Guideline Value for Kannappasamy Nagar 25th Street

Kannappasamy Nagar 25th Street guideline value

The current guideline value of Kannappasamy Nagar 25th 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 25th Street has changed

The guideline value for Kannappasamy Nagar 25th Street has seen several revisions over the years. In the 2007 revision, the value was Rs 300 per sq.ft, which increased to Rs 800 per sq.ft in 2012. However, it then decreased to Rs 536 per sq.ft in 2017. The 2023 revision saw a significant increase to Rs 1,000 per sq.ft, and the most recent revision in 2024 has set the value at Rs 1,100 per sq.ft, marking a 10% increase from the previous year.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 267%. The register does not have figures for the years 2002 and 2003 for this street.

Guideline values in Puzhal

In Puzhal village, 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 guideline value in this area is Rs 1,102 per sq.ft, indicating that Kannappasamy Nagar 25th Street's 2024 figure is slightly below that median.

• Kannappasamy Nagar 24th Street: Rs 1,100 per sq.ft (2024)
• Kannappasamy Nagar 27th Street: Rs 1,100 per sq.ft (2024)
• Kannappasamy Nagar 23rd Street: Rs 1,100 per sq.ft (2024)
• Kannappasamy Nagar 28th Street: Rs 1,100 per sq.ft (2024)
• Kannappasamy Nagar 22nd Street: Rs 1,100 per sq.ft (2024)
• Kannappasamy Nagar 2nd Street: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Kannappasamy Nagar 25th Street

For a 1,000 sq.ft plot at the current rate of Rs 1,100 per sq.ft, the 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, resulting in a total of 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 information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kannappasamy Nagar 25th Street?

The Sub Registrar Office that covers Kannappasamy Nagar 25th 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 details.

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

The guideline value is a crucial factor during the registration of property transactions in Puzhal. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid, ensuring that the transaction is documented accurately.

When buying or selling property, the guideline value is used to calculate the applicable fees, which are based on the higher of the guideline value or the sale price. This ensures that all transactions are transparent and adhere to the regulations set by the Registration Department.

Frequently asked questions

What is the current guideline value of Kannappasamy Nagar 25th Street?

The current guideline value of Kannappasamy Nagar 25th Street is Rs 1,100 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed significantly, increasing from Rs 300 per sq.ft in 2007 to Rs 1,100 per sq.ft in 2024, which is an overall increase of 267%.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 11,00,000, the stamp duty would be Rs 77,000 and the registration fee would be Rs 22,000, totaling Rs 99,000.

Which Sub Registrar Office covers Kannappasamy Nagar 25th Street?

The Redhills Sub Registrar Office covers Kannappasamy Nagar 25th Street, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

How is the guideline value determined for properties in Puzhal?

The guideline value is determined based on various factors and is revised periodically by the Registration Department. It is used as a basis for calculating stamp duty and registration fees when buying or selling property.