Guideline Value for KANNABIRAN KOIL STREET

Kannabiran Koil Street guideline value

The current guideline value of Kannabiran Koil Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Uthandi village, under the Neelankarai SRO, and is classified as Residential Class II Type - I.

How the guideline value of Kannabiran Koil Street has changed

The guideline value for Kannabiran Koil Street has seen several revisions over the years. In 2003, the value was Rs 85 per sq.ft, which increased significantly to Rs 300 per sq.ft in 2007. The value further rose to Rs 2,000 per sq.ft in 2012, followed by a decrease to Rs 1,340 per sq.ft in 2017. The 2023 revision saw an increase to Rs 2,000 per sq.ft, and the most recent revision in 2024 set the value at Rs 2,200 per sq.ft. The register has no figure for the year 2002.

Between the revisions, there were notable changes. From 2003 to 2007, the value increased by 253%. However, from 2012 to 2017, there was a decrease of 33%. The value then surged by 49% from 2017 to 2023. The overall change from 2003 to 2024 is an impressive increase of 2488%.

Guideline values in Uthandi

In Uthandi, there are 197 streets under the Neelankarai SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 14,700 per sq.ft. The median value for these streets is Rs 1,700 per sq.ft, placing Kannabiran Koil Street above this median.

• Kannaki Salai: Rs 2,200 per sq.ft (2024)
• Kannanrukmani-Radha Garden: Rs 1,100 per sq.ft (2024)
• Kannappa Naicker Garden: Rs 1,100 per sq.ft (2024)
• Kannappan Garden: Rs 1,100 per sq.ft (2024)
• Karumariamman Koil Street: Rs 1,700 per sq.ft (2024)
• Kalyana Sundaram Charity: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Kannabiran Koil Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total fees together to Rs 1,98,000. 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 Koil Street?

The Sub Registrar Office that covers Kannabiran Koil Street 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 details.

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

The guideline value plays a crucial role in property transactions in Uthandi. It is used to determine the stamp duty and registration fees applicable during the sale or purchase of property. Buyers and sellers must consider this value to ensure compliance with local regulations.

When registering a property, the guideline value is compared to the sale price, and the higher amount is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Kannabiran Koil Street?

The current guideline value of Kannabiran Koil 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 changed from Rs 85 per sq.ft in 2003 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 2488% over this period.

What is the land classification for Kannabiran Koil Street?

Kannabiran Koil Street is classified as Residential Class II Type - I.

Where can I find the Neelankarai Sub Registrar Office?

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 the stamp duty calculated for properties in Uthandi?

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 22,00,000, the stamp duty would be Rs 1,54,000 at a rate of 7%.