Guideline Value for Kannan Nagar

Kannan Nagar guideline value

The current guideline value of Kannan Nagar is Rs 2,200 per sq.ft, effective from 1 July 2024. This area is located in Tambaram village and falls under the Tambaram Joint 1 SRO with a land classification of Residential Class I Type - II.

How the guideline value of Kannan Nagar has changed

The guideline value of Kannan Nagar has seen several revisions over the years. Starting from the 2002 revision, the guideline value was Rs 133 per sq.ft. It increased to Rs 164 per sq.ft in 2003, marking a rise of 23%. The value continued to rise significantly, reaching Rs 400 per sq.ft in 2007, which was a 144% increase. By 2012, the value was Rs 2,000 per sq.ft, reflecting a substantial increase of 400% from the previous revision.

In 2017, the guideline value dropped to Rs 1,340 per sq.ft, a decrease of 33%. However, it rebounded to Rs 2,000 per sq.ft in 2023, and then further increased to the current value of Rs 2,200 per sq.ft in 2024, which is a 10% rise. Overall, from 2002 to 2024, the guideline value has increased by 1554%.

Guideline values in Tambaram

In Tambaram village, there are 360 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value ranging from Rs 880 to Rs 8,250 per sq.ft, with a median value of Rs 3,300 per sq.ft. Kannan Nagar's 2024 guideline value is below this median.

• Kanniamman St: Rs 2,200 per sq.ft (2024)
• KanniyammanKoil Street: Rs 2,200 per sq.ft (2024)
• Kannadapalayam South St: Rs 3,300 per sq.ft (2024)
• Kannadapalayam Road: Rs 3,300 per sq.ft (2024)
• Kannadapalayam North St: Rs 3,300 per sq.ft (2024)
• Kannadapalayam Melandai St: Rs 3,300 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 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, totaling Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kannan Nagar?

Kannan Nagar is covered by the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. To find your SRO, click here.

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

The guideline value plays a crucial role in property transactions in Tambaram. When buying or selling property, the guideline value is used to determine the stamp duty and registration fees applicable to the transaction. This ensures that the fees are based on a standardized value set by the government.

During the registration process, the higher of the guideline value or the sale price is considered for calculating the stamp duty. This helps maintain transparency and consistency in property transactions within the region.

Frequently asked questions

What is the current guideline value of Kannan Nagar?

The current guideline value of Kannan Nagar is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 133 per sq.ft in 2002 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 1554% over this period.

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

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

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

The Tambaram Joint 1 Sub Registrar Office covers Kannan Nagar and is located at No.26, Mes Road, East Tambaram, Chennai-600059.

What is the range of guideline values in Tambaram village?

The guideline values in Tambaram village range from Rs 880 to Rs 8,250 per sq.ft, with a median value of Rs 3,300 per sq.ft.