Guideline Value for KANNAGI STREET (WARD -5)

Kannagi Street (Ward -5) guideline value

The current guideline value of Kannagi Street (Ward -5) is Rs 1,320 per sq.ft, effective from 1 July 2024. This street is located in Panangottur 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 has seen several revisions over the years. In the 2012 revision, the value was Rs 1,200 per sq.ft. This figure remained the same in the subsequent revision in 2017, where it dropped to Rs 804 per sq.ft. The 2023 revision increased the value to Rs 1,200 per sq.ft, and the latest revision in 2024 raised it further to Rs 1,320 per sq.ft. There are no figures available for the years 2002, 2003, and 2007 in the register for this street.

Between the 2012 and 2017 revisions, there was a decrease of 33%. However, from 2017 to 2023, the value increased significantly by 49%. The overall change from 2012 to 2024 reflects a 10% increase in the guideline value.

Guideline values in Panangottur

In Panangottur, there are 419 streets under the Chengleput Joint II SRO that carry a 2024 guideline value ranging from Rs 440 to Rs 2,200 per sq.ft, with a median value of Rs 990 per sq.ft. The guideline value of Kannagi Street (Ward -5) is above this median.

• Kannaki Street (N): Rs 1,320 per sq.ft (2024)
• Kannadhasan Street (Ward -7): Rs 1,320 per sq.ft (2024)
• Kannadhasan 4th Street (Ward -8): Rs 1,320 per sq.ft (2024)
• Kannadasan Street (Ward -8): Rs 1,320 per sq.ft (2024)
• Kannadasan Street, 3rd Lane (Ward -7): Rs 1,320 per sq.ft (2024)
• Kannadasan Cross Street (Ward -8): Rs 1,320 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 1,320 per sq.ft, the total guideline value amounts to Rs 13,20,000. The stamp duty at 7% would be Rs 92,400, and the registration fee at 2% would be Rs 26,400, making the total cost of duty and fees Rs 1,18,800. It is important to note that 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 Kannagi Street (Ward -5)?

The Sub Registrar Office that covers Kannagi Street (Ward -5) is the Chengleput Joint II Sub Registrar Office, 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 Panangottur

The guideline value is a critical factor when registering property transactions in Panangottur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the sale or purchase of property.

When a property is sold or purchased, the guideline value is used to ensure that the transaction is recorded at a value that reflects the current market conditions as per the government register. This helps in maintaining transparency and consistency in property transactions.

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 1,320 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 1,320 per sq.ft in 2024, reflecting an overall increase of 10% over this period.

What are the stamp duty rates applicable in Kannagi Street (Ward -5)?

The stamp duty rate applicable in Kannagi Street (Ward -5) is 7%, while the registration fee is 2% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Kannagi Street (Ward -5)?

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

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

Kannagi Street (Ward -5) is classified as Residential Special Type - V, indicating its suitability for residential purposes.