Guideline Value for KANNAN STREET

Kannan Street guideline value

The current guideline value of Kannan Street, located in Ekkaduthangal village, is Rs 3,520 per sq.ft, effective from 1 July 2024. This street falls under the Chennai South Joint I SRO and is classified as Residential Class III Type - I.

How the guideline value of Kannan Street has changed

The guideline value for Kannan Street has undergone several revisions since 2002. The earliest available figure is from 2002, which was Rs 235 per sq.ft. This increased to Rs 271 per sq.ft in 2003, marking a change of +15%. The value saw significant growth in the following years, reaching Rs 700 per sq.ft in 2007 (+158%), then jumping to Rs 3,200 per sq.ft in 2012 (+357%). However, it decreased to Rs 2,144 per sq.ft in 2017, reflecting a decline of -33% from the previous revision.

From 2017 to 2023, the guideline value rose sharply to Rs 3,200 per sq.ft, an increase of +49%. The most recent revision in 2024 set the value at Rs 3,520 per sq.ft, which is a +10% rise from the 2023 figure. There are no figures available for the years not listed in the register for this street.

Guideline values in Ekkaduthangal

In Ekkaduthangal, there are 190 streets under the Chennai South Joint I SRO that have a 2024 guideline value ranging from Rs 3,080 to Rs 8,800 per sq.ft, with a median value of Rs 4,620 per sq.ft. Kannan Street's 2024 guideline value is below this median.

• Kannagi Street: Rs 3,520 per sq.ft (2024)
• Kannadasan Street: Rs 3,080 per sq.ft (2024)
• Karpa Vinayagar Koil Street: Rs 3,520 per sq.ft (2024)
• Kamatchiamman Koil Street: Rs 3,520 per sq.ft (2024)
• Karunai Street: Rs 3,080 per sq.ft (2024)
• Kasthuribai Gandhi Nagar: Rs 4,620 per sq.ft (2024)

Stamp duty and registration fee for property in Kannan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,520 per sq.ft, the total guideline value would be Rs 35,20,000. The stamp duty at 7% would amount to Rs 2,46,400, and the registration fee at 2% would be Rs 70,400, bringing the total to Rs 3,16,800. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kannan Street?

Kannan Street is covered by the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Ekkaduthangal. It serves as the basis for calculating the stamp duty and registration fees that buyers must pay during the registration process. The guideline value is determined by the local authorities and is updated periodically to reflect changes in the real estate market.

When a property is bought or sold, the guideline value ensures that the transaction is recorded at a fair value, which helps in maintaining transparency in property dealings. Buyers and sellers should be aware of the current guideline value to ensure compliance with local regulations during property registration.

Frequently asked questions

What is the current guideline value of Kannan Street?

The current guideline value of Kannan Street is Rs 3,520 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen significant changes, increasing from Rs 235 per sq.ft in 2002 to Rs 3,520 per sq.ft in 2024, reflecting an overall increase of +1398% over the years.

What is the classification of Kannan Street?

Kannan Street is classified as Residential Class III Type - I under the Chennai South Joint I SRO.

What are the stamp duty and registration fees for properties on Kannan Street?

For a property valued at Rs 35,20,000, the stamp duty would be Rs 2,46,400, and the registration fee would be Rs 70,400, totaling Rs 3,16,800.

Where can I find the Sub Registrar Office for Kannan Street?

The Sub Registrar Office covering Kannan Street is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.