Guideline Value for Kannappasamy Nagar 21st Street

Kannappasamy Nagar 21st Street guideline value

The current guideline value of Kannappasamy Nagar 21st Street is Rs 1,100 per sq.ft, effective from 1 July 2024. This street is located in Puzhal village under the Redhills SRO and is classified as Residential Class II Type - I.

How the guideline value of Kannappasamy Nagar 21st Street has changed

The guideline value for Kannappasamy Nagar 21st Street has undergone several revisions over the years. The earliest available figure is from 2007, where it was set at Rs 300 per sq.ft. This value increased significantly to Rs 800 per sq.ft in 2012, marking a 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, which was an increase of 87%. The most recent revision in 2024 raised the guideline value to Rs 1,100 per sq.ft, a 10% increase from the previous year.

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

Guideline values in Puzhal

In Puzhal, there are 270 streets under the Redhills SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 6,000 per sq.ft. The median value for these streets is Rs 1,102 per sq.ft, indicating that the guideline value for Kannappasamy Nagar 21st Street is slightly below this median.

• Kannappasamy Nagar 20th Street: Rs 1,100 per sq.ft (2024)
• Kannappasamy Nagar 22nd Street: Rs 1,100 per sq.ft (2024)
• Kannappasamy Nagar 1st Street: Rs 1,100 per sq.ft (2024)
• Kannappasamy Nagar 23rd Street: Rs 1,100 per sq.ft (2024)
• Kannappasamy Nagar 19th Street: Rs 1,100 per sq.ft (2024)
• Kannappasamy Nagar 24th Street: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Kannappasamy Nagar 21st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value would be Rs 11,00,000. The stamp duty at 7% would amount to Rs 77,000, and the registration fee at 2% would be Rs 22,000, making the total fees together Rs 99,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Kannappasamy Nagar 21st Street?

The Sub Registrar Office that covers Kannappasamy Nagar 21st 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 an essential factor when registering property transactions in Puzhal. It serves as a benchmark for determining the stamp duty and registration fees that must be paid at the time of registration.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair value, which helps in maintaining transparency in property dealings. Buyers and sellers should be aware of the current guideline value to avoid any discrepancies during registration.

Frequently asked questions

What is the current guideline value of Kannappasamy Nagar 21st Street?

The current guideline value of Kannappasamy Nagar 21st 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 changed from Rs 300 per sq.ft in 2007 to Rs 1,100 per sq.ft in 2024, reflecting an overall increase of 267% over the years.

What is the land classification of Kannappasamy Nagar 21st Street?

Kannappasamy Nagar 21st Street is classified as Residential Class II Type - I.

Where can I find the registration office for Kannappasamy Nagar 21st Street?

The registration office for Kannappasamy Nagar 21st Street is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

How is the stamp duty calculated for property transactions?

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