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Guideline Value

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Guideline Value for Kannan Nagar 2nd Street

₹2200/sq.ft.

The guideline value for Kannan Nagar 2nd Street in Maduravoyal village (Virugambakkam SRO, Chennai zone) is Rs 2200 per sq.ft, effective 1 July 2024. It was Rs 2000 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Class V Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Maduravoyal

Village

Virugambakkam

SRO

Residential Class V Type - I
History
Period Guideline Value
From 1-7-2024 ₹2200 /sq.ft.
From 1-4-2023 ₹2000 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹1340 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹2000 /sq.ft.
From 1-8-2007 To 31-3-2012 ₹400 /sq.ft.
From 1-4-2003 To 31-7-2007 ₹128 /sq.ft.
From 1-4-2002 To 31-3-2003 ₹117 /sq.ft.
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037
044-23641794
[email protected]

DRO (District Registrar Office)

Integrated Building For Offices Of The Commercial Taxes And Registration Department, Fanepet, Nandhanam, Chennai - 35.
044-22505552
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on Kannan Nagar 2nd Street

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Kannan Nagar 2nd Street guideline value

The current guideline value of Kannan Nagar 2nd Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Maduravoyal village under the Virugambakkam SRO, classified as Residential Class V Type - I.

How the guideline value of Kannan Nagar 2nd Street has changed

The guideline value for Kannan Nagar 2nd Street has undergone several revisions since 2002. In 2002, the guideline value was Rs 117 per sq.ft, which increased to Rs 128 per sq.ft in 2003, marking a 9% rise. The value saw a significant jump to Rs 400 per sq.ft in 2007, representing a 213% increase. Following this, the value rose dramatically to Rs 2,000 per sq.ft in 2012, reflecting a 400% increase. However, it decreased to Rs 1,340 per sq.ft in 2017, a drop of 33%. The value then increased to Rs 2,000 per sq.ft in 2023, before reaching the current rate of Rs 2,200 per sq.ft in 2024, which is a 10% increase.

There are no figures available for the years not listed in the register for this street. The overall change from 2002 to 2024 is a remarkable increase of 1,780%.

Guideline values in Maduravoyal

In Maduravoyal, there are 636 streets under the Virugambakkam SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 6,050 per sq.ft. The median guideline value for these streets is Rs 3,050 per sq.ft, placing Kannan Nagar 2nd Street's 2024 figure below that median.

Stamp duty and registration fee for property in Kannan Nagar 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, totaling Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kannan Nagar 2nd Street?

The Sub Registrar Office that covers Kannan Nagar 2nd Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more details.

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

The guideline value is a crucial factor during the registration of property transactions in Maduravoyal. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property being bought or sold.

When a buyer or seller approaches the registration office, the guideline value is used to calculate the necessary fees, ensuring compliance with local regulations. This value helps maintain transparency and standardization in property transactions.

Frequently asked questions

What is the current guideline value of Kannan Nagar 2nd Street?

The current guideline value of Kannan Nagar 2nd Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased significantly from Rs 117 per sq.ft in 2002 to Rs 2,200 per sq.ft in 2024, which is an overall increase of 1,780%.

What is the stamp duty for property in Kannan Nagar 2nd Street?

The stamp duty for property in Kannan Nagar 2nd Street is 7% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Kannan Nagar 2nd Street located?

The Sub Registrar Office for Kannan Nagar 2nd Street is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

What is the median guideline value in Maduravoyal?

The median guideline value for streets in Maduravoyal is Rs 3,050 per sq.ft, which is higher than the current guideline value of Kannan Nagar 2nd Street.