Guideline Value for KANNAKI STREET

Kannaki Street guideline value

The current guideline value of Kannaki Street in Perungudi village, under the Neelankarai SRO, is Rs 2,800 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class III Type - I land classification.

How the guideline value of Kannaki Street has changed

The guideline value for Kannaki Street has undergone several revisions over the years. In 2002, the value was Rs 214 per sq.ft, which increased to Rs 650 per sq.ft in 2003, marking a significant rise of 204%. The value continued to rise, reaching Rs 800 per sq.ft in 2007, a 23% increase from the previous revision. In 2012, the value was Rs 2,500 per sq.ft, reflecting a substantial increase of 213%. However, it saw a decrease of 33% to Rs 1,675 per sq.ft in 2017. The value then rose to Rs 2,500 per sq.ft in 2023, and currently stands at Rs 2,800 per sq.ft in 2024, representing a 12% increase.

Overall, from 2002 to 2024, the guideline value has increased by 1208%. There are no figures available for the years not mentioned in the register for this street.

Guideline values in Perungudi

In Perungudi, there are 249 streets under the Neelankarai SRO, with 2024 guideline values ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median value is Rs 3,300 per sq.ft, and Kannaki Street's 2024 figure is below this median.

• Kanniah Street: Rs 2,200 per sq.ft (2024)
• Kambar Street: Rs 2,800 per sq.ft (2024)
• Karpaga Vinayagar Koil Street: Rs 3,300 per sq.ft (2024)
• Kamaraj Nagar Main Road: Rs 3,300 per sq.ft (2024)
• Kamaraj Nagar 9th Cross Street: Rs 3,300 per sq.ft (2024)
• Kamaraj Nagar 8th Cross Street: Rs 3,300 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 2,800 per sq.ft, the total guideline value would be Rs 28,00,000. The stamp duty at 7% would amount to Rs 1,96,000, and the registration fee at 2% would be Rs 56,000. Together, the total cost for duty and registration would be Rs 2,52,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kannaki Street?

The Sub Registrar Office that covers Kannaki Street is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Perungudi. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when transferring property ownership.

When you buy or sell property, the guideline value is used to ensure that the transaction is recorded at a fair value. This helps in maintaining transparency in property dealings and ensures compliance with local regulations.

Frequently asked questions

What is the current guideline value of Kannaki Street?

The current guideline value of Kannaki Street is Rs 2,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, starting from Rs 214 per sq.ft in 2002 to Rs 2,800 per sq.ft in 2024, reflecting an overall increase of 1208% over the years.

What is the land classification of Kannaki Street?

Kannaki Street falls under the Residential Class III Type - I land classification.

Where can I find more information about the Neelankarai SRO?

More information about the Neelankarai SRO can be found at the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

How is the stamp duty calculated for properties in Kannaki Street?

The stamp duty for properties in Kannaki Street is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot, the total stamp duty would be Rs 1,96,000 at the current guideline value.