Guideline Value for Sri KannanNagar

Sri KannanNagar guideline value

The current guideline value of Sri KannanNagar is Rs 800 per sq.ft, effective from 1 July 2024. This area is located in Kavanur village and falls under the Gooduvancheri SRO, classified as Residential Special Type - III.

How the guideline value of Sri KannanNagar has changed

Over the years, the guideline value for Sri KannanNagar has seen several revisions. The 2012 revision set the value at Rs 800 per sq.ft, which remained unchanged until the 2023 revision, also at Rs 800 per sq.ft. The 2017 revision saw a decrease to Rs 536 per sq.ft, marking a 33% drop from 2012. The most significant change occurred between 2017 and 2023, where the value increased by 49% back to Rs 800 per sq.ft.

As of the 2024 revision, the guideline value is again Rs 800 per sq.ft, showing no change from the previous year. Notably, the register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Kavanur

Kavanur village has a total of 109 streets under the Gooduvancheri SRO, with the 2024 guideline values ranging from Rs 500 to Rs 2,239 per sq.ft. The median guideline value for these streets is Rs 800 per sq.ft, placing Sri KannanNagar's 2024 figure at this median level.

• Sri Karumariamman Nagar: Rs 600 per sq.ft (2024)
• Sri Kamatchi Amman Nagar: Rs 500 per sq.ft (2024)
• Sri Jayalakshmi Nagar: Rs 500 per sq.ft (2024)
• Sri Gopalakrishna Nagar Phase -IV: Rs 804 per sq.ft (2024)
• Sri Lakshmi Nagar: Rs 700 per sq.ft (2024)
• Sri Gopalakrishna Nagar Phase -III: Rs 800 per sq.ft (2024)

Stamp duty and registration fee for property in Sri KannanNagar

For a 1,000 sq.ft plot at the current guideline value of Rs 800 per sq.ft, the total guideline value amounts to Rs 8,00,000. The stamp duty at 7% would be Rs 56,000, and the registration fee at 2% would be Rs 16,000, totaling Rs 72,000. 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 Sri KannanNagar?

The Sub Registrar Office that covers Sri KannanNagar is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role during the registration of property transactions in Kavanur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, it is essential to be aware of the guideline value as it affects the overall cost of the transaction. Buyers should ensure that the sale price is not lower than the guideline value to avoid complications during registration.

Frequently asked questions

What is the current guideline value of Sri KannanNagar?

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

How has the guideline value changed over the years?

The guideline value has remained at Rs 800 per sq.ft since 2012, with a notable drop to Rs 536 per sq.ft in 2017, followed by a return to Rs 800 per sq.ft in 2023. The 2024 revision maintains this value.

Where can I find the registration office for Sri KannanNagar?

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

What are the stamp duty and registration fees for property in Sri KannanNagar?

For a property valued at Rs 8,00,000, the stamp duty would be Rs 56,000, and the registration fee would be Rs 16,000, totaling Rs 72,000. These fees are based on the guideline value or the sale price, whichever is higher.

What other streets in Kavanur have guideline values?

Other streets in Kavanur include Sri Karumariamman Nagar at Rs 600 per sq.ft, Sri Kamatchi Amman Nagar and Sri Jayalakshmi Nagar both at Rs 500 per sq.ft, Sri Lakshmi Nagar at Rs 700 per sq.ft, and Sri Gopalakrishna Nagar Phase -IV at Rs 804 per sq.ft, among others.