Guideline Value for KANNAPPAN STREET

Kannappan Street guideline value

The current guideline value of Kannappan Street is Rs 1,100 per sq.ft, effective from 1 July 2024. This street is located in Selaiyur village, under the Selaiyur SRO, and is classified as Residential Class IV Type - I.

How the guideline value of Kannappan Street has changed

The guideline value for Kannappan Street has seen several revisions over the years. In 2007, the value was Rs 450 per sq.ft, which increased significantly to Rs 1,000 per sq.ft in both the 2012 and 2023 revisions, showing no change during that period. The most recent revision in 2024 set the value at Rs 1,100 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from the 2007 revision to the 2024 revision, there has been a substantial increase of 144%. Notably, there are no figures available for the years 2002, 2003, and 2017 in the register for this street.

Guideline values in Selaiyur

In Selaiyur, there are 478 streets under the Selaiyur SRO with a 2024 guideline value ranging from Rs 850 to Rs 6,500 per sq.ft, and the median value is Rs 2,200 per sq.ft. The guideline value of Kannappan Street is below this median.

• Kannan Street: Rs 1,300 per sq.ft (2024)
• Kannaki Street: Rs 1,600 per sq.ft (2024)
• Kannaiyapuram: Rs 850 per sq.ft (2024)
• Karnam Street: Rs 2,400 per sq.ft (2024)
• Karnam Street Ext: Rs 2,400 per sq.ft (2024)
• Kannadasan Street: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Kannappan Street

For a 1,000 sq.ft plot at the current rate of Rs 1,100 per sq.ft, the guideline value would be Rs 11,00,000. The stamp duty at 7% would amount to Rs 77,000, and the registration fee at 2% would be Rs 22,000, totaling Rs 99,000. Please note that the duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kannappan Street?

The Sub Registrar Office that covers Kannappan Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Selaiyur, as it determines the minimum value at which a property can be registered. Buyers and sellers must be aware of the current guideline value to ensure compliance with registration requirements.

When a property is sold, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Kannappan Street?

The current guideline value of Kannappan Street is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 450 per sq.ft in 2007 to Rs 1,100 per sq.ft in 2024, reflecting an overall increase of 144% over the years.

What is the median guideline value in Selaiyur?

The median guideline value in Selaiyur is Rs 2,200 per sq.ft, which is higher than the current value of Kannappan Street.

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

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty and registration fees would amount to Rs 99,000.

Which office handles registrations for Kannappan Street?

The Selaiyur Sub Registrar Office handles registrations for Kannappan Street, located at No.36, Bharathmatha Salai, East Tambaram, Chennai.