Guideline Value for KANNAGI STREET

Kannagi Street guideline value

The current guideline value of Kannagi Street is Rs 550 per sq.ft, effective from 1 July 2024. This street is located in Thirukkachur - 1 village under the Chengleput Joint II SRO and is classified as Residential Class I Type - II.

How the guideline value of Kannagi Street has changed

The guideline value for Kannagi Street has undergone several revisions over the years. In 2012, the value was set at Rs 500 per sq.ft. This figure remained unchanged until 2017, when it decreased to Rs 335 per sq.ft. Following this, the value increased significantly to Rs 500 per sq.ft in 2023, and then rose again to Rs 550 per sq.ft in 2024, marking a 10% increase from the previous year.

From 2012 to 2017, the value saw a decrease of 33%. However, from 2017 to 2023, there was a substantial increase of 49%. Overall, comparing the values from 2012 to 2024, there has been a 10% increase. The register has no figures for the years 2002, 2003, and 2007 regarding this street.

Guideline values in Thirukkachur - 1

In Thirukkachur - 1, there are 86 streets under the Chengleput Joint II SRO with a 2024 guideline value ranging from Rs 385 to Rs 3,300 per sq.ft. The median value for these streets is Rs 660 per sq.ft, indicating that the guideline value for Kannagi Street is below this median.

• Kambar Street: Rs 550 per sq.ft (2024)
• Kamatchi Ambal Nagar: Rs 660 per sq.ft (2024)
• Kamaraj Avenue: Rs 550 per sq.ft (2024)
• Kasthuri Nagar: Rs 1,474 per sq.ft (2024)
• Kothari Nagar Phase - 3: Rs 550 per sq.ft (2024)
• Kothari Nagar Phase - I: Rs 550 per sq.ft (2024)

Stamp duty and registration fee for property in Kannagi Street

For a 1,000 sq.ft plot at the current guideline value of Rs 550 per sq.ft, the total guideline value would be Rs 5,50,000. The stamp duty at 7% would amount to Rs 38,500, and the registration fee at 2% would be Rs 11,000, bringing the total fees to Rs 49,500. 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 information.

Which Sub Registrar Office covers Kannagi Street?

The Sub Registrar Office that covers Kannagi Street 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 details.

How the guideline value is used when you buy or sell in Thirukkachur - 1

The guideline value is a crucial factor during property registration in Thirukkachur - 1. It helps determine the stamp duty and registration fees that must be paid when a property is bought or sold, ensuring that the transaction is recorded accurately in the government records.

When you engage in a property transaction, the guideline value serves as a benchmark for assessing the property's worth. It is essential for both buyers and sellers to be aware of the current guideline value to ensure compliance with registration requirements and to calculate the associated fees.

Frequently asked questions

What is the current guideline value of Kannagi Street?

The current guideline value of Kannagi Street is Rs 550 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen various changes, with the most recent increase of 10% from Rs 500 per sq.ft in 2023 to Rs 550 per sq.ft in 2024. The value decreased from Rs 500 per sq.ft in 2012 to Rs 335 per sq.ft in 2017 before rising again.

What is the land classification for Kannagi Street?

Kannagi Street is classified as Residential Class I Type - II, indicating its suitability for residential development.

Where can I find the Chengleput Joint II SRO?

The Chengleput Joint II SRO is located at 10, Kancheepuram Main Road, Chengalpattu 603 002. You can find more details through the provided links.

What fees are associated with buying property on Kannagi Street?

When buying property on Kannagi Street, the fees include stamp duty at 7% and a registration fee at 2% of the guideline value. For example, for a 1,000 sq.ft plot, the total fees would amount to Rs 49,500.