Guideline Value for Kannaiya Nagar Phase-I

Kannaiya Nagar Phase-I guideline value

The current guideline value of Kannaiya Nagar Phase-I is Rs 400 per sq.ft, effective from the 2024 revision. This area is located in Siruvanchur village under the Gooduvancheri SRO, classified as Residential Special Type - II.

How the guideline value of Kannaiya Nagar Phase-I has changed

The guideline value for Kannaiya Nagar Phase-I has seen several revisions over the years. The 2012 revision set the value at Rs 400 per sq.ft, which remained unchanged until the 2023 revision, also at Rs 400 per sq.ft. The 2017 revision marked a significant increase to Rs 268 per sq.ft, showing a 33% decrease from the previous revision. However, from 2017 to 2023, there was a notable increase of 49% back to Rs 400 per sq.ft.

Looking at the most recent revisions, the 2024 revision maintains the guideline value at Rs 400 per sq.ft, reflecting no change from the 2023 revision. Notably, there are no registered figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Siruvanchur

In Siruvanchur, there are eight streets under the Gooduvancheri SRO that carry a 2024 guideline value of Rs 400 per sq.ft. The median guideline value for these streets is also Rs 400 per sq.ft, placing Kannaiya Nagar Phase-I at this median value.

• Lake View: Rs 400 per sq.ft (2024)
• Maniyammai Nagar: Rs 400 per sq.ft (2024)
• Maniyammai Nagar Ist Avenue: Rs 400 per sq.ft (2024)
• Chakravarthy Nagar: Rs 400 per sq.ft (2024)
• Sri Sai Nagar: Rs 400 per sq.ft (2024)
• Sri Sai Nagar Part-I: Rs 400 per sq.ft (2024)

Stamp duty and registration fee for property in Kannaiya Nagar Phase-I

For a 1,000 sq.ft plot at the current guideline value of Rs 400 per sq.ft, the total guideline value amounts to Rs 4,00,000. The stamp duty at 7% would be Rs 28,000, and the registration fee at 2% would be Rs 8,000, bringing the total cost for these fees to Rs 36,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kannaiya Nagar Phase-I?

The Sub Registrar Office that covers Kannaiya Nagar Phase-I 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 information.

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

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

When a property is registered, the guideline value is considered to ensure that the transaction is recorded accurately. This value helps in maintaining transparency and consistency in property transactions within the region.

Frequently asked questions

What is the current guideline value of Kannaiya Nagar Phase-I?

The current guideline value of Kannaiya Nagar Phase-I is Rs 400 per sq.ft, effective from the 2024 revision.

How has the guideline value changed over the years?

The guideline value has remained at Rs 400 per sq.ft since 2012, with a notable increase from Rs 268 per sq.ft in 2017 to Rs 400 per sq.ft in 2023, and it has not changed in 2024.

What is the land classification of Kannaiya Nagar Phase-I?

Kannaiya Nagar Phase-I is classified as Residential Special Type - II, indicating its suitability for residential development.

Where can I find the Sub Registrar Office for Kannaiya Nagar Phase-I?

The Gooduvancheri Sub Registrar Office covers Kannaiya Nagar Phase-I and is located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone.

How is the stamp duty calculated for properties in Kannaiya Nagar Phase-I?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at Rs 400 per sq.ft, the stamp duty would amount to Rs 28,000.