Guideline Value for SRI KANNIAMMAN NAGAR

Sri Kanniamman Nagar guideline value

The current guideline value of Sri Kanniamman Nagar is Rs 960 per sq.ft, effective from 1 July 2024. This area is located in Siruniyam village and falls under the Redhills SRO. The land classification for this street is Residential Special Type - III.

How the guideline value of Sri Kanniamman Nagar has changed

Looking at the historical revisions, the guideline value for Sri Kanniamman Nagar was Rs 750 per sq.ft in the 2012 revision. It then increased to Rs 960 per sq.ft in the 2023 revision and remained the same in the 2024 revision, resulting in a total increase of 28% from 2012 to 2024. The register has no figures for the years 2002, 2003, 2007, and 2017 for this street.

From 2012 to 2023, the guideline value rose by 28%. The 2023 to 2024 revision showed no change, maintaining the value at Rs 960 per sq.ft. This consistency in the most recent years indicates stability in the guideline value for Sri Kanniamman Nagar.

Guideline values in Siruniyam

In Siruniyam, there are 32 streets under the Redhills SRO that carry a 2024 guideline value ranging from Rs 220 to Rs 1,500 per sq.ft, with a median value of Rs 440 per sq.ft. The guideline value for Sri Kanniamman Nagar is above this median, reflecting its unique position within the village.

• Sri Gangadevi Nagar: Rs 220 per sq.ft (2024)
• Sri Balaji Nagar: Rs 825 per sq.ft (2024)
• Sri Selva Vignesh Nagar: Rs 440 per sq.ft (2024)
• Sri Selva Vignesh Nagar East Avenue: Rs 400 per sq.ft (2024)
• Sri Selva Vignesh Nagar Phase-II: Rs 1,500 per sq.ft (2024)
• Sri Selva Vignesh Outer Ring Road Avenue: Rs 440 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Kanniamman Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 960 per sq.ft, the total guideline value would be Rs 9,60,000. The stamp duty at 7% would amount to Rs 67,200, and the registration fee at 2% would be Rs 19,200, bringing the total charges to Rs 86,400. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Sri Kanniamman Nagar?

The Sub Registrar Office that covers Sri Kanniamman Nagar is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Siruniyam. It serves as a benchmark for calculating the stamp duty and registration fees, ensuring that these costs are based on a standardized value rather than fluctuating market prices.

When a property is sold, the guideline value helps determine the minimum price at which the property can be registered. Buyers and sellers must consider this value to avoid any discrepancies during the transaction process.

Frequently asked questions

What is the current guideline value of Sri Kanniamman Nagar?

The current guideline value of Sri Kanniamman Nagar is Rs 960 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value increased from Rs 750 per sq.ft in 2012 to Rs 960 per sq.ft in 2023 and remained the same in 2024, marking a total increase of 28% from 2012 to 2024.

What is the land classification of Sri Kanniamman Nagar?

Sri Kanniamman Nagar is classified as Residential Special Type - III, indicating its designated use within the village.

How is stamp duty calculated for properties in Sri Kanniamman Nagar?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 9,60,000 would incur a stamp duty of Rs 67,200.

Where is the Sub Registrar Office for Sri Kanniamman Nagar located?

The Sub Registrar Office for Sri Kanniamman Nagar is located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.