Guideline Value for KANNABIRAN CROSS STREET

Kannabiran Cross Street guideline value

The current guideline value of Kannabiran Cross Street is Rs 1,980 per sq.ft, effective from 1 July 2024. This street is located in Pallikaranai village and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Class III Type - I.

How the guideline value of Kannabiran Cross Street has changed

The guideline value for Kannabiran Cross Street has undergone several revisions over the years. In 2002, the value was Rs 87 per sq.ft, which increased to Rs 103 per sq.ft in 2003, marking an 18% rise. By 2007, the value saw a significant jump to Rs 400 per sq.ft, reflecting a 288% increase. The guideline value remained at Rs 400 per sq.ft until 2012, when it was revised to Rs 1,800 per sq.ft, a substantial increase of 350%. The value stayed the same until the 2023 revision, which also recorded Rs 1,800 per sq.ft, with no change noted.

The most recent revision in 2024 saw the guideline value increase to Rs 1,980 per sq.ft, representing a 10% rise from the previous year. Overall, from 2002 to 2024, the guideline value has increased by 2,176%.

Guideline values in Pallikaranai

Pallikaranai village has a total of 749 streets under the Chennai South Joint I SRO, with 2024 guideline values ranging from Rs 1,110 to Rs 8,580 per sq.ft. The median value for these streets is Rs 1,650 per sq.ft, placing Kannabiran Cross Street's 2024 guideline value above this median.

• Kannabiran Koil 3 Cross St: Rs 1,980 per sq.ft (2024)
• Kannabiran Koil Street: Rs 1,980 per sq.ft (2024)
• Kannabiran Nagar 1st Main Road: Rs 1,980 per sq.ft (2024)
• Kannabiran Nagar Ext: Rs 1,980 per sq.ft (2024)
• Kannabiran Nagar Main Road: Rs 1,980 per sq.ft (2024)
• Kannadasan Nagar: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Kannabiran Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,980 per sq.ft, the total guideline value amounts to Rs 19,80,000. The stamp duty at 7% would be Rs 1,38,600, and the registration fee at 2% would be Rs 39,600, bringing the total charges to Rs 1,78,200. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kannabiran Cross Street?

The Sub Registrar Office that covers Kannabiran Cross Street is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035, Chennai registration zone.

You can find your SRO for more details.

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

The guideline value plays a crucial role during the registration process when buying or selling property. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction. Buyers should be aware that the guideline value may differ from the actual sale price, and the duty is charged on the higher amount.

Understanding the guideline value is essential for both buyers and sellers, as it impacts the overall cost of property transactions in Pallikaranai. It is advisable to check the latest revisions to ensure compliance with the current rates.

Frequently asked questions

What is the current guideline value of Kannabiran Cross Street?

The current guideline value of Kannabiran Cross Street is Rs 1,980 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 87 per sq.ft in 2002 to Rs 1,980 per sq.ft in 2024, reflecting an overall increase of 2,176% over the years.

What are the other streets in Pallikaranai with similar guideline values?

Other streets in Pallikaranai with a guideline value of Rs 1,980 per sq.ft in 2024 include Kannabiran Koil 3 Cross St, Kannabiran Koil Street, Kannabiran Nagar 1st Main Road, Kannabiran Nagar Ext, and Kannabiran Nagar Main Road.

What fees are applicable when registering property in Kannabiran Cross Street?

When registering property in Kannabiran Cross Street, the stamp duty is charged at 7% of the guideline value, and the registration fee is 2% of the guideline value. These fees are calculated based on the higher of the guideline value and the sale price.

Where can I find the Sub Registrar Office for Kannabiran Cross Street?

The Sub Registrar Office for Kannabiran Cross Street is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.