Guideline Value for Kannapuram ( Ward No.18 )

Kannapuram ( Ward No.18 ) guideline value

The current guideline value for Kannapuram ( Ward No.18 ) is Rs 1,300 per sq.ft, effective from 1 July 2024. This area is part of Madhavaram village, under the Madhavaram SRO, and is classified as Residential Class III Type - I.

How the guideline value of Kannapuram ( Ward No.18 ) has changed

The guideline value for Kannapuram has seen several revisions over the years. The most recent revision in 2024 set the value at Rs 1,300 per sq.ft, up from Rs 1,200 per sq.ft in 2023, marking an increase of 8%. Prior to that, in 2017, the guideline value was Rs 804 per sq.ft, indicating a significant rise of 49% from 2017 to 2023, and an overall increase of 62% from 2017 to 2024.

It is important to note that there are no registered figures for this street in the years 2002, 2003, 2007, and 2012. Therefore, the only available figures are from the revisions in 2017, 2023, and 2024.

Guideline values in Madhavaram

In Madhavaram, there are 1,946 streets under the Madhavaram SRO, with guideline values ranging from Rs 1,300 to Rs 7,500 per sq.ft. The median guideline value in this area is Rs 1,600 per sq.ft, placing the 2024 figure for Kannapuram below this median.

• Kannapuram Nagar: Rs 1,300 per sq.ft (2024)
• Kanniammal Nagar: Rs 2,200 per sq.ft (2024)
• Kanniamman Koil Street: Rs 1,300 per sq.ft (2024)
• Kanniamman Koil st ( Ward No.26 ): Rs 1,300 per sq.ft (2024)
• Kanniga Garden (Ward-01): Rs 1,300 per sq.ft (2024)
• Kannan Nagar (Ward-19): Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Kannapuram ( Ward No.18 )

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value would be Rs 13,00,000. The stamp duty at 7% would amount to Rs 91,000, and the registration fee at 2% would be Rs 26,000, totaling Rs 1,17,000. 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 precise calculations.

Which Sub Registrar Office covers Kannapuram ( Ward No.18 )?

The Sub Registrar Office that covers Kannapuram ( Ward No.18 ) is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. To find your SRO, you can click find your SRO.

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

The guideline value is a crucial factor during the registration of property transactions in Madhavaram. It serves as the benchmark for determining the stamp duty and registration fees that must be paid when a property is bought or sold.

When registering a property, 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 for Kannapuram ( Ward No.18 )?

The current guideline value for Kannapuram ( Ward No.18 ) is Rs 1,300 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed from 2017 to 2024?

From 2017 to 2024, the guideline value has increased by 62%, rising from Rs 804 per sq.ft to Rs 1,300 per sq.ft.

What are the stamp duty and registration fees for a property in Kannapuram?

For a 1,000 sq.ft plot at the guideline value of Rs 1,300 per sq.ft, the total stamp duty would be Rs 91,000, and the registration fee would be Rs 26,000, totaling Rs 1,17,000.

Which office handles registrations for Kannapuram ( Ward No.18 )?

The Madhavaram Sub Registrar Office handles registrations for Kannapuram ( Ward No.18 ). It is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

Where can I find more information about the guideline values in Madhavaram?

More information about the guideline values in Madhavaram can be found in the guideline value register maintained by the Registration Department, accessible through their official resources.