Guideline Value for KANNAN STREET

Kannan Street guideline value

The current guideline value of Kannan Street in Pallikaranai village is Rs 1,320 per sq.ft, effective from 1 July 2024. This street falls under the Chennai South Joint I SRO and is classified as Residential Class IV Type - II.

How the guideline value of Kannan Street has changed

The guideline value of Kannan Street has seen significant changes over the years. The earliest recorded value was Rs 78 per sq.ft in 2002, which increased to Rs 100 per sq.ft in 2003, marking a rise of 28%. By 2007, the value surged to Rs 400 per sq.ft, reflecting a substantial increase of 300%. The 2012 revision brought the value to Rs 1,200 per sq.ft, a remarkable jump of 200% from the previous figure.

The most recent revision in 2024 set the guideline value at Rs 1,320 per sq.ft, which is a 10% increase from the 2012 figure. It is important to note that there are no recorded figures for Kannan Street in the revisions for 2017 and 2023.

Guideline values in Pallikaranai

Pallikaranai village has a total of 749 streets under the Chennai South Joint I SRO, with guideline values ranging from Rs 1,110 to Rs 8,580 per sq.ft. The median guideline value in this area is Rs 1,650 per sq.ft, making Kannan Street's 2024 value below the median.

• Kannadhasan Street: Rs 1,320 per sq.ft (2024)
• Kannadasan Nagar Extn: Rs 1,650 per sq.ft (2024)
• Kannadasan Nagar: Rs 1,650 per sq.ft (2024)
• Kannabiran Nagar Main Road: Rs 1,980 per sq.ft (2024)
• Kannabiran Nagar Ext: Rs 1,980 per sq.ft (2024)
• Kannabiran Nagar 1st Main Road: Rs 1,980 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 1,320 per sq.ft, the total guideline value amounts to Rs 13,20,000. The stamp duty at 7% would be Rs 92,400, and the registration fee at 2% would be Rs 26,400, bringing the total charges to Rs 1,18,800. It is important to note that duty is charged on the higher of the guideline value or the sale price.

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

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 Pallikaranai

The guideline value is a crucial factor in the registration process when buying or selling property in Pallikaranai. 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 registered, the authorities will assess the guideline value to ensure that the transaction complies with the legal requirements. It is essential for buyers and sellers to be aware of the current guideline value to avoid any discrepancies during registration.

Frequently asked questions

What is the current guideline value of Kannan Street?

The current guideline value of Kannan Street 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 increased from Rs 78 per sq.ft in 2002 to Rs 1,320 per sq.ft in 2024, showing an overall increase of 1592% over the years.

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

For a 1,000 sq.ft property, the total guideline value is Rs 13,20,000, with stamp duty at Rs 92,400 and registration fee at Rs 26,400, totaling Rs 1,18,800.

Which office handles registrations for Kannan Street?

The registrations for Kannan Street are handled 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.

Are there any recent revisions for Kannan Street's guideline value?

The most recent revision for Kannan Street's guideline value was in 2024. There are no recorded figures for the revisions in 2017 and 2023.