Guideline Value for Kannappasamy Nagar 27th Street

Kannappasamy Nagar 27th Street guideline value

The current guideline value for Kannappasamy Nagar 27th 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 27th Street has changed

In the 2007 revision, the guideline value was Rs 300 per sq.ft. This increased significantly to Rs 800 per sq.ft in 2012, marking a rise of 167%. However, there was a decrease in the 2017 revision, where the value dropped to Rs 536 per sq.ft, a decline of 33%. From 2017 to 2023, the value saw a substantial increase to Rs 1,000 per sq.ft, reflecting an 87% rise. The latest revision in 2024 has set the guideline value at Rs 1,100 per sq.ft, which is a 10% increase from the previous year.

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

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 in this area is Rs 1,102 per sq.ft, placing the 2024 figure for Kannappasamy Nagar 27th Street below this median.

• Kannappasamy Nagar 25th Street: Rs 1,100 per sq.ft (2024)
• Kannappasamy Nagar 28th Street: Rs 1,100 per sq.ft (2024)
• Kannappasamy Nagar 24th Street: Rs 1,100 per sq.ft (2024)
• Kannappasamy Nagar 2nd Street: Rs 1,100 per sq.ft (2024)
• Kannappasamy Nagar 23rd Street: Rs 1,100 per sq.ft (2024)
• Kannappasamy Nagar 3rd Street: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Kannappasamy Nagar 27th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total 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, bringing the total fees to Rs 99,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Kannappasamy Nagar 27th Street?

The Sub Registrar Office that covers Kannappasamy Nagar 27th 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 during the registration of property transactions. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the state collects the appropriate stamp duty and registration fees.

When buying or selling property in Puzhal, it is essential to be aware of the guideline value as it affects the overall cost of the transaction. Buyers and sellers should ensure that the sale price meets or exceeds the guideline value to avoid any complications during registration.

Frequently asked questions

What is the current guideline value for Kannappasamy Nagar 27th Street?

The current guideline value for Kannappasamy Nagar 27th 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 seen various changes, 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 office handles the registration for this street?

The Redhills Sub Registrar Office handles the registration for Kannappasamy Nagar 27th Street, located on Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

What is the median guideline value in Puzhal?

The median guideline value in Puzhal is Rs 1,102 per sq.ft, with Kannappasamy Nagar 27th Street's 2024 figure being slightly below this median.