Guideline Value for Kanniappan Nagar M.G.R. Salai

Kanniappan Nagar M.G.R. Salai guideline value

The current guideline value of Kanniappan Nagar M.G.R. Salai is Rs 1,550 per sq.ft, effective from 1 July 2024. This street is located in Thirunageswaram village and falls under the Kunrathur SRO, classified as Residential Special Type - II.

How the guideline value of Kanniappan Nagar M.G.R. Salai has changed

The guideline value for Kanniappan Nagar M.G.R. Salai has undergone several revisions over the years. The 2012 revision set the value at Rs 1,400 per sq.ft, which decreased to Rs 938 per sq.ft in 2017. Following this, the 2023 revision increased the value to Rs 1,400 per sq.ft, and the most recent revision in 2024 raised it to Rs 1,550 per sq.ft, marking an increase of 11% from the previous year.

From 2017 to 2023, the value saw a significant increase of 49%. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 11%. The revisions for the years 2002, 2003, and 2007 do not have any figures listed for this street in the register.

Guideline values in Thirunageswaram

In Thirunageswaram, there are 105 streets under the Kunrathur SRO that carry a 2024 guideline value ranging from Rs 800 to Rs 2,000 per sq.ft. The median value is Rs 1,550 per sq.ft, which is equal to the guideline value of Kanniappan Nagar M.G.R. Salai.

• Kanniappan Nagar Jeeva Street: Rs 1,550 per sq.ft (2024)
• Kanniappan Nagar Murugesan Street: Rs 1,550 per sq.ft (2024)
• Kanniappan Nagar Bharathi Street: Rs 1,550 per sq.ft (2024)
• Kanniappan Nagar Thiruvalluvar Street: Rs 1,550 per sq.ft (2024)
• Kanniappan Nagar Balathandayutham Street: Rs 1,550 per sq.ft (2024)
• Kanniappan Nagar T.V.K. Street: Rs 1,550 per sq.ft (2024)

Stamp duty and registration fee for property in Kanniappan Nagar M.G.R. Salai

For a 1,000 sq.ft plot at the current guideline value of Rs 1,550 per sq.ft, the total guideline value amounts to Rs 15,50,000. The stamp duty at 7% would be Rs 1,08,500, and the registration fee at 2% would be Rs 31,000, bringing the total fees to Rs 1,39,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Kanniappan Nagar M.G.R. Salai?

The Kanniappan Nagar M.G.R. Salai falls under the jurisdiction of the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more details.

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

The guideline value is a crucial factor during property transactions in Thirunageswaram, as it determines the minimum value on which stamp duty and registration fees are calculated. Buyers and sellers must consider this value to ensure compliance with local regulations during the registration process.

When a property is sold, the guideline value serves as a benchmark to assess the transaction's legitimacy. It helps in preventing undervaluation and ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Kanniappan Nagar M.G.R. Salai?

The current guideline value of Kanniappan Nagar M.G.R. Salai is Rs 1,550 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,400 per sq.ft in 2012 to Rs 938 per sq.ft in 2017, then to Rs 1,400 per sq.ft in 2023, and finally to Rs 1,550 per sq.ft in 2024.

What are the other streets in Thirunageswaram with the same guideline value?

Other streets in Thirunageswaram with the same guideline value of Rs 1,550 per sq.ft include Kanniappan Nagar Jeeva Street, Kanniappan Nagar Murugesan Street, Kanniappan Nagar Bharathi Street, Kanniappan Nagar Thiruvalluvar Street, Kanniappan Nagar Balathandayutham Street, and Kanniappan Nagar T.V.K. Street.

How is stamp duty calculated for properties in Kanniappan Nagar M.G.R. Salai?

Stamp duty for properties in Kanniappan Nagar M.G.R. Salai is calculated at 7% of the guideline value or the sale price, whichever is higher. Additionally, a registration fee of 2% is also applicable.

Where can I find the Sub Registrar Office for Kanniappan Nagar M.G.R. Salai?

The Sub Registrar Office covering Kanniappan Nagar M.G.R. Salai is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069.