Guideline Value for KANNAYIRAM STREET

Kannayiram Street guideline value

The current guideline value of Kannayiram Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Arumbakkam village, under the Kodambakkam SRO, and is classified as Residential Class V Type - I.

How the guideline value of Kannayiram Street has changed

The guideline value for Kannayiram Street has seen several revisions over the years. The earliest available figure is from 2002, where the value was Rs 462 per sq.ft. This increased to Rs 509 per sq.ft in 2003, marking a change of +10%. The value then rose significantly to Rs 700 per sq.ft in 2007, reflecting a +38% increase. Following this, in 2012, the value was Rs 3,000 per sq.ft, which was a notable increase of +329% from the previous revision. However, it decreased to Rs 2,010 per sq.ft in 2017, showing a decline of -33%.

In the subsequent revisions, the value increased to Rs 3,000 per sq.ft in 2023, a rise of +49%. The most recent revision in 2024 has set the guideline value at Rs 3,300 per sq.ft, representing a +10% increase from the previous year. There are no figures available for revisions other than those listed.

Guideline values in Arumbakkam

In Arumbakkam, there are 391 streets under the Kodambakkam SRO that carry a 2024 guideline value, ranging from Rs 3,300 to Rs 16,500 per sq.ft. The median value for these streets is Rs 6,000 per sq.ft, placing Kannayiram Street's 2024 figure below that median.

• Kannappan Nagar: Rs 5,300 per sq.ft (2024)
• Kannan Bala Nagar: Rs 5,500 per sq.ft (2024)
• Kannaki Street: Rs 4,400 per sq.ft (2024)
• Kavitha Street: Rs 4,400 per sq.ft (2024)
• Kalkinagar Main Road: Rs 5,000 per sq.ft (2024)
• Kalki Nagar I St Street: Rs 4,700 per sq.ft (2024)

Stamp duty and registration fee for property in Kannayiram Street

For a 1,000 sq.ft plot at the current rate of Rs 3,300 per sq.ft, the guideline value amounts to Rs 33,00,000. The stamp duty, charged at 7%, would be Rs 2,31,000, while the registration fee at 2% would be Rs 66,000. Therefore, the total cost for these fees would be Rs 2,97,000. It is important to note that the 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 Kannayiram Street?

The Sub Registrar Office that covers Kannayiram 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 Arumbakkam

The guideline value plays a crucial role in the registration process of property transactions in Arumbakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duties and registration fees.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees. Buyers should be aware that these fees are based on the higher of the guideline value or the sale price, which can impact the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Kannayiram Street?

The current guideline value of Kannayiram Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 462 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, representing an overall increase of +614%.

What is the land classification for Kannayiram Street?

Kannayiram Street is classified as Residential Class V Type - I, indicating its use for residential purposes.

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

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

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current rate, the total fees would amount to Rs 2,97,000.