Guideline Value for Kanniammal Nagar

Kanniammal Nagar guideline value

The current guideline value of Kanniammal Nagar is Rs 2,200 per sq.ft, effective from 1 July 2024. This area is located in Madhavaram village under the Madhavaram SRO, classified as Residential Class I Type - I.

How the guideline value of Kanniammal Nagar has changed

The guideline value for Kanniammal Nagar has seen several revisions over the years. The 2017 revision set the value at Rs 1,340 per sq.ft, which increased to Rs 2,000 per sq.ft in 2023. The most recent revision in 2024 raised the guideline value to Rs 2,200 per sq.ft, marking a significant increase of 10% from the previous year. Overall, from 2017 to 2024, the guideline value has increased by 64%.

There are no figures available for the years 2002, 2003, 2007, and 2012 for this street. The increase from 2017 to 2023 was 49%, reflecting the changes in the area's valuation over time.

Guideline values in Madhavaram

Madhavaram village has a total of 1,946 streets under the Madhavaram SRO, with 2024 guideline values ranging from Rs 1,300 to Rs 7,500 per sq.ft. The median guideline value in the village is Rs 1,600 per sq.ft, placing Kanniammal Nagar's 2024 figure above this median.

• Kanniamman Koil Street: Rs 1,300 per sq.ft (2024)
• Kanniamman Koil st ( Ward No.26 ): Rs 1,300 per sq.ft (2024)
• Kannapuram ( Ward No.18 ): Rs 1,300 per sq.ft (2024)
• Kannapuram Nagar: 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 Kanniammal Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total cost for these fees to Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kanniammal Nagar?

The Sub Registrar Office that covers Kanniammal Nagar is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process of property transactions in Madhavaram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duty and registration fees.

When buying or selling property, the guideline value helps in assessing the fair value of the property. Buyers and sellers must consider this value as part of their financial planning and legal obligations during the transaction.

Frequently asked questions

What is the current guideline value of Kanniammal Nagar?

The current guideline value of Kanniammal Nagar is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 1,340 per sq.ft in 2017 to Rs 2,200 per sq.ft in 2024, reflecting a total increase of 64% over this period.

What are the other guideline values in Madhavaram?

The guideline values in Madhavaram range from Rs 1,300 to Rs 7,500 per sq.ft, with Kanniammal Nagar's value being above the median of Rs 1,600 per sq.ft.

How is stamp duty calculated in Kanniammal Nagar?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000.

Where can I find the Sub Registrar Office for Kanniammal Nagar?

The Sub Registrar Office for Kanniammal Nagar is located at No.7, Roja Nagar, Madhavaram, Chennai-600060. This office handles the registration of property transactions in the area.