Guideline Value for Kannappasamy Nagar 17th Street

Kannappasamy Nagar 17th Street guideline value

The current guideline value of Kannappasamy Nagar 17th Street is Rs 1,100 per sq.ft, effective from 1 July 2024. This street is located in Puzhal village and falls under the Redhills SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Kannappasamy Nagar 17th Street has changed

The guideline value for Kannappasamy Nagar 17th Street has seen several revisions over the years. The earliest recorded revision was in 2007, with a guideline value of Rs 300 per sq.ft. This increased to Rs 800 per sq.ft in 2012, marking a significant rise of 167%. However, from 2012 to 2017, the value decreased to Rs 536 per sq.ft, a drop of 33%. The value then saw a substantial increase to Rs 1,000 per sq.ft in 2023, reflecting an 87% rise. The latest revision in 2024 set the value at Rs 1,100 per sq.ft, which is a 10% increase from the previous year.

It is important to note that there are no figures available for the years 2002 and 2003 in the register for this street. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 267%.

Guideline values in Puzhal

Puzhal village has a total of 270 streets under the Redhills SRO, with guideline values ranging from Rs 1,100 to Rs 6,000 per sq.ft. The median guideline value for these streets is Rs 1,102 per sq.ft, placing the 2024 guideline value of Kannappasamy Nagar 17th Street below this median.

• Kannappasamy Nagar 16th Street: Rs 1,100 per sq.ft (2024)
• Kannappasamy Nagar 18th Street: Rs 1,100 per sq.ft (2024)
• Kannappasamy Nagar 15th Street: Rs 1,100 per sq.ft (2024)
• Kannappasamy Nagar 19th Street: Rs 1,100 per sq.ft (2024)
• Kannappasamy Nagar 14th Street: Rs 1,100 per sq.ft (2024)
• Kannappasamy Nagar 1st Street: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Kannappasamy Nagar 17th Street

For a 1,000 sq.ft plot at the current rate of Rs 1,100 per sq.ft, the guideline value amounts to Rs 11,00,000. The stamp duty at 7% would be Rs 77,000, and the registration fee at 2% would be Rs 22,000, totaling Rs 99,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kannappasamy Nagar 17th Street?

The Sub Registrar Office that covers Kannappasamy Nagar 17th Street is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value is a critical factor when registering property transactions in Puzhal. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction process. Buyers and sellers must take the guideline value into account to ensure compliance with local regulations.

When a property is sold, the guideline value is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue from property transactions. It is essential for both parties to be aware of the guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Kannappasamy Nagar 17th Street?

The current guideline value of Kannappasamy Nagar 17th Street is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 300 per sq.ft in 2007 to Rs 1,100 per sq.ft in 2024, reflecting a total increase of 267% over the years.

What is the land classification for Kannappasamy Nagar 17th Street?

The land classification for Kannappasamy Nagar 17th Street is Residential Class II Type - I.

Where can I find the Redhills Sub Registrar Office?

The Redhills Sub Registrar Office is located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

How is the stamp duty calculated for properties in Puzhal?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 11,00,000 would incur a stamp duty of Rs 77,000 at the rate of 7%.