Guideline Value for KANNAKI STREET (N)

Kannaki Street (N) guideline value

The current guideline value of Kannaki Street (N) in Panangottur village is Rs 1,320 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 decreased to Rs 804 per sq.ft. Subsequently, the value increased significantly to Rs 1,200 per sq.ft in the 2023 revision, and then rose again to Rs 1,320 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

From 2017 to 2023, the guideline value increased by 49%. Overall, from the 2012 revision to the 2024 revision, the guideline value has seen a 10% increase. Notably, the register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Panangottur

In Panangottur, there are 419 streets under the Chengleput Joint II SRO, with guideline values ranging from Rs 440 to Rs 2,200 per sq.ft. The median value for these streets is Rs 990 per sq.ft, positioning Kannaki Street (N) above this median with its 2024 figure of Rs 1,320 per sq.ft.

• Kannagi Street (Ward -5): 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)
• Kanniamman Koil Street (Ward -18): Rs 550 per sq.ft (2024)
• Kannadasan Street, 3rd Lane (Ward -7): Rs 1,320 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 1,320 per sq.ft, the total guideline value amounts to Rs 13,20,000. The stamp duty, charged at 7%, would be Rs 92,400, while the registration fee at 2% would be Rs 26,400, bringing the total cost for these fees to Rs 1,18,800. It is important to note that the 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 Kannaki Street (N)?

The Sub Registrar Office that covers Kannaki Street (N) 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 plays a crucial role in the registration process when buying or selling property in Panangottur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is documented at a fair value.

When registering a property, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from 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 1,320 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 804 per sq.ft in 2017, then to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,320 per sq.ft in 2024.

What is the land classification for Kannaki Street (N)?

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

What are the stamp duty and registration fees for property on Kannaki Street (N)?

For a property valued at Rs 13,20,000, the stamp duty would be Rs 92,400 and the registration fee would be Rs 26,400, totaling Rs 1,18,800.

Where is the Sub Registrar Office for Kannaki Street (N)?

The Sub Registrar Office for Kannaki Street (N) is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, under the Chengalpattu registration zone.