Guideline Value for Kannappasamy Nagar 3rd Street

Kannappasamy Nagar 3rd Street guideline value

The current guideline value of Kannappasamy Nagar 3rd 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 3rd Street has changed

The guideline value for Kannappasamy Nagar 3rd Street has seen several revisions over the years. In 2007, the value was Rs 300 per sq.ft, which increased to Rs 800 per sq.ft in 2012. However, there was a decrease to Rs 536 per sq.ft in 2017. The value then rose significantly to Rs 1,000 per sq.ft in 2023, and as of the 2024 revision, it stands at Rs 1,100 per sq.ft. The register has no figures for the years 2002 and 2003.

From 2017 to 2023, the value increased by 87%, and from 2023 to 2024, it rose by 10%. 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, with a median value of Rs 1,102 per sq.ft. The guideline value of Kannappasamy Nagar 3rd Street is below this median.

• Kannappasamy Nagar 2nd Street: Rs 1,100 per sq.ft (2024)
• Kannappasamy Nagar 4th Street: Rs 1,100 per sq.ft (2024)
• Kannappasamy Nagar 28th Street: Rs 1,100 per sq.ft (2024)
• Kannappasamy Nagar 5th Street: Rs 1,100 per sq.ft (2024)
• Kannappasamy Nagar 27th Street: Rs 1,100 per sq.ft (2024)
• Kannappasamy Nagar 6th Street: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Kannappasamy Nagar 3rd 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, bringing the total to Rs 99,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kannappasamy Nagar 3rd Street?

The Sub Registrar Office covering Kannappasamy Nagar 3rd 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 in the registration process when buying or selling property in Puzhal. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the buyer must pay the applicable stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Kannappasamy Nagar 3rd Street?

The current guideline value of Kannappasamy Nagar 3rd 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 a significant increase over the years.

What is the land classification for Kannappasamy Nagar 3rd Street?

Kannappasamy Nagar 3rd Street is classified as Residential Class II Type - I.

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

The Sub Registrar Office for Kannappasamy Nagar 3rd 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 properties in Puzhal?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, if the guideline value is Rs 11,00,000, the stamp duty would be calculated accordingly.