Guideline Value for KANNAPPAR STREET

Kannappar Street guideline value

The current guideline value of Kannappar Street in Ramapuram village, under the Chennai South Joint II SRO, is Rs 1,950 per sq.ft as per the 2024 revision effective from 1 July 2024. The land classification for this street is Residential Class III Type - I.

How the guideline value of Kannappar Street has changed

The guideline value for Kannappar Street has seen several revisions over the years. In 2002, the guideline value was Rs 245 per sq.ft, which increased to Rs 304 per sq.ft in 2003, marking a 24% increase. The value further rose to Rs 1,100 per sq.ft in 2007, reflecting a significant increase of 262%. By 2012, the value was Rs 1,750 per sq.ft, showing a 59% increase from the previous revision. However, it dropped to Rs 1,172 per sq.ft in 2017, a decrease of 33% from 2012. The value then climbed to Rs 1,750 per sq.ft in 2023, representing a 49% increase. The most recent revision in 2024 set the guideline value at Rs 1,950 per sq.ft, an 11% increase from the previous year.

There are no figures available for the revisions in years other than those listed. Therefore, the guideline values for Kannappar Street have fluctuated significantly from Rs 245 per sq.ft in 2002 to the current Rs 1,950 per sq.ft in 2024, resulting in an overall increase of 696% over this period.

Guideline values in Ramapuram

In Ramapuram, there are 394 streets under the Chennai South Joint II SRO that carry a 2024 guideline value, ranging from Rs 1,950 to Rs 6,600 per sq.ft. The median guideline value for these streets is Rs 3,100 per sq.ft, which means the guideline value of Kannappar Street is below that median.

• Kannammal Street 2nd Lane: Rs 3,100 per sq.ft (2024)
• Kannammal Street: Rs 3,100 per sq.ft (2024)
• Kannagi Street: Rs 2,750 per sq.ft (2024)
• Kanniyappan Street: Rs 2,750 per sq.ft (2024)
• Kannadhasan Nagar: Rs 3,100 per sq.ft (2024)
• Kannadasan Street: Rs 3,100 per sq.ft (2024)

Stamp duty and registration fee for property in Kannappar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,950 per sq.ft, the total guideline value would be Rs 19,50,000. The stamp duty at 7% would amount to Rs 1,36,500, and the registration fee at 2% would be Rs 39,000, bringing the total cost for stamp duty and registration fees to Rs 1,75,500. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Kannappar Street?

The Sub Registrar Office that covers Kannappar Street is the Chennai South Joint II 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 details.

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

The guideline value plays a crucial role when buying or selling property in Ramapuram. It is used to determine the stamp duty and registration fees that need to be paid during the registration process. Buyers and sellers must be aware of the current guideline value to ensure compliance with the legal requirements.

When a property is registered, the guideline value is considered as a benchmark for calculating the applicable fees. This ensures that both parties are aware of the financial obligations involved in the transaction, making the process transparent and standardized.

Frequently asked questions

What is the current guideline value of Kannappar Street?

The current guideline value of Kannappar Street is Rs 1,950 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 245 per sq.ft in 2002 to Rs 1,950 per sq.ft in 2024, showing an overall increase of 696% over the years.

What is the land classification for Kannappar Street?

Kannappar Street is classified as Residential Class III Type - I.

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

For a property valued at Rs 19,50,000, the stamp duty would be Rs 1,36,500 and the registration fee would be Rs 39,000, totaling Rs 1,75,500.

Where is the Sub Registrar Office for Kannappar Street located?

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