Guideline Value for KANNAKI STREET

Kannaki Street guideline value

The current guideline value of Kannaki Street in Arumbakkam village, under the Kodambakkam SRO, is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is classified as Residential Class IV Type - II.

How the guideline value of Kannaki Street has changed

The guideline value of Kannaki Street has undergone several revisions over the years. In the 2007 revision, the value was Rs 950 per sq.ft, which increased significantly to Rs 4,000 per sq.ft in the 2012 revision. However, in the 2017 revision, it decreased to Rs 2,680 per sq.ft, before rising again to Rs 4,000 per sq.ft in the 2023 revision. The current value of Rs 4,400 per sq.ft reflects a 10% increase from the 2023 figure.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 363%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Arumbakkam

In Arumbakkam, there are 391 streets under the Kodambakkam SRO that have a 2024 guideline value ranging from Rs 3,300 to Rs 16,500 per sq.ft, with a median value of Rs 6,000 per sq.ft. Kannaki Street's 2024 guideline value is below this median.

• Kannan Bala Nagar: Rs 5,500 per sq.ft (2024)
• Kannappan Nagar: Rs 5,300 per sq.ft (2024)
• Kannayiram Street: Rs 3,300 per sq.ft (2024)
• Kalkinagar Main Road: Rs 5,000 per sq.ft (2024)
• Kalki Nagar I St Street: Rs 4,700 per sq.ft (2024)
• Kalki Nagar II Nd Street: Rs 4,700 per sq.ft (2024)

Stamp duty and registration fee for property in Kannaki Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value would be Rs 44,00,000. The stamp duty at 7% would amount to Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, bringing the total fees to Rs 3,96,000. Please note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kannaki Street?

The Sub Registrar Office covering Kannaki 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 Arumbakkam

The guideline value is an essential factor in the registration process when buying or selling property in Arumbakkam. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is registered, the guideline value is used to calculate the stamp duty and registration fees, ensuring that these costs are based on a standardized valuation rather than potentially fluctuating market prices.

Frequently asked questions

What is the current guideline value of Kannaki Street?

The current guideline value of Kannaki Street is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen significant changes, from Rs 950 per sq.ft in 2007 to Rs 4,400 per sq.ft in 2024, reflecting an overall increase of 363% over the years.

What is the land classification for Kannaki Street?

Kannaki Street is classified as Residential Class IV Type - II, indicating its designation for residential use.

Where can I find the Kodambakkam Sub Registrar Office?

The Kodambakkam Sub Registrar Office is located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value incurs a total fee of Rs 3,96,000.