Guideline Value for Kannigapuram

Kannigapuram guideline value

The current guideline value of Kannigapuram is Rs 2,800 per sq.ft, effective from 1 July 2024. This area is located in Venkatapuram village under the Adayar SRO, classified as Residential Class V Type - III.

How the guideline value of Kannigapuram has changed

Over the years, the guideline value of Kannigapuram has seen several revisions. The earliest recorded revision was in 2007, where the value was Rs 1,500 per sq.ft. This increased to Rs 2,500 per sq.ft in 2012, then decreased to Rs 1,675 per sq.ft in 2017. Following this, the value rose significantly to Rs 2,500 per sq.ft in 2023, and finally reached Rs 2,800 per sq.ft in the 2024 revision, marking an increase of 12% from the previous year.

From 2017 to 2023, there was a notable increase of 49%. The period from 2012 to 2017 saw a decrease of 33%, while the increase from 2007 to 2012 was 67%. Overall, from 2007 to 2024, the guideline value has increased by 87%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Venkatapuram

In Venkatapuram, there are 36 streets under the Adayar SRO with a 2024 guideline value ranging from Rs 2,800 to Rs 15,400 per sq.ft, with a median value of Rs 5,500 per sq.ft. The guideline value of Kannigapuram is below this median.

• Inpeeriyar Koil Street: Rs 2,800 per sq.ft (2024)
• L.D.G.Road: Rs 5,500 per sq.ft (2024)
• Church Colony: Rs 4,400 per sq.ft (2024)
• Chinnamalai: Rs 8,300 per sq.ft (2024)
• Central Avenue Road: Rs 5,500 per sq.ft (2024)
• Central Avenue: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Kannigapuram

For a 1,000 sq.ft plot at the current guideline value of Rs 2,800 per sq.ft, the total guideline value is Rs 28,00,000. The stamp duty at 7% would be Rs 1,96,000, and the registration fee at 2% would be Rs 56,000, totaling Rs 2,52,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kannigapuram?

The Sub Registrar Office that covers Kannigapuram is the Adayar Sub Registrar Office, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process of property transactions in Venkatapuram. It serves as a benchmark for determining the stamp duty and registration fees applicable when a property is bought or sold.

When registering a property, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue based on the value of the property being transacted.

Frequently asked questions

What is the current guideline value of Kannigapuram?

The current guideline value of Kannigapuram is Rs 2,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2007 to Rs 2,800 per sq.ft in 2024, marking an overall increase of 87% over the years.

What is the registration office for Kannigapuram?

The registration office for Kannigapuram is the Adayar Sub Registrar Office, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20.

How is the stamp duty calculated for property in Kannigapuram?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property valued at Rs 28,00,000 would incur a stamp duty of Rs 1,96,000 at 7%.

What are the other streets in Venkatapuram with their guideline values?

Other streets in Venkatapuram include Inpeeriyar Koil Street at Rs 2,800 per sq.ft, L.D.G.Road at Rs 5,500 per sq.ft, Church Colony at Rs 4,400 per sq.ft, Chinnamalai at Rs 8,300 per sq.ft, and Central Avenue Road and Central Avenue both at Rs 5,500 per sq.ft.