Guideline Value for KANNAGI STREET

Kannagi Street guideline value

The current guideline value of Kannagi Street is Rs 5,000 per sq.ft, effective from 1 July 2024. This street is located in Puliyur village, under the Kodambakkam SRO, and is classified as Residential Class III Type - I.

How the guideline value of Kannagi Street has changed

Since the 2002 revision, the guideline value of Kannagi Street has seen significant changes. In 2002, the value was Rs 750 per sq.ft, which increased to Rs 824 per sq.ft in 2003. The value continued to rise to Rs 1,200 per sq.ft in 2007, then jumped to Rs 4,600 per sq.ft in 2012, before dropping to Rs 3,082 per sq.ft in 2017. The most recent revision in 2024 set the value at Rs 5,000 per sq.ft, marking an increase of 62% from 2017.

Notably, the register has no figure for this street for the year 2023. The overall change from 2002 to 2024 shows an increase of 567%, reflecting the fluctuations over the years.

Guideline values in Puliyur

In Puliyur, there are 648 streets under the Kodambakkam SRO that carry a 2024 guideline value, ranging from Rs 3,300 to Rs 14,300 per sq.ft, with a median value of Rs 5,800 per sq.ft. The guideline value of Kannagi Street is below this median.

• Kannadasan Street: Rs 6,300 per sq.ft (2024)
• Kannappa Street (Behind Ambika Empire): Rs 6,300 per sq.ft (2024)
• Kanniappan Street (Choolaimedu): Rs 4,400 per sq.ft (2024)
• Kanthappan Colony: Rs 5,000 per sq.ft (2024)
• Kamatchi Nagar: Rs 5,000 per sq.ft (2024)
• Karnan Lane: Rs 5,000 per sq.ft (2024)

Stamp duty and registration fee for property in Kannagi Street

For a 1,000 sq.ft plot at the current rate of Rs 5,000 per sq.ft, the guideline value totals Rs 50,00,000. The stamp duty at 7% would be Rs 3,50,000, and the registration fee at 2% would amount to Rs 1,00,000, making the total Rs 4,50,000. The duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kannagi Street?

The Sub Registrar Office that covers Kannagi Street is the Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Puliyur, as it establishes the minimum value for property registration. Buyers and sellers must consider this value when determining the sale price and calculating associated fees.

When registering a property, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Kannagi Street?

The current guideline value of Kannagi Street is Rs 5,000 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 750 per sq.ft in 2002 to Rs 5,000 per sq.ft in 2024, reflecting an overall increase of 567% over the years.

What is the role of the Kodambakkam SRO?

The Kodambakkam SRO is responsible for property registration in the area, ensuring that all transactions comply with legal requirements and that the guideline values are applied correctly.

How is stamp duty calculated for properties in Kannagi Street?

Stamp duty for properties in Kannagi Street is calculated at 7% of the guideline value or the sale price, whichever is higher. This fee is essential for property registration.

Where can I find more information about my Sub Registrar Office?

You can find more information about your Sub Registrar Office by visiting the official website and using the provided link to find your SRO.