Guideline Value for Kannan Nagar

Kannan Nagar guideline value

The current guideline value of Kannan Nagar is Rs 990 per sq.ft, effective from 1 July 2024. This area is located in Melamaiyur village under the Chengleput Joint I SRO, classified as Mixed Type - III land.

How the guideline value of Kannan Nagar has changed

The guideline value for Kannan Nagar has undergone several revisions over the years. The most recent revision in 2024 set the value at Rs 990 per sq.ft, which is an increase from Rs 900 per sq.ft in 2023, marking a 10% rise. Prior to that, the 2017 revision recorded the value at Rs 603 per sq.ft, showing a significant increase of 49% from the previous 2023 figure. The 2012 revision had the value at Rs 900 per sq.ft, which was a decrease of 33% from Rs 603 per sq.ft in 2017. The 2007 revision set the value at Rs 225 per sq.ft, reflecting a substantial increase of 300% to reach the 2012 figure. There are no figures available for the years 2002 and 2003 in the register for this street.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 340%. The changes in the values over the years highlight the fluctuations in property valuation within Kannan Nagar.

Guideline values in Melamaiyur

In Melamaiyur, there are 37 streets under the Chengleput Joint I SRO that carry a 2024 guideline value ranging from Rs 440 to Rs 3,000 per sq.ft. The median guideline value for these streets is Rs 1,212 per sq.ft, placing Kannan Nagar's 2024 value below this median.

• Kanthavelu Nagar: Rs 1,322 per sq.ft (2024)
• Kanagasundaram Nagar: Rs 825 per sq.ft (2024)
• K.K.Nagar: Rs 825 per sq.ft (2024)
• Lake Avenue: Rs 1,322 per sq.ft (2024)
• Lakshmi Nagar: Rs 1,212 per sq.ft (2024)
• Manickam Nagar: Rs 825 per sq.ft (2024)

Stamp duty and registration fee for property in Kannan Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 990 per sq.ft, the total guideline value amounts to Rs 9,90,000. The stamp duty at 7% would be Rs 69,300, and the registration fee at 2% would be Rs 19,800, resulting in a total of Rs 89,100. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For further calculations, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kannan Nagar?

The Kannan Nagar area falls under the Chengleput Joint I Sub Registrar Office located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role in property transactions within Melamaiyur. It is used to determine the stamp duty and registration fees applicable when buying or selling property. Buyers and sellers must be aware that the guideline value is a key factor in calculating the total costs involved in property registration.

When registering a property, the guideline value ensures that the transaction reflects a fair valuation of the property, which is essential for legal and financial purposes. It is advisable for buyers and sellers to check the current guideline value to understand their obligations and costs accurately.

Frequently asked questions

What is the current guideline value of Kannan Nagar?

The current guideline value of Kannan Nagar is Rs 990 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 225 per sq.ft in 2007 to Rs 990 per sq.ft in 2024, reflecting an overall increase of 340% over the years.

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

For a 1,000 sq.ft plot, the stamp duty would be Rs 69,300 and the registration fee would be Rs 19,800, totaling Rs 89,100 based on the current guideline value.

Which Sub Registrar Office covers Kannan Nagar?

Kannan Nagar is covered by the Chengleput Joint I Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.

What is the land classification of Kannan Nagar?

Kannan Nagar is classified as Mixed Type - III land, which indicates the type of development and usage permitted in the area.