Guideline Value for Kannika Parameswari Nagar

Kannika Parameswari Nagar guideline value

The current guideline value of Kannika Parameswari Nagar is Rs 200 per sq.ft, effective from 1 July 2024. This area is located in Amarampedu village and falls under the Sriperumpudur SRO. The land classification for this street is Residential Class I Type - I.

How the guideline value of Kannika Parameswari Nagar has changed

The guideline value for Kannika Parameswari Nagar has undergone several revisions over the years. The earliest recorded figure is from 2012, which was Rs 200 per sq.ft. In 2017, this value decreased to Rs 134 per sq.ft, marking a drop of 33%. However, by 2023, the guideline value increased to Rs 200 per sq.ft, representing a significant rise of 49% from the 2017 revision. The current revision in 2024 maintains this value at Rs 200 per sq.ft, showing no change from the previous year.

It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has remained unchanged at Rs 200 per sq.ft.

Guideline values in Amarampedu

Amarampedu village has a total of 45 streets under the Sriperumpudur SRO that carry a 2024 guideline value ranging from Rs 100 to Rs 500 per sq.ft. The median value among these streets is Rs 200 per sq.ft, which is equal to the guideline value of Kannika Parameswari Nagar.

• Kanniamman Koil Street: Rs 150 per sq.ft (2024)
• Kamarajar Street: Rs 200 per sq.ft (2024)
• Kalaignar Street: Rs 150 per sq.ft (2024)
• Kundrathur Main Road: Rs 500 per sq.ft (2024)
• Lakshmi Nagar: Rs 350 per sq.ft (2024)
• Lakshmi Nagar Phase 2: Rs 350 per sq.ft (2024)

Stamp duty and registration fee for property in Kannika Parameswari Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 200 per sq.ft, the total guideline value amounts to Rs 2,00,000. The stamp duty at 7% would be Rs 14,000, and the registration fee at 2% would be Rs 4,000, bringing the total fees to Rs 18,000. It is important to 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 Kannika Parameswari Nagar?

The Sub Registrar Office that covers Kannika Parameswari Nagar is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property in Amarampedu. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction process. Buyers and sellers must be aware of the guideline value to ensure compliance with legal requirements.

When a property is sold, the guideline value is compared with the sale price, and the higher amount is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Kannika Parameswari Nagar?

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

How has the guideline value changed over the years?

The guideline value has seen various changes, with the most recent revision in 2024 maintaining the value at Rs 200 per sq.ft. It was Rs 134 per sq.ft in 2017, which was a decrease from Rs 200 per sq.ft in 2012.

What is the land classification for Kannika Parameswari Nagar?

Kannika Parameswari Nagar is classified as Residential Class I Type - I, indicating its suitability for residential development.

Where can I find the Sub Registrar Office for Kannika Parameswari Nagar?

The Sub Registrar Office for Kannika Parameswari Nagar is located at 27, Chetty Street, Sriperumpudur-602 105, in the Chengalpattu registration zone.

How is the stamp duty calculated for property transactions?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, if the guideline value is Rs 2,00,000, the stamp duty at 7% would be Rs 14,000.