Guideline Value for Kannan Nagar

Kannan Nagar guideline value

The current guideline value of Kannan Nagar, located in Adhanoor village under the Gooduvancheri SRO, is Rs 1,000 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Special Type - I.

How the guideline value of Kannan Nagar has changed

Over the years, the guideline value for Kannan Nagar has seen several revisions. The earliest recorded revision was in 2007, with a guideline value of Rs 200 per sq.ft. This figure increased significantly to Rs 1,000 per sq.ft in 2012, marking a 400% rise. However, the value dropped to Rs 670 per sq.ft in 2017, a decrease of 33%. The subsequent revision in 2023 maintained the value at Rs 1,000 per sq.ft, and the latest revision in 2024 also holds this value steady, showing no change from the previous year.

In summary, from 2007 to 2024, the overall change in guideline value is an increase of 400%. It is important to note that there are no figures available for the years 2002 and 2003 in the register for this street.

Guideline values in Adhanoor

In Adhanoor, there are a total of 169 streets under the Gooduvancheri SRO that carry a 2024 guideline value, ranging from Rs 670 to Rs 3,000 per sq.ft. The median guideline value for these streets is Rs 1,000 per sq.ft, which is equal to the current value for Kannan Nagar.

• Kanchi Kamachi Nagar: Rs 1,000 per sq.ft (2024)
• Karthik Nagar: Rs 1,000 per sq.ft (2024)
• Karthik Nagar Extn: Rs 1,000 per sq.ft (2024)
• Karumuthu Thiyagaraja Nagar: Rs 1,000 per sq.ft (2024)
• Kavignar Kannadasan Nagar: Rs 1,000 per sq.ft (2024)
• K.M.A. Avenue: Rs 1,000 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 1,000 per sq.ft, the total guideline value amounts to Rs 10,00,000. The stamp duty, charged at 7%, would be Rs 70,000, while the registration fee at 2% would be Rs 20,000. The total cost for these fees together would be Rs 90,000. 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?

Kannan Nagar falls under the jurisdiction of the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanchery-603202, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Adhanoor. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded at a fair value as per the government standards.

When buying or selling property, the guideline value influences the stamp duty and registration fees applicable to the transaction. Buyers must be aware that these fees are calculated based on the higher of the guideline value or the actual sale price, impacting the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Kannan Nagar?

The current guideline value of Kannan Nagar is Rs 1,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 200 per sq.ft in 2007 to Rs 1,000 per sq.ft in 2012, then decreased to Rs 670 per sq.ft in 2017, and remained at Rs 1,000 per sq.ft in 2023 and 2024.

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

The stamp duty is 7% and the registration fee is 2% of the guideline value. For a property valued at Rs 10,00,000, the total fees would amount to Rs 90,000.

Which Sub Registrar Office covers Kannan Nagar?

Kannan Nagar is covered by the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanchery-603202, Chengalpattu registration zone.

What is the land classification for Kannan Nagar?

The land classification for Kannan Nagar is Residential Special Type - I, which is significant for understanding the zoning and usage regulations in the area.