Guideline Value for Kannan Nagar

Kannan Nagar guideline value

The current guideline value of Kannan Nagar is Rs 700 per sq.ft, effective from 1 July 2024. This area is located in Atanancheri village and falls under the Gooduvancheri SRO. The land classification for this street is Residential Special Type - II.

How the guideline value of Kannan Nagar has changed

The guideline value for Kannan Nagar has seen several revisions over the years. In the 2007 revision, the value was Rs 165 per sq.ft, which increased significantly to Rs 700 per sq.ft in the 2012 revision, marking a 324% rise. However, it decreased to Rs 469 per sq.ft in the 2017 revision, a decline of 33%. The value then rose again to Rs 700 per sq.ft in the 2023 revision, maintaining the same rate in the 2024 revision, resulting in no change between these two years.

It is important to note that there are no figures available for the years 2002 and 2003 in the register for Kannan Nagar. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 324%.

Guideline values in Atanancheri

In Atanancheri, there are 83 streets under the Gooduvancheri SRO, with the 2024 guideline values ranging from Rs 400 to Rs 2,500 per sq.ft. The median guideline value for these streets is Rs 700 per sq.ft, which matches the current value for Kannan Nagar.

• Kannappa Nagar: Rs 800 per sq.ft (2024)
• Karumari Amman Nagar: Rs 500 per sq.ft (2024)
• Kamatchi Amman Nagar: Rs 800 per sq.ft (2024)
• K.M.R. Nagar: Rs 800 per sq.ft (2024)
• Kalaivani Nagar: Rs 800 per sq.ft (2024)
• Kumaran Nagar (Survey No.135/5): 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 700 per sq.ft, the total guideline value would be Rs 7,00,000. The stamp duty at 7% would amount to Rs 49,000, while the registration fee at 2% would be Rs 14,000. Together, the total cost for these fees would be Rs 63,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kannan Nagar?

The Sub Registrar Office that covers Kannan Nagar is 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 Atanancheri

The guideline value is a crucial factor in property transactions in Atanancheri. When buying or selling property, the guideline value is used to determine the stamp duty and registration fees that need to be paid. This ensures that the property is registered at a value that reflects the current market conditions as per the government regulations.

It is essential for buyers and sellers to be aware of the guideline value as it can impact the overall cost of the transaction. Accurate knowledge of the guideline value helps in making informed decisions during property dealings.

Frequently asked questions

What is the current guideline value of Kannan Nagar?

The current guideline value of Kannan Nagar is Rs 700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, with the most significant increase from Rs 165 per sq.ft in 2007 to Rs 700 per sq.ft in 2012. The value has remained at Rs 700 per sq.ft since the 2023 revision.

What are the other streets in Atanancheri with their guideline values?

Other streets in Atanancheri have varying guideline values, with rates ranging from Rs 400 to Rs 2,500 per sq.ft. The median value is Rs 700 per sq.ft, which is the same as Kannan Nagar's current value.

What fees are associated with buying property in Kannan Nagar?

When buying property in Kannan Nagar, buyers must pay a stamp duty of 7% and a registration fee of 2% based on the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Kannan Nagar?

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