Guideline Value for Kannappan Thidal

Kannappan Thidal guideline value

The current guideline value of Kannappan Thidal is Rs 6,000 per sq.ft, effective from 1 July 2024. This street is located in Vepery village, under the Periamet SRO, and is classified as Residential Class II Type - I.

How the guideline value of Kannappan Thidal has changed

The guideline value for Kannappan Thidal has undergone several revisions over the years. In the 2007 revision, the value was Rs 1,800 per sq.ft. This increased significantly to Rs 5,500 per sq.ft in 2012, but then saw a decrease to Rs 3,685 per sq.ft in 2017. Following this, the value rose sharply to Rs 5,500 per sq.ft in 2023, and most recently, it has been revised to Rs 6,000 per sq.ft in 2024.

Between these revisions, the changes were notable. From 2007 to 2012, there was an increase of 206%. However, from 2012 to 2017, the value decreased by 33%. The value then increased by 49% from 2017 to 2023, and finally, there was a 9% increase from 2023 to 2024. Overall, from 2007 to 2024, the guideline value has increased by 233%.

Guideline values in Vepery

In Vepery, there are 290 streets under the Periamet SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 22,000 per sq.ft, with a median value of Rs 4,800 per sq.ft. The guideline value for Kannappan Thidal is above this median.

• Kandappa street: Rs 6,000 per sq.ft (2024)
• Kandappa Mudali street: Rs 6,000 per sq.ft (2024)
• Kandappa Lane: Rs 4,800 per sq.ft (2024)
• Karinmedu Gandhi Nagar (Grey Nagar Pallam): Rs 2,700 per sq.ft (2024)
• Karpaga Mudali Street: Rs 6,000 per sq.ft (2024)
• Kanagarajan Mudaliar Thottam: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Kannappan Thidal

For a 1,000 sq.ft plot at the current guideline value of Rs 6,000 per sq.ft, the total guideline value would be Rs 60,00,000. The stamp duty at 7% would amount to Rs 4,20,000, and the registration fee at 2% would be Rs 1,20,000, making the total cost for these fees Rs 5,40,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can also use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kannappan Thidal?

The Sub Registrar Office that covers Kannappan Thidal is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions, as it determines the base value on which stamp duty and registration fees are calculated. When buying or selling property in Vepery, it is essential to refer to the current guideline value to ensure compliance with legal and financial obligations.

During the registration process, the guideline value serves as a benchmark to assess the appropriate fees. Buyers should be aware that the higher of the guideline value and the sale price will be used for calculating these charges, which can significantly impact the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Kannappan Thidal?

The current guideline value of Kannappan Thidal is Rs 6,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,800 per sq.ft in 2007 to Rs 6,000 per sq.ft in 2024, marking an overall increase of 233% over the years.

What is the land classification of Kannappan Thidal?

Kannappan Thidal is classified as Residential Class II Type - I.

What are the stamp duty and registration fees for properties in Kannappan Thidal?

The stamp duty is charged at 7%, and the registration fee is 2% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Kannappan Thidal located?

The Periamet Sub Registrar Office is located at 1103, Poonamallee High Road, Chennai-600 003.