Guideline Value for Kannagi Street

Kannagi Street guideline value

The current guideline value of Kannagi Street in Mannivakkam village is Rs 990 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 seen several revisions over the years. The 2012 revision set the value at Rs 900 per sq.ft, which was then reduced to Rs 603 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 900 per sq.ft, and the latest revision in 2024 has further raised it to Rs 990 per sq.ft, marking a 10% increase from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. The changes between the revisions include a significant 49% increase from 2017 to 2023, and a decrease of 33% from 2012 to 2017. The register has no figure for this street in the years 2002, 2003, and 2007.

Guideline values in Mannivakkam

In Mannivakkam, there are 118 streets under the Gooduvancheri SRO that carry a 2024 guideline value, ranging from Rs 330 to Rs 4,300 per sq.ft, with a median value of Rs 1,215 per sq.ft. The guideline value of Kannagi Street is below this median.

• Kannan Nagar: Rs 990 per sq.ft (2024)
• Kanimozhi Aravindan Nagar: Rs 1,320 per sq.ft (2024)
• Karapudi Amman Koil Street: Rs 2,640 per sq.ft (2024)
• Karumari Amman Kovil Theru: Rs 1,320 per sq.ft (2024)
• Karumariamman Nagar: Rs 990 per sq.ft (2024)
• Kalyani garden: Rs 990 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 990 per sq.ft, the total guideline value amounts to Rs 9,90,000. The stamp duty at 7% would be Rs 69,300, and the registration fee at 2% would be Rs 19,800, bringing the total fees to Rs 89,100. Please note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

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, Guduvanchery-603202, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Mannivakkam. It is used to determine the stamp duty and registration fees that must be paid during the transaction.

When a property is sold, the guideline value is considered to ensure that the transaction is recorded accurately. Buyers and sellers should be aware of the current guideline values to avoid any discrepancies during registration.

Frequently asked questions

What is the current guideline value of Kannagi Street?

The current guideline value of Kannagi Street is Rs 990 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed multiple times, with the most recent increase being from Rs 900 per sq.ft in 2023 to Rs 990 per sq.ft in 2024. Overall, from 2012 to 2024, the value has increased by 10%.

What is the land classification of Kannagi Street?

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

Where can I find the registration office for Kannagi Street?

The registration office that covers Kannagi Street is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanchery-603202, Chengalpattu registration zone.

How is stamp duty calculated for properties in Mannivakkam?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For instance, for a property with a guideline value of Rs 9,90,000, the stamp duty would be Rs 69,300 at a rate of 7%.