Guideline Value for KANNAGI STREET (WARD -5)

Kannagi Street (Ward -5) guideline value

The current guideline value of Kannagi Street (Ward -5) is Rs 1,321 per sq.ft, effective from 1 July 2024. This street is located in Ninna Karai village under the Chengleput Joint II SRO and is classified as Residential Special Type - V.

How the guideline value of Kannagi Street (Ward -5) has changed

The guideline value for Kannagi Street (Ward -5) has seen several revisions over the years. The 2012 revision set the value at Rs 1,200 per sq.ft, which remained unchanged in the 2017 revision, where it dropped to Rs 804 per sq.ft. The value then increased significantly to Rs 1,200 per sq.ft in the 2023 revision, followed by a further increase to Rs 1,321 per sq.ft in the 2024 revision. Notably, there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

From the 2012 revision to the 2024 revision, the overall change is a modest increase of 10%. The most significant change occurred between the 2017 and 2023 revisions, where the value rose by 49%. The increase from 2023 to 2024 is 10%.

Guideline values in Ninna Karai

In Ninna Karai, there are 449 streets under the Chengleput Joint II SRO, with guideline values ranging from Rs 440 to Rs 3,500 per sq.ft. The median guideline value is Rs 1,100 per sq.ft, placing Kannagi Street's 2024 figure above this median.

• Kannaki Street (N): Rs 1,321 per sq.ft (2024)
• Kannadhasan Street (Ward -7): Rs 1,321 per sq.ft (2024)
• Kannadhasan 4th Street (Ward -8): Rs 1,321 per sq.ft (2024)
• Kannadasan Street (Ward -8): Rs 1,321 per sq.ft (2024)
• Kannadasan Street, 3rd Lane (Ward -7): Rs 1,321 per sq.ft (2024)
• Kannadasan Cross Street (Ward -8): Rs 1,321 per sq.ft (2024)

Stamp duty and registration fee for property in Kannagi Street (Ward -5)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,321 per sq.ft, the total guideline value amounts to Rs 13,21,000. The stamp duty at 7% would be Rs 92,470, and the registration fee at 2% would be Rs 26,420, bringing the total fees together to Rs 1,18,890. 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 Kannagi Street (Ward -5)?

The Chengleput Joint II Sub Registrar Office covers Kannagi Street (Ward -5). The office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO for more information.

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

When buying or selling property in Ninna Karai, the guideline value plays a crucial role during the registration process. It is used to determine the applicable stamp duty and registration fees, ensuring that the transaction is recorded accurately in the official register.

The guideline value is essential for both buyers and sellers, as it establishes a baseline for the transaction. It is important to be aware of the current guideline value to ensure compliance with registration requirements.

Frequently asked questions

What is the current guideline value of Kannagi Street (Ward -5)?

The current guideline value of Kannagi Street (Ward -5) is Rs 1,321 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, then back to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,321 per sq.ft in 2024.

What is the land classification of Kannagi Street (Ward -5)?

Kannagi Street (Ward -5) is classified as Residential Special Type - V.

What are the stamp duty and registration fees for property in Kannagi Street (Ward -5)?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total fees amount to Rs 1,18,890.

Which office handles the registration for Kannagi Street (Ward -5)?

The Chengleput Joint II Sub Registrar Office handles the registration for Kannagi Street (Ward -5), located at 10, Kancheepuram Main Road, Chengalpattu 603 002.