Guideline Value for Kannappa Nagar

Kannappa Nagar guideline value

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

How the guideline value of Kannappa Nagar has changed

The guideline value for Kannappa Nagar has seen several revisions over the years. Starting from Rs 129 per sq.ft in 2002, it increased to Rs 142 per sq.ft in 2003, marking a 10% rise. The value then jumped significantly to Rs 400 per sq.ft in 2007, which was a 182% increase. Following this, it rose to Rs 2,000 per sq.ft in 2012, reflecting a 400% increase from the previous figure. However, the value decreased to Rs 1,340 per sq.ft in 2017, a decline of 33%. The guideline value then increased to Rs 2,000 per sq.ft in 2023, followed by a final increase to Rs 2,200 per sq.ft in 2024, which is a 10% rise.

Overall, from 2002 to 2024, the guideline value has increased by 1,605%. There are no figures available for the revisions in years not listed in the register for this street.

Guideline values in Maduravoyal

In Maduravoyal, there are 636 streets under the Virugambakkam SRO that have a 2024 guideline value ranging from Rs 2,200 to Rs 6,050 per sq.ft, with a median value of Rs 3,050 per sq.ft. The guideline value for Kannappa Nagar is below this median.

• Kannan Nagar (Vadaveni Amman Nagar) Main Road: Rs 2,200 per sq.ft (2024)
• Kannan Nagar 5th Street: Rs 2,200 per sq.ft (2024)
• Kannan Nagar 4th Street: Rs 2,200 per sq.ft (2024)
• Kannan Nagar 3rd Street: Rs 2,200 per sq.ft (2024)
• Kannan Nagar 2nd Street: Rs 2,200 per sq.ft (2024)
• Kannan Nagar 1st Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Kannappa Nagar

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 be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total fees 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.

You can also use the stamp duty and registration fee calculator for more precise calculations.

Which Sub Registrar Office covers Kannappa Nagar?

The Sub Registrar Office that covers Kannappa Nagar is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more information.

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

The guideline value is a crucial factor during property registration in Maduravoyal. It serves as the basis for calculating the stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property transactions.

When buying or selling property, it is essential to be aware of the current guideline value, as it can affect the overall cost of the transaction. Buyers should ensure that the sale price is at least equal to or greater than the guideline value to avoid any issues during registration.

Frequently asked questions

What is the current guideline value of Kannappa Nagar?

The current guideline value of Kannappa Nagar 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 129 per sq.ft in 2002 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 1,605% over the years.

What are the stamp duty and registration fees for property in Kannappa Nagar?

For a 1,000 sq.ft plot, the total guideline value would be Rs 22,00,000, with a stamp duty of Rs 1,54,000 and a registration fee of Rs 44,000, totaling Rs 1,98,000.

Which Sub Registrar Office covers Kannappa Nagar?

The Virugambakkam Sub Registrar Office covers Kannappa Nagar, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

What is the land classification for Kannappa Nagar?

The land classification for Kannappa Nagar is Residential Class V Type - I.