Guideline Value for Kanniappan Nagar

Kanniappan Nagar guideline value

The current guideline value of Kanniappan Nagar is Rs 2,860 per sq.ft, effective from 1 July 2024. This area is located in Mogalivakkam village under the Kunrathur SRO, and it falls under the Residential Special Type - II land classification.

How the guideline value of Kanniappan Nagar has changed

The guideline value for Kanniappan Nagar has seen several revisions over the years. The 2012 revision set the value at Rs 2,600 per sq.ft, which was then reduced to Rs 1,742 per sq.ft in 2017. After this, the value increased significantly to Rs 2,600 per sq.ft in 2023, followed by the current value of Rs 2,860 per sq.ft in 2024, marking a 10% increase from the previous year.

From 2017 to 2023, the value increased by 49%. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Mogalivakkam

Mogalivakkam has 98 streets under the Kunrathur SRO, with guideline values for 2024 ranging from Rs 2,530 to Rs 6,600 per sq.ft. The median guideline value in this area is Rs 2,970 per sq.ft, placing Kanniappan Nagar's 2024 figure below that median.

• KarthikBalaji Nagar: Rs 2,530 per sq.ft (2024)
• Kamatchi Nagar: Rs 2,860 per sq.ft (2024)
• K.R.B.Avenue: Rs 2,530 per sq.ft (2024)
• Krishnaveni Nagar: Rs 2,970 per sq.ft (2024)
• Krishnaveni Nagar Extension: Rs 2,970 per sq.ft (2024)
• Kumudham Nagar Annexe: Rs 3,520 per sq.ft (2024)

Stamp duty and registration fee for property in Kanniappan Nagar

For a 1,000 sq.ft plot at the current rate of Rs 2,860 per sq.ft, the guideline value amounts to Rs 28,60,000. The stamp duty at 7% would be Rs 2,00,200, and the registration fee at 2% would be Rs 57,200, bringing the total to Rs 2,57,400. Please note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Kanniappan Nagar?

Kanniappan Nagar 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 information.

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

The guideline value is a crucial factor during property registration in Mogalivakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property in the area.

When a property is sold, the guideline value is used to assess the applicable charges, ensuring that the transaction is recorded accurately. Buyers and sellers should be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Kanniappan Nagar?

The current guideline value of Kanniappan Nagar is Rs 2,860 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,600 per sq.ft in 2012 to Rs 1,742 per sq.ft in 2017, then increased to Rs 2,600 per sq.ft in 2023, and finally to Rs 2,860 per sq.ft in 2024.

What is the land classification for Kanniappan Nagar?

Kanniappan Nagar is classified as Residential Special Type - II under the land classification system.

How does the guideline value compare to other streets in Mogalivakkam?

The guideline value for Kanniappan Nagar is below the median value of Rs 2,970 per sq.ft for the area. Other streets in Mogalivakkam have varying rates, with some streets priced higher and others lower.

Where can I find the registration office for Kanniappan Nagar?

The Kunrathur Sub Registrar Office, which covers Kanniappan Nagar, is located at No.59, Road Street, Kundrathur, Chennai -600 069.