Guideline Value for KANNAKKAR STREET

Kannakkar Street guideline value

The current guideline value of Kannakkar Street, located in Thiruvottiyur village under the Thiruvottiyur SRO, is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is classified as Residential Special Type - I.

How the guideline value of Kannakkar Street has changed

Over the years, the guideline value of Kannakkar Street has seen several revisions. The earliest recorded figure is from 2007, where the value was Rs 900 per sq.ft. This increased significantly to Rs 3,000 per sq.ft in 2012, marking a rise of 233%. However, it then dropped to Rs 2,010 per sq.ft in 2017, a decrease of 33%. The value rebounded to Rs 3,000 per sq.ft in 2023, and currently stands at Rs 3,300 per sq.ft from the 2024 revision, reflecting a 10% increase from the previous year.

There are no recorded figures for the years 2002 and 2003 in the register for this street. Overall, from 2007 to 2024, the guideline value has increased by 267%.

Guideline values in Thiruvottiyur

In Thiruvottiyur, there are 177 streets under the Thiruvottiyur SRO that have a 2024 guideline value ranging from Rs 1,300 to Rs 8,600 per sq.ft. The median value is Rs 3,300 per sq.ft, which is equal to the current guideline value of Kannakkar Street.

• Kanakkar Lane: Rs 3,300 per sq.ft (2024)
• Kambar Street: Rs 3,300 per sq.ft (2024)
• Karnikar Street(Kannkar Street): Rs 3,300 per sq.ft (2024)
• Kamaraj Nagar: Rs 2,400 per sq.ft (2024)
• Karunikar Street: Rs 3,300 per sq.ft (2024)
• Kamala Nagar: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Kannakkar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty is charged at 7%, which totals Rs 2,31,000, and the registration fee at 2% amounts to Rs 66,000. Together, these fees total Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Kannakkar Street?

The Sub Registrar Office that covers Kannakkar Street is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for further assistance.

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

The guideline value is a critical factor in the registration process when buying or selling property in Thiruvottiyur. It serves as a benchmark for determining the minimum value at which property transactions can be registered, ensuring transparency and standardization in property dealings.

When a property is sold, 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 in the area.

Frequently asked questions

What is the current guideline value of Kannakkar Street?

The current guideline value of Kannakkar Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 900 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 267%.

What are the stamp duty and registration fees for property in Kannakkar Street?

The stamp duty is 7% and the registration fee is 2%. For a property valued at Rs 33,00,000, the total fees amount to Rs 2,97,000.

Which Sub Registrar Office covers Kannakkar Street?

The Thiruvottiyur Sub Registrar Office covers Kannakkar Street, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.

What is the land classification of Kannakkar Street?

Kannakkar Street is classified as Residential Special Type - I.