Guideline Value for Kannammal Garden

Kannammal Garden guideline value

The current guideline value of Kannammal Garden, located in Salamangalam village under the Sriperumpudur SRO, is Rs 550 per sq.ft, effective from 1 July 2024. This area is classified as Residential Special Type - I.

How the guideline value of Kannammal Garden has changed

The guideline value for Kannammal Garden has seen several revisions over the years. The 2007 revision set the value at Rs 195 per sq.ft, which increased to Rs 550 per sq.ft in the 2012 revision. However, this was followed by a decrease to Rs 368 per sq.ft in the 2017 revision. The 2023 revision maintained the value at Rs 550 per sq.ft, and the latest 2024 revision also holds the value at Rs 550 per sq.ft, indicating no change from the previous year.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 182%. The register does not provide figures for the years 2002 and 2003 for this street.

Guideline values in Salamangalam

In Salamangalam, there are 59 streets under the Sriperumpudur SRO that carry a 2024 guideline value ranging from Rs 200 to Rs 3,100 per sq.ft, with a median value of Rs 500 per sq.ft. The guideline value for Kannammal Garden is above this median.

• Kannan Nagar: Rs 550 per sq.ft (2024)
• Jaya Chitra Nagar: Rs 200 per sq.ft (2024)
• Ishwarya Nagar Extension: Rs 600 per sq.ft (2024)
• Indhu Nagar Extn: Rs 400 per sq.ft (2024)
• Indhu Nagar: Rs 400 per sq.ft (2024)
• Mahalakshmi Nagar: Rs 400 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 550 per sq.ft, the total guideline value amounts to Rs 5,50,000. The stamp duty at 7% would be Rs 38,500, and the registration fee at 2% would be Rs 11,000, making the total cost for these fees Rs 49,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the 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 Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Salamangalam. It serves as a benchmark for determining the minimum value at which a property can be registered. This ensures that the government collects appropriate stamp duty and registration fees based on the guideline value.

When buying or selling property, the guideline value is used to assess the transaction's legitimacy and to prevent undervaluation. It is essential for buyers and sellers to be aware of the current guideline value to ensure compliance with registration requirements.

Frequently asked questions

What is the current guideline value of Kannammal Garden?

The current guideline value of Kannammal Garden is Rs 550 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 195 per sq.ft in 2007 to Rs 550 per sq.ft in 2012, then decreased to Rs 368 per sq.ft in 2017, and has remained at Rs 550 per sq.ft in both the 2023 and 2024 revisions.

What is the land classification for Kannammal Garden?

Kannammal Garden is classified as Residential Special Type - I, which indicates its designated use for residential purposes.

What are the stamp duty rates for property transactions?

The stamp duty rate for property transactions in Kannammal Garden is 7%, while the registration fee is 2% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Kannammal Garden?

The Sub Registrar Office for Kannammal Garden is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.