Guideline Value for KANNI KOIL STREET

Kanni Koil Street guideline value

The current guideline value of Kanni Koil Street is Rs 1,650 per sq.ft, effective from 1 July 2024. This street is located in Ottiyampakkam village, under the Selaiyur SRO. The land classification for this area is 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 most recent revision in 2024 set the value at Rs 1,650 per sq.ft, which is an increase from Rs 1,500 per sq.ft in the 2023 revision. This represents a 10% increase from the previous year. Looking back further, the 2017 revision recorded a value of Rs 1,005 per sq.ft, marking a significant increase of 49% to the 2023 figure. In 2012, the value was Rs 1,500 per sq.ft, which was a decrease of 33% from the 2017 revision. Overall, from 2012 to 2024, the guideline value has increased by 10%.

The register has no figures for the years 2002, 2003, and 2007 for this street.

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, with a median value of Rs 1,950 per sq.ft. Kanni Koil Street's 2024 guideline value is below this median.

• Kanni Koil Second Cross Street: Rs 1,650 per sq.ft (2024)
• Kanni Koil First Cross 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 Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value would be Rs 16,50,000. The stamp duty at 7% would amount to Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, making the total cost Rs 1,48,500. Please note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

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, 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 Ottiyampakkam

The guideline value is a crucial factor when buying or selling property in Ottiyampakkam. It serves as a benchmark for determining the minimum value at which a property can be registered. This value is used by the registration department to calculate the stamp duty and registration fees applicable to the transaction.

When a property is sold, the guideline value ensures that the transaction is recorded at a value that reflects the current market conditions, thus safeguarding the interests of both buyers and sellers. It is important for buyers to be aware of the guideline value to ensure they are making informed decisions during the property transaction process.

Frequently asked questions

What is the current guideline value of Kanni Koil Street?

The current guideline value of Kanni Koil 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 2023 to Rs 1,650 per sq.ft in 2024, an increase of 10%. From 2017 to 2023, it increased by 49% from Rs 1,005 per sq.ft to Rs 1,500 per sq.ft.

What is the land classification for Kanni Koil Street?

Kanni Koil Street is classified as Residential Class II Type - I, which indicates its suitability for residential purposes.

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 the stamp duty calculated for properties in Kanni Koil Street?

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