Guideline Value for Kannan Nagar

Kannan Nagar guideline value

The current guideline value of Kannan Nagar, located in Kanchivakkam village, is Rs 600 per sq.ft, effective from 1 July 2024. This area falls under the Gooduvancheri SRO and is classified as 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 most recent revision in 2024 maintains the guideline value at Rs 600 per sq.ft, unchanged from the 2023 revision. The 2017 revision recorded a guideline value of Rs 402 per sq.ft, marking a significant increase of 49% from the previous 2023 figure. In contrast, the 2012 revision had set the guideline value at Rs 600 per sq.ft, which was a decrease of 33% from the 2017 figure. Overall, from the 2012 revision to the 2024 revision, the guideline value has remained stable at Rs 600 per sq.ft.

It is important to note that there are no recorded figures for Kannan Nagar in the revisions of 2002, 2003, and 2007. The fluctuations in guideline value reflect the adjustments made over the years based on various factors, but the current value reflects stability since the 2012 revision.

Guideline values in Kanchivakkam

Kanchivakkam village has a total of 23 streets under the Gooduvancheri SRO that carry a 2024 guideline value, ranging from Rs 400 to Rs 600 per sq.ft. Kannan Nagar's 2024 figure of Rs 600 per sq.ft is above the median value of Rs 500 per sq.ft for the village.

• Kuberan Nagar: Rs 500 per sq.ft (2024)
• Jayalakshmi Nagar Extention: Rs 600 per sq.ft (2024)
• Jayalakshmi Nagar: Rs 600 per sq.ft (2024)
• Jalamma Nagar: Rs 400 per sq.ft (2024)
• Lotus Enclave: Rs 600 per sq.ft (2024)
• Green Grove Jeyam Nagar Annex-V: Rs 600 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 600 per sq.ft, the total guideline value would be Rs 6,00,000. The stamp duty at 7% would amount to Rs 42,000, and the registration fee at 2% would be Rs 12,000, bringing the total additional costs to Rs 54,000. It is important to note that duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

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, Guduvancheri-603202, Chengalpattu registration zone. You can find your SRO for further assistance.

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

The guideline value is an essential factor when buying or selling property in Kanchivakkam, as it determines the amount of stamp duty and registration fees to be paid during the registration process. Buyers should be aware that the guideline value serves as a benchmark for property transactions and is used by the registration department to calculate applicable fees.

When a property is sold, the sale price or the guideline value, whichever is higher, is used to assess the total costs associated with the transaction. This ensures that the government receives the appropriate revenue from property sales, maintaining transparency in the real estate market.

Frequently asked questions

What is the current guideline value of Kannan Nagar?

The current guideline value of Kannan Nagar is Rs 600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 600 per sq.ft from 2012 to 2024, with a previous increase from Rs 402 per sq.ft in 2017. The 2023 revision also recorded Rs 600 per sq.ft, showing no change from the previous year.

What is the land classification of Kannan Nagar?

Kannan Nagar is classified as Residential Special Type - I, indicating its designation for residential development within the area.

Where can I find the registration office for Kannan Nagar?

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

How is stamp duty calculated in Kannan Nagar?

Stamp duty in Kannan Nagar is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value of Rs 600 per sq.ft would incur a stamp duty of Rs 42,000.