Guideline Value for Kannagi street (Thiru Nagar)

Kannagi street (Thiru Nagar) guideline value

The current guideline value of Kannagi street (Thiru Nagar) is Rs 4,900 per sq.ft, effective from 1 July 2024. This street is located in Kodambakkam village, under the Ashok Nagar SRO, and is classified as Residential Class III Type - II.

How the guideline value of Kannagi street (Thiru Nagar) has changed

Over the years, the guideline value of Kannagi street (Thiru Nagar) has seen significant changes. The 2007 revision set the value at Rs 1,210 per sq.ft, which was then increased to Rs 4,500 per sq.ft in the 2012 revision. This marked a substantial rise of 272%. The value remained unchanged at Rs 4,500 per sq.ft in the 2023 revision, before increasing to Rs 4,900 per sq.ft in the 2024 revision, reflecting a 9% increase.

It is important to note that there are no figures available for the revisions in 2002, 2003, and 2017 for this street. Overall, from the 2007 revision to the current 2024 revision, the guideline value has increased by 305%.

Guideline values in Kodambakkam

Kodambakkam village has a range of guideline values, with 1,031 streets under the Ashok Nagar SRO carrying values from Rs 2,200 to Rs 11,000 per sq.ft. The median value is Rs 4,900 per sq.ft, which aligns with the current guideline value of Kannagi street (Thiru Nagar).

• Kannagi Street (M.G.R.Nagar): Rs 3,300 per sq.ft (2024)
• Kannagi Street (JPT): Rs 4,900 per sq.ft (2024)
• Kannadhasan Street: Rs 3,300 per sq.ft (2024)
• Kannammal Street: Rs 4,100 per sq.ft (2024)
• Kannadhasan (Cross Street): Rs 3,300 per sq.ft (2024)
• Kannappar Salai: Rs 7,600 per sq.ft (2024)

Stamp duty and registration fee for property in Kannagi street (Thiru Nagar)

For a 1,000 sq.ft plot at the current guideline value of Rs 4,900 per sq.ft, the total guideline value amounts to Rs 49,00,000. The stamp duty at 7% would be Rs 3,43,000, and the registration fee at 2% would be Rs 98,000, bringing the total to Rs 4,41,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kannagi street (Thiru Nagar)?

The Sub Registrar Office that covers Kannagi street (Thiru Nagar) is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By Nolambur Eb Office). You can find your SRO for more information.

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

When buying or selling property in Kodambakkam, the guideline value plays a crucial role in determining the registration fees and stamp duty. The guideline value is set by the government and is used as a benchmark for property transactions in the area.

During registration, the stamp duty is calculated based on the higher amount between the guideline value and the sale price of the property. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Kannagi street (Thiru Nagar)?

The current guideline value of Kannagi street (Thiru Nagar) is Rs 4,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 1,210 per sq.ft in 2007 to Rs 4,900 per sq.ft in 2024, reflecting a total increase of 305% over the years.

What is the land classification of Kannagi street (Thiru Nagar)?

Kannagi street (Thiru Nagar) is classified as Residential Class III Type - II, indicating its suitability for residential use.

Where can I find the Sub Registrar Office for Kannagi street (Thiru Nagar)?

The Sub Registrar Office for Kannagi street (Thiru Nagar) is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How is stamp duty calculated for properties in Kodambakkam?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, if the guideline value is Rs 49,00,000, the stamp duty would be calculated accordingly.