Guideline Value for Kannammal Nagar

Kannammal Nagar guideline value

The current guideline value of Kannammal Nagar is Rs 3,300 per sq.ft, effective from 1 July 2024. This area is located in Hastinapuram village and falls under the Pallavaram SRO, classified as Commercial Class I Type - II.

How the guideline value of Kannammal Nagar has changed

The guideline value for Kannammal Nagar has seen significant revisions over the years. In 2007, the guideline value was Rs 400 per sq.ft, which increased dramatically to Rs 3,000 per sq.ft in 2012, marking a rise of 650%. However, between 2012 and 2017, the value decreased by 33% to Rs 2,010 per sq.ft. The subsequent revision in 2023 brought the value up to Rs 3,000 per sq.ft, and the latest revision in 2024 has raised it further to Rs 3,300 per sq.ft, reflecting a 10% increase from the previous year. The register does not have figures for the years 2002 and 2003 for this street.

Overall, from 2007 to 2024, the guideline value has increased by 725%. The increase from 2017 to 2023 was 49%, showcasing a substantial rise in the value over the past few years.

Guideline values in Hastinapuram

In Hastinapuram, there are 277 streets under the Pallavaram SRO, with guideline values ranging from Rs 1,650 to Rs 4,400 per sq.ft as of 2024. The median guideline value for these streets is Rs 2,970 per sq.ft, placing Kannammal Nagar's value above this median.

• Kannammal Street: Rs 2,970 per sq.ft (2024)
• Kannagi Street: Rs 1,650 per sq.ft (2024)
• Kannabiran Koil Street: Rs 1,650 per sq.ft (2024)
• Karpagambal Street: Rs 2,380 per sq.ft (2024)
• Kambar Street: Rs 1,650 per sq.ft (2024)
• Karumarriyamman Koil 1st Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Kannammal Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, resulting in a total of Rs 2,97,000. 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 Nagar?

The Sub Registrar Office that covers Kannammal Nagar is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during property transactions in Hastinapuram. It is used to determine the stamp duty and registration fees that need to be paid when buying or selling property. The higher of the guideline value or the actual sale price will be considered for calculating these fees.

When registering a property, the guideline value ensures that the transaction is recorded at a fair price, reflecting the value of the property in that area. This helps maintain transparency and accountability in real estate transactions.

Frequently asked questions

What is the current guideline value of Kannammal Nagar?

The current guideline value of Kannammal Nagar is Rs 3,300 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 400 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, marking an overall increase of 725% over the years.

What are the other streets in Hastinapuram and their guideline values?

Other streets in Hastinapuram include Kannammal Street at Rs 2,970 per sq.ft, Kannagi Street at Rs 1,650 per sq.ft, and Karumarriyamman Koil 1st Street at Rs 4,400 per sq.ft, among others.

What are the stamp duty and registration fees for properties in Kannammal Nagar?

The stamp duty is 7% of the guideline value or sale price, whichever is higher, and the registration fee is 2%. For a 1,000 sq.ft plot, the total fees would amount to Rs 2,97,000 based on the current guideline value.

Which office do I need to visit for property registration in Kannammal Nagar?

The Pallavaram Sub Registrar Office is responsible for property registrations in Kannammal Nagar, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.