Guideline Value for Kannan Nagar

Kannan Nagar guideline value

The current guideline value of Kannan Nagar, located in Mannivakkam village under the Gooduvancheri SRO, is Rs 990 per sq.ft, effective from 1 July 2024. This area is classified as 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. The earliest recorded figure is from 2007, where the value was Rs 250 per sq.ft. This figure increased significantly to Rs 900 per sq.ft in 2012, marking a 260% rise. However, it then saw a decline to Rs 603 per sq.ft in 2017, which is a decrease of 33%. The value rose again to Rs 900 per sq.ft in 2023, before reaching the current figure of Rs 990 per sq.ft in 2024, reflecting a 10% increase.

From 2017 to 2023, the value increased by 49%. Overall, from the 2007 revision to the current 2024 figure, the guideline value has increased by 296%. It is important to note that the register has no figures for the years 2002 and 2003 for this street.

Guideline values in Mannivakkam

In Mannivakkam, there are 118 streets under the Gooduvancheri SRO with a 2024 guideline value ranging from Rs 330 to Rs 4,300 per sq.ft. The median value for these streets is Rs 1,215 per sq.ft, indicating that Kannan Nagar's 2024 figure is below this median.

• Kannagi Street: Rs 990 per sq.ft (2024)
• Karapudi Amman Koil Street: Rs 2,640 per sq.ft (2024)
• Kanimozhi Aravindan Nagar: Rs 1,320 per sq.ft (2024)
• Karumari Amman Kovil Theru: Rs 1,320 per sq.ft (2024)
• Karumariamman Nagar: Rs 990 per sq.ft (2024)
• Kalyani garden: Rs 990 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 would be Rs 9,90,000. The stamp duty at 7% would amount to Rs 69,300, and the registration fee at 2% would be Rs 19,800, bringing the total to 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 more details, 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. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Mannivakkam, as it determines the minimum price at which a property can be registered. Buyers and sellers must consider this value when negotiating sale prices, as the registration process will be based on the guideline value or the sale price, whichever is higher.

During the registration process, the guideline value ensures that the government receives the appropriate stamp duty and registration fees. Therefore, it is essential for both buyers and sellers to be aware of the current guideline value to avoid any discrepancies during the transaction.

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 250 per sq.ft in 2007 to Rs 990 per sq.ft in 2024, reflecting a total increase of 296% over the years.

What is the median guideline value in Mannivakkam?

The median guideline value for the 118 streets in Mannivakkam is Rs 1,215 per sq.ft, which is higher than Kannan Nagar's current value.

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

For a property valued at Rs 9,90,000, the stamp duty would be Rs 69,300 and the registration fee would be Rs 19,800, totaling Rs 89,100.

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.