Guideline Value for John Kennadi Street

John Kennadi Street guideline value

The current guideline value of John Kennadi Street in Ullagaram village, under the Alandur SRO, is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is classified as Residential Class II Type - II.

How the guideline value of John Kennadi Street has changed

The guideline value for John Kennadi Street has seen several revisions over the years. In 2002, the guideline value was Rs 172 per sq.ft. This increased to Rs 193 per sq.ft in 2003, marking a 12% rise. The value continued to climb significantly, reaching Rs 1,000 per sq.ft in 2007, which was a 418% increase from the previous revision. By 2012, the value adjusted to Rs 2,000 per sq.ft, reflecting a decrease of 33% from 2007.

In 2017, the guideline value rose to Rs 1,340 per sq.ft, an increase of 49% from the 2012 figure. The most recent revisions show that in 2023, the value was Rs 2,000 per sq.ft, and it has now increased to Rs 2,200 per sq.ft in 2024, a 10% rise. Overall, from 2002 to 2024, the guideline value has increased by 1,179%.

Guideline values in Ullagaram

In Ullagaram, there are 298 streets under the Alandur SRO that carry a 2024 guideline value ranging from Rs 1,700 to Rs 5,500 per sq.ft, with a median value of Rs 2,800 per sq.ft. The guideline value of John Kennadi Street is below this median.

• Jothi Ramalingam Street: Rs 2,800 per sq.ft (2024)
• Jayaraman Street: Rs 2,200 per sq.ft (2024)
• Jayanthi Nagar Main: Rs 3,900 per sq.ft (2024)
• Jayanthi Nagar 9th Street: Rs 3,900 per sq.ft (2024)
• Jayanthi Nagar 8th Street: Rs 3,900 per sq.ft (2024)
• Jayanthi Nagar 7th Street: Rs 3,900 per sq.ft (2024)

Stamp duty and registration fee for property in John Kennadi Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total fees to Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers John Kennadi Street?

The Sub Registrar Office that covers John Kennadi Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. To find your SRO, you can visit find your SRO.

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

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

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees. Buyers should be aware that these fees are based on the higher of the guideline value or the sale price, ensuring that the transaction is accurately recorded and taxed.

Frequently asked questions

What is the current guideline value of John Kennadi Street?

The current guideline value of John Kennadi Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 172 per sq.ft in 2002 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 1,179%.

What is the land classification for John Kennadi Street?

John Kennadi Street is classified as Residential Class II Type - II.

What are the stamp duty and registration fees for property in John Kennadi Street?

For a 1,000 sq.ft plot, the total stamp duty and registration fees would amount to Rs 1,98,000 based on the current guideline value.

Which office handles the registration for John Kennadi Street?

The Alandur Sub Registrar Office handles the registration for John Kennadi Street, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.