Guideline Value for KANNAGI STREET (WARD-21)

Kannagi Street (Ward-21) guideline value

The current guideline value of Kannagi Street (Ward-21) is Rs 660 per sq.ft, effective from 1 July 2024. This street is located in Potheri village and falls under the Chengleput Joint II SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Kannagi Street (Ward-21) has changed

The guideline value for Kannagi Street (Ward-21) has seen several revisions over the years. The earliest recorded revision is from 2012, where the value was Rs 600 per sq.ft. This was followed by a decrease to Rs 402 per sq.ft in 2017. The value then increased significantly to Rs 600 per sq.ft in 2023, and most recently to Rs 660 per sq.ft in 2024, marking a 10% increase from the previous year.

From 2012 to 2017, the value decreased by 33%. However, from 2017 to 2023, it rose by 49%. Overall, from 2012 to 2024, the guideline value has increased by 10%. It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Potheri

Potheri village has a total of 129 streets under the Chengleput Joint II SRO, with guideline values ranging from Rs 440 to Rs 2,970 per sq.ft. The median guideline value in Potheri is Rs 770 per sq.ft, indicating that the 2024 figure for Kannagi Street (Ward-21) is below this median.

• Kannammal Street Narasimman Nagar (Ward -21): Rs 880 per sq.ft (2024)
• Kambar Street (Ward-21): Rs 660 per sq.ft (2024)
• Kambar Street (Ward-20): Rs 1,100 per sq.ft (2024)
• Kamatchi Nagar (Val): Rs 880 per sq.ft (2024)
• Karukkan Thoppu (Ward-21): Rs 660 per sq.ft (2024)
• Kamarajar Street (Ward-21): Rs 660 per sq.ft (2024)

Stamp duty and registration fee for property in Kannagi Street (Ward-21)

For a 1,000 sq.ft plot at the current guideline value of Rs 660 per sq.ft, the total guideline value would be Rs 6,60,000. The stamp duty at 7% would amount to Rs 46,200, while the registration fee at 2% would be Rs 13,200. Together, the total cost for stamp duty and registration fee would be Rs 59,400. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kannagi Street (Ward-21)?

The Sub Registrar Office that covers Kannagi Street (Ward-21) 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 Potheri

The guideline value is a crucial factor when buying or selling property in Potheri, as it determines the minimum value at which a property can be registered. This value is used to calculate stamp duty and registration fees, ensuring that both parties in a transaction are aware of the costs involved.

When registering a property, the seller must provide the guideline value, which is then used by the registration office to assess the appropriate fees. This process helps maintain transparency in property transactions and ensures that all legal requirements are met.

Frequently asked questions

What is the current guideline value of Kannagi Street (Ward-21)?

The current guideline value of Kannagi Street (Ward-21) is Rs 660 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2012 to Rs 402 per sq.ft in 2017, then increased to Rs 600 per sq.ft in 2023, and finally to Rs 660 per sq.ft in 2024.

What is the land classification for Kannagi Street (Ward-21)?

The land classification for Kannagi Street (Ward-21) is Residential Class II Type - I.

Where can I find the Sub Registrar Office for Kannagi Street (Ward-21)?

The Chengleput Joint II Sub Registrar Office covers Kannagi Street (Ward-21) and is located at 10, Kancheepuram Main Road, Chengalpattu 603 002.

How is stamp duty calculated for properties on Kannagi Street (Ward-21)?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current rate, the stamp duty would be Rs 46,200.