Guideline Value for Kanniyappa Nagar

Kanniyappa Nagar guideline value

The current guideline value of Kanniyappa Nagar is Rs 2,001 per sq.ft, effective from 1 July 2024. This street is located in Gooduvancheri village, under the Gooduvancheri SRO, and is classified as Residential Special Type - II.

How the guideline value of Kanniyappa Nagar has changed

Over the years, the guideline value of Kanniyappa Nagar has seen significant changes. The 2017 revision set the value at Rs 1,340 per sq.ft, which increased to Rs 2,000 per sq.ft in the 2023 revision. As of the 2024 revision, the value remains at Rs 2,001 per sq.ft, indicating no change from the previous year. There are no figures available for the years 2002, 2003, 2007, and 2012 in the register for this street.

From 2017 to 2023, the guideline value increased by 49%, and the overall change from 2017 to 2024 is also a 49% increase. This consistent rise reflects the evolving real estate landscape in the area.

Guideline values in Gooduvancheri

In Gooduvancheri, there are 129 streets under the Gooduvancheri SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 3,500 per sq.ft, with a median value of Rs 1,500 per sq.ft. The guideline value of Kanniyappa Nagar is above this median, indicating a higher valuation compared to many other streets in the village.

• Kannagi Street: Rs 2,001 per sq.ft (2024)
• Kambar Street: Rs 2,001 per sq.ft (2024)
• Kamatchi Nagar: Rs 1,500 per sq.ft (2024)
• K.J. Nagar: Rs 1,200 per sq.ft (2024)
• KJ Nagar Extn: Rs 1,000 per sq.ft (2024)
• K.K. Nagar: Rs 2,001 per sq.ft (2024)

Stamp duty and registration fee for property in Kanniyappa Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,001 per sq.ft, the total guideline value would be Rs 20,01,000. The stamp duty at 7% would amount to Rs 1,40,070, and the registration fee at 2% would be Rs 40,020, bringing the total fees to Rs 1,80,090. 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 Kanniyappa Nagar?

The Sub Registrar Office that covers Kanniyappa Nagar is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Gooduvancheri. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that transactions are conducted fairly and transparently.

When a property is sold, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government collects appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Kanniyappa Nagar?

The current guideline value of Kanniyappa Nagar is Rs 2,001 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 2,001 per sq.ft in 2024, showing a 49% increase overall during this period. The value remained at Rs 2,000 per sq.ft in 2023.

What is the land classification for Kanniyappa Nagar?

Kanniyappa Nagar is classified as Residential Special Type - II, indicating its suitability for residential development.

What is the stamp duty rate in Kanniyappa Nagar?

The stamp duty rate for property transactions in Kanniyappa Nagar is 7% of the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Kanniyappa Nagar located?

The Gooduvancheri Sub Registrar Office is located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone.