Guideline Value for KANNI KOIL FIRST CROSS STREET

Kanni Koil First Cross Street guideline value

The current guideline value of Kanni Koil First Cross Street is Rs 1,650 per sq.ft, effective from 1 July 2024. This street is located in Ottiyampakkam village under the Selaiyur Sub Registrar Office (SRO). The land classification for this area is Residential Class II Type - I.

How the guideline value of Kanni Koil First Cross Street has changed

The guideline value for Kanni Koil First Cross Street has seen several revisions over the years. The 2012 revision set the value at Rs 1,500 per sq.ft, which remained unchanged until the 2017 revision, where it dropped to Rs 1,005 per sq.ft. This was a decrease of 33%. Subsequently, the 2023 revision increased the value to Rs 1,500 per sq.ft, and the latest 2024 revision raised it further to Rs 1,650 per sq.ft, marking a 10% increase from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. The 2017 revision did not have a figure for this street, nor did the revisions in 2002, 2003, and 2007, as the register has no figures for these years.

Guideline values in Ottiyampakkam

In Ottiyampakkam, there are 88 streets under the Selaiyur SRO that carry a 2024 guideline value, ranging from Rs 1,300 to Rs 4,300 per sq.ft. The median guideline value for these streets is Rs 1,950 per sq.ft, indicating that Kanni Koil First Cross Street's current value is below the median.

• Kanni Koil Second Cross Street: Rs 1,650 per sq.ft (2024)
• Kanni Koil Street: Rs 1,650 per sq.ft (2024)
• Karanai Road: Rs 2,200 per sq.ft (2024)
• Kambar Street: Rs 1,300 per sq.ft (2024)
• Kamatchi Nagar: Rs 1,300 per sq.ft (2024)
• Kolatchiamman Koil Street: Rs 1,950 per sq.ft (2024)

Stamp duty and registration fee for property in Kanni Koil First Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value amounts to Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, leading to a total of Rs 1,48,500. It is important to note that duty is charged on the higher of the guideline value and the sale price.

You can also use the stamp duty and registration fee calculator for more accurate calculations.

Which Sub Registrar Office covers Kanni Koil First Cross Street?

The Kanni Koil First Cross Street is covered by 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. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor during the registration of property transactions in Ottiyampakkam. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring a standardized approach to property valuation.

When buying or selling property, the guideline value influences the amount of stamp duty and registration fees that need to be paid. Buyers should be aware that these fees are calculated based on the higher of the guideline value or the sale price of the property.

Frequently asked questions

What is the current guideline value of Kanni Koil First Cross Street?

The current guideline value of Kanni Koil First Cross Street is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,650 per sq.ft in 2024, reflecting an overall increase of 10% over this period.

What is the land classification for Kanni Koil First Cross Street?

The land classification for Kanni Koil First Cross Street is Residential Class II Type - I, indicating its suitability for residential development.

Where can I find the Selaiyur Sub Registrar Office?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.

How is stamp duty calculated for properties in Kanni Koil First Cross Street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a property with a guideline value of Rs 16,50,000 would incur a stamp duty of Rs 1,15,500.