Guideline Value for KANNAKI STREET (N)

Kannaki Street (N) guideline value

The current guideline value of Kannaki Street (N) is Rs 1,320 per sq.ft. This street is located in Sattamangalam village, 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 undergone several revisions over the years. The 2012 revision set the value at Rs 1,200 per sq.ft, which was then reduced to Rs 804 per sq.ft in the 2017 revision, marking a decrease of 33%. However, this value saw a significant increase to Rs 1,200 per sq.ft in the 2023 revision, followed by another increase to Rs 1,320 per sq.ft in the 2024 revision, reflecting a rise of 10%.

For the periods without a registered figure, such as in 2002, 2003, and 2007, the register has no figure for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Sattamangalam

In Sattamangalam, there are 425 streets under the Chengleput Joint II SRO, with a 2024 guideline value ranging from Rs 440 to Rs 2,200 per sq.ft. The median value for these streets is Rs 1,100 per sq.ft, placing Kannaki Street (N) above this median with its current value 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 would be Rs 13,20,000. The stamp duty at 7% would amount to Rs 92,400, and the registration fee at 2% would be Rs 26,400, bringing the total 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 more information on calculating fees, 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 details.

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

The guideline value is a critical factor in the registration process when buying or selling property in Sattamangalam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value is used to calculate the applicable fees, ensuring that both the buyer and seller are aware of the financial obligations involved in the transaction. This process helps maintain transparency and consistency in property dealings.

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 back 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, indicating its designation for residential purposes within the area.

What is the median guideline value in Sattamangalam?

The median guideline value for the 425 streets in Sattamangalam is Rs 1,100 per sq.ft, with Kannaki Street (N) being above this median at Rs 1,320 per sq.ft.

Where is the Chengleput Joint II Sub Registrar Office located?

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone.