Guideline Value for KANNAKI STREET (N)

Kannaki Street (N) guideline value

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

How the guideline value of Kannaki Street (N) has changed

The guideline value for Kannaki Street (N) has seen several revisions over the years. The 2012 revision set the value at Rs 1,200 per sq.ft, which remained unchanged until the 2017 revision, where it dropped to Rs 804 per sq.ft. This was followed by a significant increase in the 2023 revision to Rs 1,200 per sq.ft, and then a further rise to the current value of Rs 1,321 per sq.ft in 2024, marking a 10% increase from the previous year.

From the 2017 revision to the 2023 revision, there was a notable increase of 49%. Overall, comparing the 2012 revision to the current 2024 figure, there has been an increase of 10%. It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

Guideline values in Ninna Karai

In Ninna Karai, there are 449 streets under the Chengleput Joint II SRO that carry a 2024 guideline value, ranging from Rs 440 to Rs 3,500 per sq.ft. The median value for these streets is Rs 1,100 per sq.ft, placing Kannaki Street (N) above this median at Rs 1,321 per sq.ft.

• Kannagi Street (Ward -5): 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)
• Kanniamman Koil Street (Ward -18): Rs 660 per sq.ft (2024)
• Kannadasan Street, 3rd Lane (Ward -7): Rs 1,321 per sq.ft (2024)

Stamp duty and registration fee for property in Kannaki Street (N)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,321 per sq.ft, the total guideline value would be Rs 13,21,000. The stamp duty, charged at 7%, would amount to Rs 92,470, and the registration fee, at 2%, would be Rs 26,420. Together, the total cost for these fees would be Rs 1,18,890. It is essential to note that duty is charged on the higher of the guideline value and the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kannaki Street (N)?

The Chengleput Joint II Sub Registrar Office covers Kannaki Street (N). 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

The guideline value is a crucial factor in the registration process of property transactions in Ninna Karai. It helps determine the stamp duty and registration fees that buyers must pay when purchasing property in the area.

When a property is sold, the guideline value serves as a benchmark for the transaction value, ensuring that the fees collected are based on a standardized valuation. This practice helps maintain transparency and consistency in property transactions.

Frequently asked questions

What is the current guideline value of Kannaki Street (N)?

The current guideline value of Kannaki Street (N) 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 increased 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 Kannaki Street (N)?

Kannaki Street (N) is classified as Residential Special Type - V under the Chengleput Joint II SRO.

Where can I find the Chengleput Joint II Sub Registrar Office?

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Tamil Nadu.

How is stamp duty calculated for properties in Ninna Karai?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. It is generally charged at 7% of the guideline value.