Guideline Value for Kannappa Nagar 1st Street

Kannappa Nagar 1st Street guideline value

The current guideline value of Kannappa Nagar 1st Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Kottivakkam village and falls under the Adayar SRO. The land classification for this area is Residential Class IV Type - II.

How the guideline value of Kannappa Nagar 1st Street has changed

The guideline value for Kannappa Nagar 1st Street has seen several revisions over the years. In 2003, the value was Rs 975 per sq.ft, which increased to Rs 1,250 per sq.ft in 2007. Following this, the value rose significantly to Rs 2,000 per sq.ft in 2012, before dropping to Rs 1,340 per sq.ft in 2017. The 2023 revision marked a substantial increase to Rs 2,000 per sq.ft, and the most recent revision in 2024 has raised it to Rs 2,200 per sq.ft. The register has no figure for this street in 2002.

From 2003 to 2024, the overall increase in the guideline value is 126%. The changes between the revisions include a 28% rise from 2003 to 2007, a 60% increase from 2007 to 2012, a 33% decrease from 2012 to 2017, and a 49% increase from 2017 to 2023. The jump from 2023 to 2024 represents a 10% increase.

Guideline values in Kottivakkam

In Kottivakkam, there are 284 streets under the Adayar SRO that carry a 2024 guideline value ranging from Rs 1,700 to Rs 8,500 per sq.ft, with a median value of Rs 3,900 per sq.ft. The guideline value for Kannappa Nagar 1st Street is below this median.

• Kannappa Nagar 2nd Street: Rs 2,200 per sq.ft (2024)
• Karpagambal Nagar Main Road: Rs 4,400 per sq.ft (2024)
• Karpakambal Nagar 2nd Street: Rs 4,400 per sq.ft (2024)
• Karpakambal Nagar 3rd Street: Rs 4,400 per sq.ft (2024)
• Karumari Amman Koil 1st Street: Rs 1,700 per sq.ft (2024)
• Karumari Amman Koil 2nd Street: Rs 1,700 per sq.ft (2024)

Stamp duty and registration fee for property in Kannappa Nagar 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total to Rs 1,98,000. Duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kannappa Nagar 1st Street?

The Sub Registrar Office that covers Kannappa Nagar 1st Street is the Adayar Sub Registrar Office, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Kottivakkam. It serves as a benchmark for determining the minimum value at which a property can be registered. This value is used to calculate the stamp duty and registration fees that are payable during the transaction.

When a property is sold, the sale price cannot be lower than the guideline value. This ensures that the government receives the appropriate revenue from property transactions. Buyers and sellers should be aware of the guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Kannappa Nagar 1st Street?

The current guideline value of Kannappa Nagar 1st Street 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 changed from Rs 975 per sq.ft in 2003 to Rs 2,200 per sq.ft in 2024, showing an overall increase of 126% over the years.

What is the median guideline value in Kottivakkam?

The median guideline value in Kottivakkam is Rs 3,900 per sq.ft, with Kannappa Nagar 1st Street's value being below this median.

What are the stamp duty rates for properties in Kannappa Nagar 1st Street?

The stamp duty for properties in Kannappa Nagar 1st Street is charged at 7% of the guideline value or sale price, whichever is higher.

Where is the Adayar Sub Registrar Office located?

The Adayar Sub Registrar Office is located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20, Chennai registration zone.