Guideline Value for Kannappa Nagar 2nd Street

Kannappa Nagar 2nd Street guideline value

The current guideline value of Kannappa Nagar 2nd Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Kottivakkam village under the Adayar SRO, classified as Residential Class IV Type - II.

How the guideline value of Kannappa Nagar 2nd Street has changed

Over the years, the guideline value of Kannappa Nagar 2nd Street has seen several revisions. In 2002, the value was Rs 510 per sq.ft, which increased to Rs 1,000 per sq.ft in 2003, marking a significant rise of 96%. The value continued to rise, reaching Rs 1,250 per sq.ft in 2007, a 25% increase from the previous revision. In 2012, the value was Rs 2,000 per sq.ft, reflecting a 60% increase from 2007. However, there was a decrease to Rs 1,340 per sq.ft in 2017, a drop of 33%. The most recent revisions show a guideline value of Rs 2,000 per sq.ft in 2023, followed by an increase to Rs 2,200 per sq.ft in 2024, which is a 10% rise.

From 2017 to 2023, there was a notable increase of 49%. Overall, from 2002 to 2024, the guideline value has increased by 331%. The register has no figure for the years not listed above.

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 of Kannappa Nagar 2nd Street is below this median.

• Kannappa Nagar 1st 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 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total to Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kannappa Nagar 2nd Street?

The Sub Registrar Office that covers Kannappa Nagar 2nd Street is the Adayar Sub Registrar Office, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20. You can find your SRO for more information.

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

When buying or selling property in Kottivakkam, the guideline value plays a crucial role during the registration process. The guideline value is used to determine the stamp duty and registration fees that need to be paid, ensuring that these fees are based on a standardized value set by the government.

It is essential for buyers and sellers to be aware of the current guideline value, as it affects the overall cost of the transaction. This value is regularly updated to reflect changes in the real estate market, and it ensures transparency in property transactions.

Frequently asked questions

What is the current guideline value of Kannappa Nagar 2nd Street?

The current guideline value of Kannappa Nagar 2nd 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 significantly from Rs 510 per sq.ft in 2002 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 331% over this period.

What is the stamp duty for properties in Kannappa Nagar 2nd Street?

The stamp duty for properties in Kannappa Nagar 2nd Street is 7% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Kannappa Nagar 2nd Street?

The Sub Registrar Office for Kannappa Nagar 2nd Street is the Adayar Sub Registrar Office, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20.

What are the guideline values of other streets in Kottivakkam?

Other streets in Kottivakkam have varying guideline values. For instance, Kannappa Nagar 1st Street has a guideline value of Rs 2,200 per sq.ft, while Karpagambal Nagar Main Road has a value of Rs 4,400 per sq.ft.