Guideline Value for Kannan Nagar

Kannan Nagar guideline value

The current guideline value of Kannan Nagar is Rs 500 per sq.ft, effective from 1 July 2024. This area is located in Ammanambakkam village and falls under the Gooduvancheri SRO. The land classification for this street is Residential Special Type - I.

How the guideline value of Kannan Nagar has changed

The guideline value for Kannan Nagar has seen several revisions over the years. The 2007 revision set the value at Rs 175 per sq.ft, which increased significantly to Rs 500 per sq.ft in the 2012 revision. However, it then decreased to Rs 335 per sq.ft in the 2017 revision. The 2023 revision maintained the value at Rs 500 per sq.ft, and the current 2024 revision also holds the same value, indicating no change from the previous year.

In summary, the changes between revisions show a 186% increase from the 2007 figure to the 2024 figure. The 2017 to 2023 period saw a 49% increase, while the 2012 to 2017 period experienced a decrease of 33%. Overall, the guideline value has remained stable from 2023 to 2024.

Guideline values in Ammanambakkam

In Ammanambakkam, there are 15 streets under the Gooduvancheri SRO that carry a 2024 guideline value ranging from Rs 400 to Rs 500 per sq.ft, with the median value being Rs 500 per sq.ft. Kannan Nagar's 2024 figure aligns with this median.

• David Nagar (Phase-3): Rs 500 per sq.ft (2024)
• David Nagar (Phase-2): Rs 500 per sq.ft (2024)
• David Nagar (Phase-1) Extn: Rs 500 per sq.ft (2024)
• David Nagar (Phase-1): Rs 500 per sq.ft (2024)
• Babu Nagar: Rs 400 per sq.ft (2024)
• Arunachaleeswarar Farm land: Rs 400 per sq.ft (2024)

Stamp duty and registration fee for property in Kannan Nagar

For a 1,000 sq.ft plot at the current rate of Rs 500 per sq.ft, the guideline value would be Rs 5,00,000. The stamp duty at 7% would amount to Rs 35,000, and the registration fee at 2% would be Rs 10,000, totaling Rs 45,000. 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?

Kannan Nagar falls under the jurisdiction of the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone.

To find your SRO, visit find your SRO.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Ammanambakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

Buyers and sellers must be aware that the guideline value may differ from the actual sale price, but the duty is calculated based on the higher of the two. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Kannan Nagar?

The current guideline value of Kannan Nagar is Rs 500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 175 per sq.ft in 2007 to Rs 500 per sq.ft in 2012, decreased to Rs 335 per sq.ft in 2017, and has remained at Rs 500 per sq.ft in both the 2023 and 2024 revisions.

What is the land classification for Kannan Nagar?

Kannan Nagar is classified as Residential Special Type - I, which indicates its suitability for residential development.

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

The stamp duty is calculated at 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total fees would amount to Rs 45,000.

Where is the Gooduvancheri Sub Registrar Office located?

The Gooduvancheri Sub Registrar Office is located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone.