Guideline Value for KANNIAH STREET

Kanniah Street guideline value

The current guideline value of Kanniah Street in Perungudi village is Rs 2,200 per sq.ft, effective from 1 July 2024. This street falls under the Neelankarai SRO and is classified as Residential Class IV Type - I.

How the guideline value of Kanniah Street has changed

The guideline value of Kanniah Street has seen several revisions over the years. In 2002, the value was Rs 221 per sq.ft, which increased to Rs 300 per sq.ft in 2003, marking a 36% rise. The value then rose significantly to Rs 600 per sq.ft in 2007, reflecting a 100% increase. By 2012, the value was Rs 2,000 per sq.ft, which was a substantial increase of 233% from the previous revision. However, this value dropped by 33% to Rs 1,340 per sq.ft in 2017. The guideline value further increased to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,200 per sq.ft in 2024, which is a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has risen by 895%. There are no figures available for revisions in years other than those specified.

Guideline values in Perungudi

In Perungudi, there are 249 streets under the Neelankarai SRO, with guideline values for 2024 ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median guideline value for the area is Rs 3,300 per sq.ft, indicating that Kanniah Street's 2024 figure is below this median.

• Kannaki Street: Rs 2,800 per sq.ft (2024)
• Karpaga Vinayagar Koil Street: Rs 3,300 per sq.ft (2024)
• Kambar Street: Rs 2,800 per sq.ft (2024)
• Kamaraj Nagar Main Road: Rs 3,300 per sq.ft (2024)
• Kamaraj Nagar 9th Cross Street: Rs 3,300 per sq.ft (2024)
• Kamaraj Nagar 8th Cross Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Kanniah Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, while the registration fee at 2% would be Rs 44,000. Together, the total charges would amount to Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kanniah Street?

The Sub Registrar Office that covers Kanniah Street is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is an essential factor when registering property transactions in Perungudi. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction process.

When a property is bought or sold, the guideline value is used to assess the applicable fees, ensuring that both the buyer and seller are aware of the costs involved. This value is crucial for compliance with local regulations and for the accurate processing of property registrations.

Frequently asked questions

What is the current guideline value of Kanniah Street?

The current guideline value of Kanniah Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 221 per sq.ft in 2002 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 895% over this period.

What is the land classification for Kanniah Street?

Kanniah Street is classified as Residential Class IV Type - I under the Neelankarai SRO.

What are the stamp duty and registration fees for property in Kanniah Street?

For a 1,000 sq.ft plot, the stamp duty would be Rs 1,54,000 and the registration fee would be Rs 44,000, totaling Rs 1,98,000 based on the current guideline value.

Which office handles registrations for Kanniah Street?

The Neelankarai Sub Registrar Office handles registrations for Kanniah Street, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.