Guideline Value for Kannappar Nagar

Kannappar Nagar guideline value

The current guideline value of Kannappar Nagar in Periyapalayam village, under the Arani_Tiruvallur SRO, is Rs 160 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class IV Type - I land classification.

How the guideline value of Kannappar Nagar has changed

Over the years, the guideline value of Kannappar Nagar has seen several revisions. The 2007 revision set the value at Rs 100 per sq.ft, which increased to Rs 160 per sq.ft in both the 2012 and 2023 revisions. The 2017 revision marked a significant increase of 50% from the previous figure, bringing it to Rs 160 per sq.ft. The register has no figure for the years 2002 and 2003 for this street.

From 2007 to 2012, there was a 60% increase, followed by a decrease of 33% from 2012 to 2017. The guideline value remained unchanged from 2017 to 2024, resulting in an overall increase of 60% from the 2007 value to the current value in 2024.

Guideline values in Periyapalayam

In Periyapalayam, there are 31 streets under the Arani_Tiruvallur SRO that carry a 2024 guideline value ranging from Rs 160 to Rs 600 per sq.ft, with a median of Rs 200 per sq.ft. Kannappar Nagar's 2024 figure is below this median.

• Kannappar Street: Rs 600 per sq.ft (2024)
• Kavarai Street: Rs 600 per sq.ft (2024)
• Kalaignar Nagar: Rs 300 per sq.ft (2024)
• Kakkanji Nagar: Rs 160 per sq.ft (2024)
• J.H. Nagar Annex: Rs 600 per sq.ft (2024)
• Lakshmi Amman Nagar: Rs 250 per sq.ft (2024)

Stamp duty and registration fee for property in Kannappar Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 160 per sq.ft, the total guideline value amounts to Rs 1,60,000. The stamp duty at 7% would be Rs 11,200, and the registration fee at 2% would be Rs 3,200, totaling Rs 14,400. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kannappar Nagar?

The Sub Registrar Office that covers Kannappar Nagar is the Arani_Tiruvallur Sub Registrar Office, located at No.10, S.p Kovil Street, Arani, Ponneri (tk), Thiruvallur (dt) - 601 101, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration process of property transactions in Periyapalayam. 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 used to determine the official value of the property for taxation purposes. Buyers should be aware that the stamp duty is charged on the higher of the guideline value or the sale price, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Kannappar Nagar?

The current guideline value of Kannappar Nagar is Rs 160 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen changes from Rs 100 per sq.ft in 2007 to Rs 160 per sq.ft in 2012, 2017, and 2023. The latest revision in 2024 maintains this value.

What is the median guideline value in Periyapalayam?

The median guideline value in Periyapalayam is Rs 200 per sq.ft, while Kannappar Nagar's value is below this median at Rs 160 per sq.ft.

What fees are associated with buying property in Kannappar Nagar?

When buying property in Kannappar Nagar, buyers must pay stamp duty at 7% and a registration fee at 2% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Kannappar Nagar?

The Sub Registrar Office for Kannappar Nagar is located at No.10, S.p Kovil Street, Arani, Ponneri (tk), Thiruvallur (dt) - 601 101, Chennai registration zone.