Guideline Value for Kannappasamy Nagar 24th Street

Kannappasamy Nagar 24th Street guideline value

The current guideline value for Kannappasamy Nagar 24th 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 24th Street has changed

The guideline value for Kannappasamy Nagar 24th Street has seen several revisions over the years. The earliest recorded value was Rs 300 per sq.ft in 2007. This increased significantly to Rs 800 per sq.ft in 2012, followed by a decrease to Rs 536 per sq.ft in 2017. The value then rose to Rs 1,000 per sq.ft in 2023, and the most recent revision in 2024 set the value at Rs 1,100 per sq.ft.

From 2017 to 2023, there was an increase of 87%, while the value decreased by 33% from 2012 to 2017. The increase from 2007 to 2012 was notable at 167%. Overall, from 2007 to 2024, the guideline value has increased by 267%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Puzhal

In Puzhal, there are a total of 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, making the 2024 guideline value for Kannappasamy Nagar 24th Street slightly below the median.

• Kannappasamy Nagar 23rd Street: Rs 1,100 per sq.ft (2024)
• Kannappasamy Nagar 25th Street: Rs 1,100 per sq.ft (2024)
• Kannappasamy Nagar 22nd Street: Rs 1,100 per sq.ft (2024)
• Kannappasamy Nagar 27th Street: Rs 1,100 per sq.ft (2024)
• Kannappasamy Nagar 21st Street: Rs 1,100 per sq.ft (2024)
• Kannappasamy Nagar 28th Street: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Kannappasamy Nagar 24th 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, while the registration fee at 2% would be Rs 22,000, bringing the total cost to Rs 99,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kannappasamy Nagar 24th Street?

The Sub Registrar Office that covers Kannappasamy Nagar 24th 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 crucial factor when registering property transactions in Puzhal. It serves as a benchmark to determine the stamp duty and registration fees that need to be paid during the sale or purchase of property.

When a buyer or seller engages in a transaction, the registration office refers to the guideline value to ensure that the appropriate fees are collected based on the property's assessed value. This process helps maintain transparency and standardization in property dealings.

Frequently asked questions

What is the current guideline value for Kannappasamy Nagar 24th Street?

The current guideline value for Kannappasamy Nagar 24th 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, marking an overall increase of 267% over this period.

What is the median guideline value for streets in Puzhal?

The median guideline value for the 270 streets in Puzhal under the Redhills SRO is Rs 1,102 per sq.ft, which is slightly above the current value for Kannappasamy Nagar 24th Street.

What are the stamp duty rates for properties in this area?

The stamp duty for properties in Kannappasamy Nagar 24th Street is charged at a rate of 7% on the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for this street?

The Sub Registrar Office covering Kannappasamy Nagar 24th Street is located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.