Guideline Value for Kannanoorambakkam 1st Cross Street

Kannanoorambakkam 1st Cross Street guideline value

The current guideline value of Kannanoorambakkam 1st Cross Street is Rs 700 per sq.ft. This street is located in Nallur_2 village and falls under the Redhills SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Kannanoorambakkam 1st Cross Street has changed

In the 2017 revision, the guideline value was Rs 469 per sq.ft. This figure increased to Rs 700 per sq.ft in the 2023 revision, marking a change of +49% over the six-year period. The register has no figures for the years 2024, 2012, 2007, 2003, and 2002 for this street.

The significant increase from 2017 to 2023 reflects changes in the guideline value, with the current rate being the highest recorded for this street. The absence of figures for earlier revisions indicates that the value has not been established for those years.

Guideline values in Nallur_2

Currently, there are no specific guideline values provided for other streets in Nallur_2. Therefore, Kannanoorambakkam 1st Cross Street stands alone in terms of its guideline value.

Stamp duty and registration fee for property in Kannanoorambakkam 1st Cross Street

For a 1,000 sq.ft plot at the current rate, the guideline value amounts to Rs 7,00,000. The stamp duty at 7% would be Rs 49,000, and the registration fee at 2% would be Rs 14,000, making the total cost Rs 63,000. 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 Kannanoorambakkam 1st Cross Street?

The Sub Registrar Office that covers Kannanoorambakkam 1st Cross Street is the Redhills Sub Registrar Office. The address is Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Nallur_2

The guideline value is a crucial factor during the registration of property transactions in Nallur_2. It serves as a benchmark for determining the stamp duty and registration fees applicable to the sale or purchase of property.

When a property is registered, the higher value between the guideline value and the actual sale price is used to calculate the applicable duties and fees. This ensures that the government receives the correct revenue based on the value of the property being transferred.

Frequently asked questions

What is the current guideline value of Kannanoorambakkam 1st Cross Street?

The current guideline value of Kannanoorambakkam 1st Cross Street is Rs 700 per sq.ft, as per the 2023 revision.

How much has the guideline value changed since 2017?

Since the 2017 revision, the guideline value has increased from Rs 469 per sq.ft to Rs 700 per sq.ft, marking a change of +49% over six years.

Are there any guideline values for other streets in Nallur_2?

Currently, there are no specific guideline values provided for other streets in Nallur_2. Kannanoorambakkam 1st Cross Street is the only street with a listed guideline value.

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

The stamp duty is charged at 7% of the guideline value, and the registration fee is charged at 2%. For a plot of 1,000 sq.ft, the total cost would be Rs 63,000, which includes both the stamp duty and registration fee.

Where is the Sub Registrar Office for Kannanoorambakkam 1st Cross Street located?

The Sub Registrar Office for Kannanoorambakkam 1st Cross Street is located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.