Guideline Value for Kannaiyeram Street /Nagalkeni

Kannaiyeram Street /Nagalkeni guideline value

The current guideline value for Kannaiyeram Street /Nagalkeni is Rs 1,980 per sq.ft, effective from 1 July 2024. This street is located in Pammal village and falls under the Pammal SRO, classified as Residential Class II Type - II.

How the guideline value of Kannaiyeram Street /Nagalkeni has changed

The guideline value for Kannaiyeram Street /Nagalkeni has undergone several revisions over the years. Starting from Rs 189 per sq.ft in 2002, it rose to Rs 214 per sq.ft in 2003, marking a 13% increase. The value then saw a significant jump to Rs 570 per sq.ft in 2007, reflecting a 166% rise. By 2017, the value increased further to Rs 1,206 per sq.ft, which was a 112% increase from the previous revision. The next revision in 2023 set the value at Rs 1,800 per sq.ft, a 49% increase.

The most recent revision in 2024 has set the guideline value at Rs 1,980 per sq.ft, which is a 10% increase from the previous year. There is no figure available for the 2012 revision in the register for this street. Overall, from 2002 to 2024, the guideline value has increased by 948%.

Guideline values in Pammal

Pammal village has a total of 926 streets under the Pammal SRO, with guideline values ranging from Rs 880 to Rs 3,300 per sq.ft as of 2024. The median guideline value in this area is Rs 2,090 per sq.ft, placing Kannaiyeram Street /Nagalkeni's 2024 figure below that median.

• Kannairam Street, Sivasankaran Nagar: Rs 1,980 per sq.ft (2024)
• Kannageyi Street /V.O.C.Nagar: Rs 2,750 per sq.ft (2024)
• Kannageyi Street /Shivashankaran Nagar: Rs 1,980 per sq.ft (2024)
• Kannageyi Street /Ponni Nagar: Rs 1,980 per sq.ft (2024)
• Kannageyi Street /Muthamzhi Nagar: Rs 2,475 per sq.ft (2024)
• Kannageyi Street (Gandhi Nagar): Rs 2,475 per sq.ft (2024)

Stamp duty and registration fee for property in Kannaiyeram Street /Nagalkeni

For a 1,000 sq.ft plot at the current guideline value of Rs 1,980 per sq.ft, the total guideline value would be Rs 19,80,000. The stamp duty at 7% would amount to Rs 1,38,600, and the registration fee at 2% would be Rs 39,600, bringing the total to Rs 1,78,200. Duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kannaiyeram Street /Nagalkeni?

Kannaiyeram Street /Nagalkeni is covered by the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is an essential factor in the registration process of property transactions in Pammal. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property in the area.

When a property is sold, the guideline value helps in assessing the minimum value at which the property can be registered. This ensures that the transaction is documented accurately and that the appropriate taxes are collected by the government.

Frequently asked questions

What is the current guideline value of Kannaiyeram Street /Nagalkeni?

The current guideline value of Kannaiyeram Street /Nagalkeni is Rs 1,980 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 189 per sq.ft in 2002 to Rs 1,980 per sq.ft in 2024, representing an overall increase of 948% over the years.

What are the stamp duty and registration fees for properties in this area?

For a property valued at the current guideline value of Rs 19,80,000, the stamp duty would be Rs 1,38,600 and the registration fee would be Rs 39,600, totaling Rs 1,78,200.

Which Sub Registrar Office handles registrations for this street?

The Pammal Sub Registrar Office, located on Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, handles registrations for Kannaiyeram Street /Nagalkeni.

What is the land classification of Kannaiyeram Street /Nagalkeni?

Kannaiyeram Street /Nagalkeni is classified as Residential Class II Type - II, indicating its suitability for residential development.