Guideline Value for Kannan Nagar 4th Street

Kannan Nagar 4th Street guideline value

The current guideline value of Kannan Nagar 4th Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Maduravoyal village, under the Virugambakkam SRO, and is classified as Residential Class V Type - I.

How the guideline value of Kannan Nagar 4th Street has changed

The guideline value for Kannan Nagar 4th Street has undergone several revisions over the years. Starting with the 2002 revision, the guideline value was Rs 117 per sq.ft. It increased to Rs 128 per sq.ft in 2003, marking a change of +9%. The value saw a significant rise to Rs 400 per sq.ft in 2007, an increase of +213%. In 2012, it was recorded at Rs 2,000 per sq.ft, reflecting a decrease of -33% from the previous revision. The value then rose again to Rs 1,340 per sq.ft in 2017, which was a +49% increase. The 2023 revision set the guideline value at Rs 2,000 per sq.ft, and the latest revision in 2024 established it at Rs 2,200 per sq.ft, a change of +10%.

It is important to note that there are no figures available for the years between the revisions listed above.

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, with a median value of Rs 3,050 per sq.ft. Kannan Nagar 4th Street's 2024 figure is below this median.

• Kannan Nagar 3rd Street: Rs 2,200 per sq.ft (2024)
• Kannan Nagar 5th Street: Rs 2,200 per sq.ft (2024)
• Kannan Nagar 2nd Street: Rs 2,200 per sq.ft (2024)
• Kannan Nagar (Vadaveni Amman Nagar) Main Road: Rs 2,200 per sq.ft (2024)
• Kannan Nagar 1st Street: Rs 2,200 per sq.ft (2024)
• Kannappa Nagar: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Kannan Nagar 4th 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, while the registration fee at 2% would be Rs 44,000. Together, the total cost for these fees would be Rs 1,98,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kannan Nagar 4th Street?

The Kannan Nagar 4th Street is covered by the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more information.

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

The guideline value is a critical factor in the registration of property transactions in Maduravoyal. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is conducted at a fair and transparent rate.

When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees, which are essential costs involved in the transaction process. This ensures that both parties are aware of the financial implications of the sale or purchase, based on the prevailing guideline value.

Frequently asked questions

What is the current guideline value of Kannan Nagar 4th Street?

The current guideline value of Kannan Nagar 4th 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 changed from Rs 117 per sq.ft in 2002 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of +1780% over the years.

What are the stamp duty and registration fees for property in Kannan Nagar 4th Street?

The stamp duty is charged at 7%, and the registration fee is charged at 2% of the guideline value. For a 1,000 sq.ft plot, the total fees would amount to Rs 1,98,000.

Which Sub Registrar Office covers Kannan Nagar 4th Street?

The Virugambakkam Sub Registrar Office covers Kannan Nagar 4th Street, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

What is the land classification for Kannan Nagar 4th Street?

Kannan Nagar 4th Street is classified as Residential Class V Type - I, indicating its designation for residential purposes.