Guideline Value for Kannanoorambakkam 2nd Cross Street

Kannanoorambakkam 2nd Cross Street guideline value

The current guideline value of Kannanoorambakkam 2nd Cross Street is Rs 770 per sq.ft, effective from 1 July 2024. This street is located in Nallur 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 2nd Cross Street has changed

The guideline value for Kannanoorambakkam 2nd Cross Street has undergone several revisions over the years. In 2007, the guideline value was Rs 400 per sq.ft, which increased to Rs 700 per sq.ft in 2012, marking a 75% rise. However, it saw a significant drop to Rs 469 per sq.ft in 2017, reflecting a decrease of 33%. The value then rose to Rs 700 per sq.ft in 2023, a 49% increase, and has now reached Rs 770 per sq.ft in the 2024 revision, a 10% increase from the previous year.

It is important to note that the register has no figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 93%.

Guideline values in Nallur

Nallur village has 39 streets under the Redhills SRO that carry a 2024 guideline value, ranging from Rs 440 to Rs 1,650 per sq.ft. The median guideline value in this area is Rs 550 per sq.ft, placing Kannanoorambakkam 2nd Cross Street above that median.

• Kannanoorambakkam 1st Cross Street: Rs 770 per sq.ft (2024)
• Kannanoorambakkam 3rd Cross Street: Rs 770 per sq.ft (2024)
• Kannanoorammal Koil 1st Street: Rs 770 per sq.ft (2024)
• Kannanoorammal Koil 2nd Street: Rs 770 per sq.ft (2024)
• kannanoorammal Koil Street: Rs 770 per sq.ft (2024)
• Kalpaga Nagar - 1: Rs 770 per sq.ft (2024)

Stamp duty and registration fee for property in Kannanoorambakkam 2nd Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 770 per sq.ft, the total guideline value would be Rs 7,70,000. The stamp duty at 7% would amount to Rs 53,900, while the registration fee at 2% would be Rs 15,400. Therefore, the total cost for stamp duty and registration would be Rs 69,300. It is important to note that duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kannanoorambakkam 2nd Cross Street?

The Sub Registrar Office that covers Kannanoorambakkam 2nd Cross Street is the Redhills Sub Registrar Office, located at 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

The guideline value plays a crucial role when buying or selling property in Nallur. It is used to determine the stamp duty and registration fees that need to be paid during the transaction. The guideline value is set by the registration department and is periodically revised to reflect changes in the locality.

When a property is registered, the stamp duty is calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Kannanoorambakkam 2nd Cross Street?

The current guideline value of Kannanoorambakkam 2nd Cross Street is Rs 770 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 400 per sq.ft in 2007 to Rs 770 per sq.ft in 2024, reflecting an overall increase of 93% over the years.

What are the other streets in Nallur with the same guideline value?

Other streets in Nallur with the same guideline value of Rs 770 per sq.ft include Kannanoorambakkam 1st Cross Street, Kannanoorambakkam 3rd Cross Street, Kannanoorammal Koil 1st Street, Kannanoorammal Koil 2nd Street, kannanoorammal Koil Street, and Kalpaga Nagar - 1.

How is the stamp duty calculated for properties in this area?

The stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 7,70,000, the stamp duty would be Rs 53,900.

Where can I find the Sub Registrar Office for Kannanoorambakkam 2nd Cross Street?

The Sub Registrar Office for Kannanoorambakkam 2nd Cross Street is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.