Guideline Value for Kannanoorambakkam 3rd Cross Street

Kannanoorambakkam 3rd Cross Street guideline value

The current guideline value of Kannanoorambakkam 3rd 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 3rd Cross Street has changed

The guideline value for Kannanoorambakkam 3rd Cross Street has seen several revisions over the years. The earliest recorded figure is from 2007, where the value was Rs 400 per sq.ft. This increased to Rs 700 per sq.ft in 2012, marking a 75% rise. However, it then dropped to Rs 469 per sq.ft in 2017, reflecting a decrease of 33%. The value saw a significant increase to Rs 700 per sq.ft in 2023, followed by a further rise to Rs 770 per sq.ft in 2024, which is a 10% increase from the previous year.

There are no recorded 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

In Nallur, there are 39 streets under the Redhills SRO that carry a 2024 guideline value ranging from Rs 440 to Rs 1,650 per sq.ft, with a median value of Rs 550 per sq.ft. The guideline value for Kannanoorambakkam 3rd Cross Street is above this median.

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

For a 1,000 sq.ft plot at the current rate of Rs 770 per sq.ft, the guideline value would be Rs 7,70,000. The stamp duty at 7% would amount to Rs 53,900, and the registration fee at 2% would be Rs 15,400, together totaling Rs 69,300. Please note that the 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 3rd Cross Street?

The Sub Registrar Office that covers Kannanoorambakkam 3rd 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

The guideline value is an essential factor during property registration in Nallur. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these costs are based on a standardized value rather than the sale price alone.

When buying or selling property, it is crucial to be aware of the current guideline value to accurately estimate the total costs involved in the transaction. This helps in planning the financial aspects of the property deal effectively.

Frequently asked questions

What is the current guideline value of Kannanoorambakkam 3rd Cross Street?

The current guideline value of Kannanoorambakkam 3rd 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, with various increments and decrements in between, including a significant increase of 93% overall.

What is the median guideline value for streets in Nallur?

The median guideline value for streets in Nallur is Rs 550 per sq.ft, with Kannanoorambakkam 3rd Cross Street's value being above this median.

What fees are associated with purchasing property in Kannanoorambakkam 3rd Cross Street?

The fees associated with purchasing property include stamp duty at 7% of the guideline value and a registration fee at 2%. For example, on a 1,000 sq.ft plot, the total fees would amount to Rs 69,300.

Where is the Sub Registrar Office for Kannanoorambakkam 3rd Cross Street located?

The Sub Registrar Office for Kannanoorambakkam 3rd Cross Street is located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.