Guideline Value for KANAKKAR LANE

Kanakkar Lane guideline value

The current guideline value of Kanakkar Lane is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Thiruvottiyur village, under the Thiruvottiyur SRO, and is classified as Residential Special Type - I.

How the guideline value of Kanakkar Lane has changed

The guideline value for Kanakkar Lane has seen several revisions over the years. In the 2007 revision, the value was set at Rs 900 per sq.ft. This increased significantly to Rs 3,000 per sq.ft in the 2012 revision, marking a notable rise of 233%. However, in the 2017 revision, the value decreased to Rs 2,010 per sq.ft, a reduction of 33%. The following revision in 2023 saw a substantial increase to Rs 3,000 per sq.ft, and the most recent revision in 2024 has set the value at Rs 3,300 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 267%. It is important to note that there are no figures available for Kanakkar Lane in the 2002 and 2003 revisions.

Guideline values in Thiruvottiyur

In Thiruvottiyur, there are 177 streets under the Thiruvottiyur SRO that carry a 2024 guideline value ranging from Rs 1,300 to Rs 8,600 per sq.ft. The median guideline value is Rs 3,300 per sq.ft, which is equal to the 2024 figure for Kanakkar Lane.

• Kambar Street: Rs 3,300 per sq.ft (2024)
• Kannakkar Street: Rs 3,300 per sq.ft (2024)
• Kamaraj Nagar: Rs 2,400 per sq.ft (2024)
• Karnikar Street(Kannkar Street): Rs 3,300 per sq.ft (2024)
• Kamala Nagar: Rs 3,300 per sq.ft (2024)
• Kamadevan Nagar: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Kanakkar Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, while the registration fee at 2% would be Rs 66,000. Together, the total cost for stamp duty and registration would be Rs 2,97,000. 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 Kanakkar Lane?

The Sub Registrar Office that covers Kanakkar Lane 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 Thiruvottiyur

The guideline value is a crucial factor during the registration of property transactions in Thiruvottiyur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property.

When a property is sold, the sale price or the guideline value, whichever is higher, is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue based on the property's value.

Frequently asked questions

What is the current guideline value of Kanakkar Lane?

The current guideline value of Kanakkar Lane is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 900 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, marking an overall increase of 267% over the years.

What is the land classification of Kanakkar Lane?

Kanakkar Lane is classified as Residential Special Type - I under the Thiruvottiyur SRO.

What are the stamp duty and registration fees for a property in Kanakkar Lane?

For a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 and the registration fee would be Rs 66,000, totaling Rs 2,97,000.

Where is the Sub Registrar Office for Kanakkar Lane located?

The Thiruvottiyur Sub Registrar Office is located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.