Guideline Value for Kannappasamy Nagar Pradhana Salai

Kannappasamy Nagar Pradhana Salai guideline value

The current guideline value of Kannappasamy Nagar Pradhana Salai is Rs 1,100 per sq.ft, effective from 1 July 2024. This street is located in Puzhal village under the Redhills SRO, classified as Residential Class II Type - I.

How the guideline value of Kannappasamy Nagar Pradhana Salai has changed

The guideline value for Kannappasamy Nagar Pradhana Salai has undergone several revisions over the years. In 2007, the guideline value was Rs 300 per sq.ft, which increased to Rs 800 per sq.ft in 2012. However, there was a decrease in the value to Rs 536 per sq.ft in 2017. The value saw a significant increase to Rs 1,000 per sq.ft in 2023, and the most recent revision in 2024 has set the value at Rs 1,100 per sq.ft.

Between these revisions, the changes were notable. From 2007 to 2012, the value increased by 167%. The value then decreased by 33% from 2012 to 2017. However, from 2017 to 2023, there was a substantial increase of 87%. The latest revision from 2023 to 2024 reflects a 10% increase. Overall, from 2007 to 2024, the guideline value has risen 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. The median guideline value for these streets is Rs 1,102 per sq.ft, making the current value for Kannappasamy Nagar Pradhana Salai slightly below this median.

• Kannappasamy Nagar 9th Street: Rs 1,100 per sq.ft (2024)
• Kannappasamy Nagar 8th Street: Rs 1,100 per sq.ft (2024)
• Kannappasamy Nagar 7th Street: Rs 1,100 per sq.ft (2024)
• Kannappasamy Nagar 6th Street: Rs 1,100 per sq.ft (2024)
• Kannappasamy Nagar 5th Street: Rs 1,100 per sq.ft (2024)
• Kannappasamy Nagar 4th Street: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Kannappasamy Nagar Pradhana Salai

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 cost for these fees 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 information on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kannappasamy Nagar Pradhana Salai?

The Sub Registrar Office that covers Kannappasamy Nagar Pradhana Salai 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 assistance.

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

The guideline value is a crucial factor when registering a property in Puzhal. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations during property transactions.

When a property is sold, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that the transaction is recorded accurately and that the appropriate taxes are collected by the government.

Frequently asked questions

What is the current guideline value for Kannappasamy Nagar Pradhana Salai?

The current guideline value for Kannappasamy Nagar Pradhana Salai 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 an overall increase of 267% over the years.

What are the stamp duty rates applicable in Kannappasamy Nagar Pradhana Salai?

The stamp duty rate is currently set at 7% of the guideline value, while the registration fee is 2%. These fees are calculated based on the higher of the guideline value or the sale price.

Where can I find the Sub Registrar Office for Kannappasamy Nagar Pradhana Salai?

The Sub Registrar Office for Kannappasamy Nagar Pradhana Salai is located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

What is the land classification for Kannappasamy Nagar Pradhana Salai?

Kannappasamy Nagar Pradhana Salai is classified as Residential Class II Type - I under the guideline value register.