Guideline Value for Kannan Nagar

Kannan Nagar guideline value

The current guideline value of Kannan Nagar, located in Zaminpallavaram village under the Pallavaram SRO, is Rs 3,300 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Class I Type - II.

How the guideline value of Kannan Nagar has changed

Beginning with the 2003 revision, the guideline value for Kannan Nagar was Rs 155 per sq.ft. This figure saw a significant increase in the 2007 revision, where it rose to Rs 600 per sq.ft, marking a change of +287%. The 2012 revision maintained the value at Rs 3,000 per sq.ft, reflecting no change from the previous revision.

The guideline value then remained at Rs 3,000 per sq.ft until the 2023 revision, which also held the same figure. In the most recent 2024 revision, the guideline value increased to Rs 3,300 per sq.ft, representing a change of +10%. Overall, from 2003 to 2024, the guideline value has increased by +2029%.

Guideline values in Zaminpallavaram

In Zaminpallavaram, there are 638 streets under the Pallavaram SRO that carry a 2024 guideline value ranging from Rs 2,100 to Rs 11,000 per sq.ft. The median value is Rs 3,300 per sq.ft, which is equal to the guideline value of Kannan Nagar.

• Kannan Nagar Pillaiyar Koil Street: Rs 2,100 per sq.ft (2024)
• Kannappan Street: Rs 2,100 per sq.ft (2024)
• Kanni Koil Street: Rs 2,750 per sq.ft (2024)
• Kannadasan Street, Rajiv Gandhi Street: Rs 3,300 per sq.ft (2024)
• Karikalan Street: Rs 3,300 per sq.ft (2024)
• Kannabiran Street: Rs 2,750 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 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, while the registration fee at 2% would be Rs 66,000, bringing the total fees together to Rs 2,97,000. 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 Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Zaminpallavaram. It is used to determine the stamp duty and registration fees applicable to the transaction, ensuring that these fees are calculated based on a standardized value set by the government.

When a property is sold, the guideline value serves as a reference point to assess the minimum value for taxation purposes. Buyers and sellers must be aware of this value to ensure compliance with local regulations during the registration process.

Frequently asked questions

What is the current guideline value of Kannan Nagar?

The current guideline value of Kannan Nagar is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 155 per sq.ft in 2003 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of +2029% over this period.

What is the land classification for Kannan Nagar?

Kannan Nagar is classified as Residential Class I Type - II, indicating its designation for residential use.

What are the stamp duty rates for property in Kannan Nagar?

The stamp duty for property transactions in Kannan Nagar is charged at a rate of 7% on the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Kannan Nagar located?

The Sub Registrar Office for Kannan Nagar is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, in the Chengalpattu registration zone.