Guideline Value for KANNI KOIL STREET

Kanni Koil Street guideline value

The current guideline value of Kanni Koil Street is Rs 2,160 per sq.ft, effective from 1 July 2024. This street is located in Nemilicherry village, under the Pallavaram SRO, and is classified as Residential Class II Type - I.

How the guideline value of Kanni Koil Street has changed

The guideline value for Kanni Koil Street has undergone several revisions over the years. The earliest recorded figure is from 2012, where it was Rs 2,000 per sq.ft. This was followed by a decrease to Rs 1,340 per sq.ft in 2017. In 2023, the value increased to Rs 2,000 per sq.ft, and the most recent revision in 2024 set the value at Rs 2,160 per sq.ft, reflecting an 8% increase from the previous year.

Overall, from 2012 to 2024, the guideline value has increased by 8%. It is important to note that there are no figures available for the years 2002, 2003, and 2007 for Kanni Koil Street in the register.

Guideline values in Nemilicherry

Nemilicherry village contains 172 streets under the Pallavaram SRO, with guideline values ranging from Rs 1,100 to Rs 3,300 per sq.ft. The median value is Rs 2,160 per sq.ft, which is equal to the current guideline value of Kanni Koil Street.

• Karigalan Street: Rs 2,160 per sq.ft (2024)
• Kannammal Nagar: Rs 2,160 per sq.ft (2024)
• Kambar Street: Rs 2,200 per sq.ft (2024)
• Kattabomman Street: Rs 2,160 per sq.ft (2024)
• Kavery Street: Rs 2,160 per sq.ft (2024)
• Kamaraj Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Kanni Koil Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,160 per sq.ft, the total guideline value amounts to Rs 21,60,000. The stamp duty at 7% would be Rs 1,51,200, and the registration fee at 2% would be Rs 43,200, bringing the total cost for these fees to Rs 1,94,400. 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 Kanni Koil Street?

Kanni Koil Street is covered by the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, 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 Nemilicherry

The guideline value is a critical factor during the registration process of property transactions in Nemilicherry. It serves as a benchmark for determining the minimum price at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps in assessing the fair value of the property, which is essential for both buyers and sellers. This value is taken into account to calculate the applicable taxes and fees, making it an important aspect of property transactions in the area.

Frequently asked questions

What is the current guideline value of Kanni Koil Street?

The current guideline value of Kanni Koil Street is Rs 2,160 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then back to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,160 per sq.ft in 2024.

What is the land classification for Kanni Koil Street?

Kanni Koil Street is classified as Residential Class II Type - I, indicating its suitability for residential development.

Where can I find the Sub Registrar Office for Kanni Koil Street?

The Pallavaram Sub Registrar Office covers Kanni Koil Street and is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

How is the guideline value used in property transactions?

The guideline value is used to determine the minimum price for property registration and helps calculate the stamp duty and registration fees. It ensures that the government receives due revenue from property transactions.