 2,001 per sq.ft, showing no change from the previous year.

There are no figures available for the years 2002, 2003, 2007, and 2012 for this street, indicating that the guideline value was not established during those revisions. Overall, from the 2017 revision to the 2024 revision, there has been an increase of 49% in the guideline value.

Guideline values in Gooduvancheri

In Gooduvancheri, there are 129 streets under the Gooduvancheri SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 3,500 per sq.ft, with a median value of Rs 1,500 per sq.ft. Kannagi Street's 2024 guideline value is above this median.

• Kanniyappa Nagar: Rs 2,001 per sq.ft (2024)
• Kambar Street: Rs 2,001 per sq.ft (2024)
• Kamatchi Nagar: Rs 1,500 per sq.ft (2024)
• Kamarajar Street: Rs 1,500 per sq.ft (2024)
• K.J. Nagar: Rs 1,200 per sq.ft (2024)
• KJ Nagar Extn: Rs 1,000 per sq.ft (2024)

Stamp duty and registration fee for property in Kannagi Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,001 per sq.ft, the total guideline value would be Rs 20,01,000. The stamp duty at 7% would amount to Rs 1,40,070, while the registration fee at 2% would be Rs 40,020, bringing the total cost to Rs 1,80,090. It is important to note that the 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 Kannagi Street?

The Sub Registrar Office that covers Kannagi Street is 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 details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Gooduvancheri. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the transaction.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the government collects the appropriate revenue based on the property's value.

Frequently asked questions

What is the current guideline value of Kannagi Street?

The current guideline value of Kannagi Street is Rs 2,001 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 1,340 per sq.ft in 2017 to Rs 2,000 per sq.ft in 2023, and it remains at Rs 2,001 per sq.ft in 2024, showing a 49% increase overall from 2017 to 2024.

Are there any years without a guideline value for Kannagi Street?

Yes, there are no figures available for the years 2002, 2003, 2007, and 2012 for Kannagi Street, indicating that the guideline value was not established during those revisions.

What is the land classification for Kannagi Street?

Kannagi Street is classified as Residential Special Type - II, which reflects its intended use for residential development.

Where can I find the Gooduvancheri Sub Registrar Office?

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