Guideline Value for Kannappan Nagar

Kannappan Nagar guideline value

The current guideline value of Kannappan Nagar, located in Madanandapuram village under the Kunrathur SRO, is Rs 3,520 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Special Type - II.

How the guideline value of Kannappan Nagar has changed

The guideline value for Kannappan Nagar has seen significant changes over the years. In the 2007 revision, the value was Rs 400 per sq.ft, which increased dramatically to Rs 3,200 per sq.ft in the 2012 revision, marking a substantial rise of 700%. However, it then decreased to Rs 2,144 per sq.ft in the 2017 revision, reflecting a decline of 33%. The value then rose again to Rs 3,200 per sq.ft in the 2023 revision, and most recently, it has increased to Rs 3,520 per sq.ft in the 2024 revision, which is a 10% increase from the previous year.

There are no figures available for the years 2002 and 2003 in the register for this street. Overall, from 2007 to 2024, the guideline value has increased by 780%.

Guideline values in Madanandapuram

Madanandapuram village has a total of 94 streets under the Kunrathur SRO that carry a 2024 guideline value ranging from Rs 2,530 to Rs 5,830 per sq.ft. The median value for these streets is Rs 3,520 per sq.ft, which is the same as the current guideline value for Kannappan Nagar.

• Karpagambal Nagar: Rs 3,520 per sq.ft (2024)
• Karpagambal Nagar Annuxe: Rs 3,520 per sq.ft (2024)
• Karumari Amman Nagar: Rs 3,520 per sq.ft (2024)
• Kamatchi Amman Nagar: Rs 3,520 per sq.ft (2024)
• Kalyani Avenue: Rs 3,190 per sq.ft (2024)
• Kalyan Avenue: Rs 3,190 per sq.ft (2024)

Stamp duty and registration fee for property in Kannappan Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 3,520 per sq.ft, the total guideline value amounts to Rs 35,20,000. The stamp duty at 7% would be Rs 2,46,400, and the registration fee at 2% would be Rs 70,400, bringing the total cost for these fees to Rs 3,16,800. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Kannappan Nagar?

The Sub Registrar Office that covers Kannappan Nagar is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. For more details, you can find your SRO.

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

The guideline value is a critical factor in the registration process when buying or selling property in Madanandapuram. It serves as a benchmark for determining the stamp duty and registration fees that must be paid, ensuring that the transaction is recorded at a fair value according to government regulations.

When a property is sold, the guideline value is used to calculate the applicable fees, which are based on the higher of the guideline value or the actual sale price. This ensures that the registration reflects the true value of the property being transferred.

Frequently asked questions

What is the current guideline value of Kannappan Nagar?

The current guideline value of Kannappan Nagar is Rs 3,520 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 400 per sq.ft in 2007 to Rs 3,520 per sq.ft in 2024, marking an overall increase of 780% over this period.

What is the land classification for Kannappan Nagar?

The land classification for Kannappan Nagar is Residential Special Type - II.

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

The stamp duty is 7% and the registration fee is 2% of the guideline value. For a 1,000 sq.ft plot, the total fees would amount to Rs 3,16,800.

Which office handles registrations for Kannappan Nagar?

The Kunrathur Sub Registrar Office handles registrations for Kannappan Nagar, located at No.59, Road Street, Kundrathur, Chennai -600 069.