Guideline Value for KANAKAVALLI AVENUE

Kanakavalli Avenue guideline value

The current guideline value of Kanakavalli Avenue is Rs 1,100 per sq.ft, effective from 1 July 2024. This street is located in Okkiyamthuraipakkam village, under the Neelankarai Sub Registrar Office (SRO). The land classification for this area is Residential Class IV Type - II.

How the guideline value of Kanakavalli Avenue has changed

The guideline value for Kanakavalli Avenue has undergone several revisions over the years. In 2003, the value was Rs 111 per sq.ft, which increased to Rs 250 per sq.ft in 2007, marking a significant rise of 125%. By 2012, the value reached Rs 1,000 per sq.ft, reflecting a remarkable increase of 300%. However, it then decreased to Rs 670 per sq.ft in 2017, a drop of 33%. The value rose again to Rs 1,000 per sq.ft in 2023, and most recently, it has increased to Rs 1,100 per sq.ft in 2024, representing a 10% increase from the previous year.

It is important to note that there is no figure available for Kanakavalli Avenue in the 2002 revision. Overall, from 2003 to 2024, the guideline value has increased by 891%.

Guideline values in Okkiyamthuraipakkam

In Okkiyamthuraipakkam, there are 453 streets under the Neelankarai SRO, with guideline values ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median value for these streets is Rs 3,300 per sq.ft, positioning Kanakavalli Avenue's 2024 figure below this median.

• Kamaraj Street (Near V.P.G.): Rs 2,200 per sq.ft (2024)
• Kamaraj Street (Near Post Office): Rs 4,400 per sq.ft (2024)
• Kamaraj Salai: Rs 5,500 per sq.ft (2024)
• Kamarajar Street (Near Industrial Estate Road/Egret): Rs 5,500 per sq.ft (2024)
• KAMARAJAR STREET (10ft ROAD): Rs 2,200 per sq.ft (2024)
• Karunanithi Cholan Nagar: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Kanakavalli Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value would be Rs 11,00,000. The stamp duty at 7% would amount to Rs 77,000, and the registration fee at 2% would be Rs 22,000, totaling Rs 99,000. 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 Kanakavalli Avenue?

The Sub Registrar Office that covers Kanakavalli Avenue is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Okkiyamthuraipakkam. When a buyer or seller approaches the Sub Registrar Office for registration, the guideline value is used to determine the stamp duty and registration fees applicable to the transaction.

It is essential for both parties to be aware of the guideline value, as it can affect the overall cost of the transaction. The higher value between the guideline value and the sale price is taken into account for calculating the applicable duties.

Frequently asked questions

What is the current guideline value of Kanakavalli Avenue?

The current guideline value of Kanakavalli Avenue is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 111 per sq.ft in 2003 to Rs 1,100 per sq.ft in 2024, reflecting an overall increase of 891% over the years.

What is the land classification for Kanakavalli Avenue?

Kanakavalli Avenue is classified as Residential Class IV Type - II.

Where is the Neelankarai SRO located?

The Neelankarai Sub Registrar Office is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

How is stamp duty calculated for properties in Kanakavalli Avenue?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a 1,000 sq.ft plot at the guideline value of Rs 1,100 per sq.ft would incur a total guideline value of Rs 11,00,000.