Guideline Value for Kannammaal Nagar

Kannammaal Nagar guideline value

The current guideline value of Kannammaal Nagar, located in Kovilpathagai village under the Ambattur SRO, is Rs 806 per sq.ft. This value is effective from 1 July 2024 and falls under the Residential Class III Type - I land classification.

How the guideline value of Kannammaal Nagar has changed

The guideline value for Kannammaal Nagar has seen several revisions over the years. Starting from the 2012 revision, the guideline value was Rs 600 per sq.ft. This figure increased to Rs 402 per sq.ft in the 2017 revision, marking a decrease of 33%. However, from 2017 to 2023, the value rose significantly to Rs 806 per sq.ft, reflecting a 100% increase. The 2023 revision maintained the same value of Rs 806 per sq.ft, which will continue into the 2024 revision.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for this street. Overall, from 2012 to 2024, the guideline value has increased by 34%.

Guideline values in Kovilpathagai

Kovilpathagai village comprises 278 streets under the Ambattur SRO, with the 2024 guideline values ranging from Rs 803 to Rs 2,900 per sq.ft. The median guideline value for these streets is Rs 870 per sq.ft, placing the Kannammaal Nagar guideline value below this median.

• Kannappa Gileri Street: Rs 805 per sq.ft (2024)
• Kanadasan Street: Rs 880 per sq.ft (2024)
• Kammala Street: Rs 806 per sq.ft (2024)
• Kambar Street: Rs 806 per sq.ft (2024)
• Karnam Street: Rs 807 per sq.ft (2024)
• Karnam Street Extn: Rs 807 per sq.ft (2024)

Stamp duty and registration fee for property in Kannammaal Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 806 per sq.ft, the total guideline value would be Rs 8,06,000. The stamp duty at 7% would amount to Rs 56,420, and the registration fee at 2% would be Rs 16,120, bringing the total cost to Rs 72,540. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kannammaal Nagar?

The Sub Registrar Office that covers Kannammaal Nagar is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role in property transactions in Kovilpathagai. It serves as a benchmark for determining the stamp duty and registration fees during the sale or purchase of property. Buyers and sellers must consider this value to ensure compliance with legal requirements during the registration process.

When a property is sold, the guideline value is used to calculate the applicable taxes and fees. This ensures that both parties are aware of the financial implications involved in the transaction, providing transparency and clarity in the process.

Frequently asked questions

What is the current guideline value of Kannammaal Nagar?

The current guideline value of Kannammaal Nagar is Rs 806 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2012 to Rs 806 per sq.ft in 2024, with significant increases noted in the revisions from 2017 to 2023.

What is the land classification for Kannammaal Nagar?

Kannammaal Nagar falls under the Residential Class III Type - I land classification.

Where can I find the registration office for Kannammaal Nagar?

The registration office for Kannammaal Nagar is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

How is stamp duty calculated for properties in Kannammaal Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property with a guideline value of Rs 8,06,000 would incur a stamp duty of Rs 56,420 at a rate of 7%.