Guideline Value for Kannappasamy Nagar 2nd Street

Kannappasamy Nagar 2nd Street guideline value

The current guideline value of Kannappasamy Nagar 2nd 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 falls under the Residential Class II Type - I land classification.

How the guideline value of Kannappasamy Nagar 2nd Street has changed

Over the years, the guideline value for Kannappasamy Nagar 2nd Street has undergone several revisions. The earliest recorded figure is from 2007, where the guideline value was Rs 300 per sq.ft. This increased significantly to Rs 800 per sq.ft in 2012, but then saw a decrease to Rs 536 per sq.ft in 2017. Following this, the value rose sharply to Rs 1,000 per sq.ft in 2023, and finally reached Rs 1,100 per sq.ft in the 2024 revision. Notably, the register has no figures for the years 2002 and 2003 for this street.

In terms of percentage changes, the guideline value increased by 167% from 2007 to 2012, decreased by 33% from 2012 to 2017, and then surged by 87% from 2017 to 2023. The most recent change from 2023 to 2024 reflects a 10% increase. 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 with a 2024 guideline value 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 Kannappasamy Nagar 2nd Street's 2024 figure below that median.

• Kannappasamy Nagar 28th Street: Rs 1,100 per sq.ft (2024)
• Kannappasamy Nagar 3rd Street: Rs 1,100 per sq.ft (2024)
• Kannappasamy Nagar 27th Street: Rs 1,100 per sq.ft (2024)
• Kannappasamy Nagar 4th Street: Rs 1,100 per sq.ft (2024)
• Kannappasamy Nagar 25th Street: Rs 1,100 per sq.ft (2024)
• Kannappasamy Nagar 5th Street: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Kannappasamy Nagar 2nd 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, calculated at 7%, would be Rs 77,000, while the registration fee at 2% would be Rs 22,000, bringing the total 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 2nd Street?

The Sub Registrar Office covering Kannappasamy Nagar 2nd Street is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. To find your specific SRO, visit find your SRO.

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

When buying or selling property in Puzhal, the guideline value plays a crucial role during the registration process. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid, ensuring that the transaction is recorded at a fair value as per the government regulations.

The guideline value is essential for both buyers and sellers, as it helps in understanding the official valuation of the property. This valuation is used to calculate the applicable fees, which are mandatory for property transactions in the area.

Frequently asked questions

What is the current guideline value of Kannappasamy Nagar 2nd Street?

The current guideline value of Kannappasamy Nagar 2nd 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 seen several revisions, starting from Rs 300 per sq.ft in 2007 to Rs 1,100 per sq.ft in 2024, with various increases and a decrease in between.

What is the median guideline value for streets in Puzhal?

The median guideline value for streets in Puzhal is Rs 1,102 per sq.ft, which is slightly above the current value of Kannappasamy Nagar 2nd Street.

What are the stamp duty and registration fees for property transactions?

The stamp duty is charged at 7% of the guideline value, while the registration fee is 2%. Together, these fees are calculated based on the higher of the guideline value or the sale price.

Which office handles registrations for Kannappasamy Nagar 2nd Street?

The Redhills Sub Registrar Office handles registrations for Kannappasamy Nagar 2nd Street, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.