Guideline Value for Kannan Street / Veeraswamy Nagar

Kannan Street / Veeraswamy Nagar guideline value

The current guideline value of Kannan Street / Veeraswamy Nagar is Rs 1,980 per sq.ft, effective from 1 July 2024. This street is located in Pammal village, under the Pammal SRO, and is classified as Residential Class II Type - II.

How the guideline value of Kannan Street / Veeraswamy Nagar has changed

The guideline value for Kannan Street / Veeraswamy Nagar has seen significant changes over the years. In the 2002 revision, the value was set at Rs 184 per sq.ft. This increased to Rs 208 per sq.ft in 2003, marking a 13% rise. The value then rose to Rs 360 per sq.ft in 2007, a substantial increase of 73%. Following that, the 2017 revision saw the guideline value jump to Rs 1,206 per sq.ft, reflecting a remarkable 235% increase. The 2023 revision set the value at Rs 1,800 per sq.ft, which was a 49% increase from 2017. Finally, the current 2024 revision has established the guideline value at Rs 1,980 per sq.ft, a 10% rise from the previous year.

It is important to note that there is no figure available for Kannan Street / Veeraswamy Nagar in the 2012 revision. Overall, from 2002 to 2024, the guideline value has increased by 976%.

Guideline values in Pammal

Pammal village has a total of 926 streets under the Pammal SRO, with guideline values ranging from Rs 880 to Rs 3,300 per sq.ft as per the 2024 revision. The median guideline value for these streets is Rs 2,090 per sq.ft, placing Kannan Street / Veeraswamy Nagar below this median.

• Kannan Street /Muthamzhi Nagar: Rs 2,475 per sq.ft (2024)
• Kannaiyeram Street /Nagalkeni: Rs 1,980 per sq.ft (2024)
• Kannairam Street, Sivasankaran Nagar: Rs 1,980 per sq.ft (2024)
• Kannageyi Street /V.O.C.Nagar: Rs 2,750 per sq.ft (2024)
• Kannageyi Street /Shivashankaran Nagar: Rs 1,980 per sq.ft (2024)
• Kannageyi Street /Ponni Nagar: Rs 1,980 per sq.ft (2024)

Stamp duty and registration fee for property in Kannan Street / Veeraswamy Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,980 per sq.ft, the total guideline value would be Rs 19,80,000. The stamp duty at 7% would amount to Rs 1,38,600, and the registration fee at 2% would be Rs 39,600, bringing the total to Rs 1,78,200. 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 Street / Veeraswamy Nagar?

The Kannan Street / Veeraswamy Nagar area falls under the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Pammal. It serves as a benchmark for determining the minimum price at which a property can be registered, ensuring transparency and standardization in property dealings.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory costs that must be paid during the registration process. This helps in maintaining a fair and regulated real estate market.

Frequently asked questions

What is the current guideline value of Kannan Street / Veeraswamy Nagar?

The current guideline value of Kannan Street / Veeraswamy Nagar is Rs 1,980 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed significantly, increasing from Rs 184 per sq.ft in 2002 to Rs 1,980 per sq.ft in 2024, which is an overall increase of 976%.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 19,80,000, the stamp duty would be Rs 1,38,600 and the registration fee would be Rs 39,600, totaling Rs 1,78,200.

Which office handles property registrations for Kannan Street / Veeraswamy Nagar?

The Pammal Sub Registrar Office handles property registrations for Kannan Street / Veeraswamy Nagar, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

How is the guideline value determined for properties in Pammal?

The guideline value is determined by the Registration Department's guideline value register and is revised periodically to reflect the changes in property values in the area.