Guideline Value for KANNI KOIL STREET

Kanni Koil Street guideline value

The current guideline value of Kanni Koil Street is Rs 2,900 per sq.ft, effective from 1 July 2024. This street is located in Chitthalapakkam village and falls under the Selaiyur SRO with a land classification of Industries Type - I.

How the guideline value of Kanni Koil Street has changed

The guideline value for Kanni Koil Street has seen several revisions over the years. The earliest recorded revision was in 2012, where the guideline value was Rs 2,700 per sq.ft. This figure remained unchanged until the next revision in 2017, which saw a decrease to Rs 1,809 per sq.ft. Following this, the value increased significantly to Rs 2,700 per sq.ft in 2023 and then to Rs 2,900 per sq.ft in 2024.

Between these revisions, the changes were notable. From 2012 to 2017, the value decreased by 33%. However, from 2017 to 2023, there was a substantial increase of 49%. The most recent change from 2023 to 2024 reflects a 7% increase, bringing the overall change from 2012 to 2024 to a modest 7%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Chitthalapakkam

In Chitthalapakkam, there are 107 streets under the Selaiyur SRO that carry a 2024 guideline value, ranging from Rs 1,300 to Rs 5,000 per sq.ft. The median guideline value for these streets is Rs 2,900 per sq.ft, which matches the current value of Kanni Koil Street.

• Kambar Street: Rs 1,950 per sq.ft (2024)
• Kamaraj Street: Rs 1,950 per sq.ft (2024)
• Kamaraj Nagar: Rs 2,400 per sq.ft (2024)
• Kamaraj Avenue: Rs 2,700 per sq.ft (2024)
• Kalaingar Street: Rs 1,950 per sq.ft (2024)
• Kp Springs: Rs 3,350 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 2,900 per sq.ft, the total guideline value would be Rs 29,00,000. The stamp duty at 7% would amount to Rs 2,03,000, and the registration fee at 2% would be Rs 58,000, totaling Rs 2,61,000. It is important to note that 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 Kanni Koil Street?

The Sub Registrar Office that covers Kanni Koil 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, Chengalpattu registration zone. You can find your SRO for more information.

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

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

When buying or selling property, the guideline value is compared with the sale price. The higher of the two figures is used to calculate the applicable stamp duty and registration fees, ensuring compliance with the legal requirements set forth by the Registration Department.

Frequently asked questions

What is the current guideline value of Kanni Koil Street?

The current guideline value of Kanni Koil Street is Rs 2,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,700 per sq.ft in 2012 to Rs 1,809 per sq.ft in 2017, then increased to Rs 2,700 per sq.ft in 2023, and finally to Rs 2,900 per sq.ft in 2024.

What is the median guideline value in Chitthalapakkam?

The median guideline value in Chitthalapakkam for 2024 is Rs 2,900 per sq.ft, which is the same as the current guideline value for Kanni Koil Street.

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

For a property measuring 1,000 sq.ft at the current guideline value, the total guideline value would be Rs 29,00,000. The stamp duty would be Rs 2,03,000, and the registration fee would be Rs 58,000, totaling Rs 2,61,000.

Which office handles property registrations for Kanni Koil Street?

The Selaiyur Sub Registrar Office handles property registrations for Kanni Koil Street, located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.