Guideline Value for Kannappanayakkar Street

Kannappanayakkar Street guideline value

The current guideline value of Kannappanayakkar Street in Nanmangalam village is Rs 2,750 per sq.ft, effective from 1 July 2024. This street falls under the Pallavaram SRO and is classified as Residential Class I Type - I.

How the guideline value of Kannappanayakkar Street has changed

The guideline value for Kannappanayakkar Street has undergone several revisions over the years. In 2002, the value was Rs 55 per sq.ft, which increased to Rs 77 per sq.ft in 2003. The value saw a significant rise to Rs 300 per sq.ft in 2007, followed by a further increase to Rs 2,500 per sq.ft in 2012. However, it decreased to Rs 1,675 per sq.ft in 2017. The value then rose sharply to Rs 2,500 per sq.ft in 2023 before reaching the current value of Rs 2,750 per sq.ft in 2024.

From 2017 to 2023, the increase was 49%. The jump from 2007 to 2012 was a remarkable 733%. Overall, from 2002 to 2024, the guideline value has increased by 4,900%. There are no figures available for the years not mentioned in this register for Kannappanayakkar Street.

Guideline values in Nanmangalam

Nanmangalam has 139 streets under the Pallavaram SRO, with guideline values for 2024 ranging from Rs 1,960 to Rs 3,850 per sq.ft. The median guideline value for these streets is Rs 2,750 per sq.ft, which is equal to the current value of Kannappanayakkar Street.

• Kannappan Street: Rs 2,750 per sq.ft (2024)
• Kannagi Street: Rs 1,960 per sq.ft (2024)
• Karunai Sekaran 1 To 3 Streets: Rs 1,980 per sq.ft (2024)
• Karunai Sekaran Nagar: Rs 1,980 per sq.ft (2024)
• Kambar Street: Rs 1,960 per sq.ft (2024)
• Kavingar Kannadasan Street: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Kannappanayakkar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value amounts to Rs 27,50,000. The stamp duty at 7% would be Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, bringing the total to Rs 2,47,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kannappanayakkar Street?

The Sub Registrar Office that covers Kannappanayakkar Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone.

You can find your SRO for more details.

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

The guideline value plays a crucial role during the registration of property transactions in Nanmangalam. It serves as a benchmark for calculating the stamp duty and registration fees that buyers must pay when purchasing property.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to determine the applicable duties. This ensures that the government receives the appropriate revenue from property transactions, reflecting the official valuation of the property.

Frequently asked questions

What is the current guideline value of Kannappanayakkar Street?

The current guideline value of Kannappanayakkar Street is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 55 per sq.ft in 2002 to Rs 2,750 per sq.ft in 2024, reflecting an overall increase of 4,900% over the years.

What is the median guideline value for streets in Nanmangalam?

The median guideline value for streets in Nanmangalam is Rs 2,750 per sq.ft, which is the same as the current value for Kannappanayakkar Street.

What are the stamp duty and registration fees for properties on this street?

For a property valued at Rs 27,50,000 on Kannappanayakkar Street, the stamp duty would be Rs 1,92,500 and the registration fee would be Rs 55,000, totaling Rs 2,47,500.

Where can I find the Sub Registrar Office for Kannappanayakkar Street?

The Sub Registrar Office for Kannappanayakkar Street is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone.