Guideline Value for Kannammal Garden

Kannammal Garden guideline value

The current guideline value of Kannammal Garden is Rs 2,750 per sq.ft, effective from 1 July 2024. This area is located in Valasaravakkam village, under the Virugambakkam SRO, and is classified as Residential Class IV Type - I.

How the guideline value of Kannammal Garden has changed

The guideline value for Kannammal Garden has undergone several revisions over the years. In 2002, the guideline value was Rs 429 per sq.ft. It increased to Rs 467 per sq.ft in 2003, followed by a modest rise to Rs 500 per sq.ft in 2007. The value saw a significant jump to Rs 2,500 per sq.ft in 2012, but then dropped to Rs 1,675 per sq.ft in 2017. The most recent revisions show an increase to Rs 2,500 per sq.ft in 2023, and the current value is Rs 2,750 per sq.ft from the 2024 revision.

Between the revisions, there have been notable changes. From 2002 to 2003, the increase was +9%, and from 2003 to 2007, it rose by +7%. The jump from 2007 to 2012 was +400%, followed by a decrease of -33% from 2012 to 2017. The value then surged by +49% from 2017 to 2023, and finally increased by +10% from 2023 to 2024. Overall, from 2002 to 2024, the guideline value has increased by +541%.

Guideline values in Valasaravakkam

In Valasaravakkam, there are 774 streets under the Virugambakkam SRO, with 2024 guideline values ranging from Rs 2,750 to Rs 8,800 per sq.ft. The median value is Rs 3,850 per sq.ft, making the guideline value for Kannammal Garden below this median.

• Kannammal 3rd Cross Street: Rs 2,750 per sq.ft (2024)
• Kannammal Nagar 1st Street: Rs 2,750 per sq.ft (2024)
• Kannammal 2nd Cross Street: Rs 2,750 per sq.ft (2024)
• Kannammal Nagar 2nd Street: Rs 2,750 per sq.ft (2024)
• Kannammal 1st Cross Street: Rs 2,750 per sq.ft (2024)
• Kannammal Nagar Avenue: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Kannammal Garden

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value would be Rs 27,50,000. The stamp duty at 7% would amount to Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, bringing the total to Rs 2,47,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kannammal Garden?

The Sub Registrar Office that covers Kannammal Garden is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. To find your specific SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in property transactions in Valasaravakkam. It is used to determine the stamp duty and registration fees that need to be paid during the registration process. Buyers and sellers must be aware of the guideline value to ensure compliance with legal requirements and to avoid any potential disputes.

When purchasing property, the guideline value helps establish a baseline for the property's worth, influencing negotiations and final sale prices. It is essential for all parties involved in a transaction to understand how the guideline value affects their financial obligations and the overall process.

Frequently asked questions

What is the current guideline value of Kannammal Garden?

The current guideline value of Kannammal Garden is Rs 2,750 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 429 per sq.ft in 2002 to Rs 2,750 per sq.ft in 2024, reflecting an overall increase of +541% over the years.

What is the land classification of Kannammal Garden?

Kannammal Garden is classified as Residential Class IV Type - I, indicating its suitability for residential development.

What are the stamp duty and registration fees for property in Kannammal Garden?

For a property valued at Rs 27,50,000, the stamp duty would be Rs 1,92,500 and the registration fee would be Rs 55,000, totaling Rs 2,47,500.

Where is the Sub Registrar Office for Kannammal Garden located?

The Virugambakkam Sub Registrar Office is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037, covering the Kannammal Garden area.