Guideline Value for CHINNA KANNU STREET

Chinna Kannu Street guideline value

The current guideline value of Chinna Kannu Street is Rs 1,500 per sq.ft, effective from 1 July 2024. This street is located in Manali village under the Thiruvottiyur SRO, and the land classification is Mixed Special Type - III.

How the guideline value of Chinna Kannu Street has changed

The guideline value for Chinna Kannu Street has seen several revisions over the years. In 2002, the value was Rs 81 per sq.ft, which increased to Rs 93 per sq.ft in 2003. Following this, there was a significant rise to Rs 200 per sq.ft in 2007, and then a remarkable jump to Rs 1,400 per sq.ft in 2012. However, the value decreased to Rs 938 per sq.ft in 2017. The value then rose to Rs 1,400 per sq.ft in 2023, before reaching the current figure of Rs 1,500 per sq.ft in 2024.

In terms of percentage changes, from 2002 to 2003, there was an increase of 15%. The rise from 2003 to 2007 was 115%, and the jump from 2007 to 2012 was 600%. The value then decreased by 33% from 2012 to 2017. From 2017 to 2023, there was a significant increase of 49%, followed by a 7% increase from 2023 to 2024. Overall, from 2002 to 2024, the guideline value has increased by 1,752%.

Guideline values in Manali

In Manali village, there are 84 streets under the Thiruvottiyur SRO that carry a 2024 guideline value ranging from Rs 1,001 to Rs 3,300 per sq.ft, with a median value of Rs 1,200 per sq.ft. Chinna Kannu Street's current value of Rs 1,500 per sq.ft is above this median.

• Chandran Street: Rs 1,200 per sq.ft (2024)
• Bharathiyar Street: Rs 1,500 per sq.ft (2024)
• Bharathidasan Street: Rs 1,500 per sq.ft (2024)
• Dr. Ambetkar Street / Nagar: Rs 1,500 per sq.ft (2024)
• Dr. New M.G.R. Nagar: Rs 1,200 per sq.ft (2024)
• Dr. Radhakrishnan Road: Rs 1,200 per sq.ft (2024)

Stamp duty and registration fee for property in Chinna Kannu Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,500 per sq.ft, the total guideline value would be Rs 15,00,000. The stamp duty at 7% would amount to Rs 1,05,000, and the registration fee at 2% would be Rs 30,000, bringing the total to Rs 1,35,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Chinna Kannu Street?

The Sub Registrar Office that covers Chinna Kannu Street is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Manali. When buying or selling property, the guideline value is used to determine the applicable stamp duty and registration fees. This ensures that the transaction is recorded accurately and legally.

At the time of registration, the higher amount between the guideline value and the sale price is considered for calculating the stamp duty. This means that buyers should be aware of the guideline value to understand the financial implications of their property transactions.

Frequently asked questions

What is the current guideline value of Chinna Kannu Street?

The current guideline value of Chinna Kannu Street is Rs 1,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 81 per sq.ft in 2002 to Rs 1,500 per sq.ft in 2024, with various revisions in between. The value has seen both increases and decreases over the years.

What is the land classification of Chinna Kannu Street?

The land classification of Chinna Kannu Street is Mixed Special Type - III, which indicates the type of development permissible in the area.

Where can I find the Thiruvottiyur Sub Registrar Office?

The Thiruvottiyur Sub Registrar Office is located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. This office handles property registrations in the area.

How is the stamp duty calculated for properties in Chinna Kannu Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 15,00,000, the stamp duty would be Rs 1,05,000 at 7%.