Guideline Value for KANNAPPAN STREET

Kannappan Street guideline value

The current guideline value of Kannappan Street in Vadaagaram village, under the Kodambakkam SRO, is Rs 6,000 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class I Type - I land classification.

How the guideline value of Kannappan Street has changed

The guideline value for Kannappan Street has seen several revisions over the years. In 2002, the value was Rs 843 per sq.ft, which increased to Rs 933 per sq.ft in 2003, marking an 11% rise. The value further rose to Rs 1,350 per sq.ft in 2007, a significant increase of 45% from the previous year. The 2012 revision saw the value at Rs 5,500 per sq.ft, which was a 307% increase from 2007. However, this was followed by a decrease to Rs 3,685 per sq.ft in 2017, reflecting a 33% drop.

In 2023, the guideline value was revised to Rs 5,500 per sq.ft, which then increased to the current rate of Rs 6,000 per sq.ft in 2024, representing a 9% increase. Overall, from 2002 to 2024, the guideline value has increased by 612%.

Guideline values in Vadaagaram

In Vadaagaram, there are 78 streets under the Kodambakkam SRO with a 2024 guideline value ranging from Rs 3,300 to Rs 16,500 per sq.ft. The median value is Rs 6,600 per sq.ft, placing Kannappan Street's 2024 figure below this median.

• Kanniyappan Street: Rs 3,800 per sq.ft (2024)
• Jawahar Pakkam: Rs 3,300 per sq.ft (2024)
• Indira Gandhi Nagar Main Road: Rs 3,800 per sq.ft (2024)
• Indira Gandhi Nagar 8th Street: Rs 3,800 per sq.ft (2024)
• Indira Gandhi Nagar 7th Street: Rs 3,800 per sq.ft (2024)
• Indira Gandhi Nagar 6th Street: Rs 3,800 per sq.ft (2024)

Stamp duty and registration fee for property in Kannappan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 6,000 per sq.ft, the total guideline value amounts to Rs 60,00,000. The stamp duty at 7% would be Rs 4,20,000, and the registration fee at 2% would be Rs 1,20,000, bringing the total fees to Rs 5,40,000. Duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kannappan Street?

The Sub Registrar Office that covers Kannappan 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 Vadaagaram

The guideline value plays a crucial role during property transactions in Vadaagaram. It is used to determine the stamp duty and registration fees that must be paid at the time of registration. Buyers and sellers must be aware of the current guideline value to ensure compliance with local regulations.

When a property is sold, the guideline value is considered for calculating the applicable fees, and it is essential for both parties to agree on this value to avoid disputes. The guideline value helps maintain transparency in property transactions within the region.

Frequently asked questions

What is the current guideline value of Kannappan Street?

The current guideline value of Kannappan Street is Rs 6,000 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 843 per sq.ft in 2002 to Rs 6,000 per sq.ft in 2024, reflecting an overall increase of 612% over the years.

What are the other streets in Vadaagaram and their guideline values?

Other streets in Vadaagaram include Kanniyappan Street at Rs 3,800 per sq.ft, Jawahar Pakkam at Rs 3,300 per sq.ft, and several streets in Indira Gandhi Nagar, all at Rs 3,800 per sq.ft for 2024.

What fees are associated with buying property in Kannappan Street?

When buying property in Kannappan Street, the stamp duty is charged at 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total fees would amount to Rs 5,40,000.

Where is the Sub Registrar Office for Kannappan Street located?

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