Guideline Value for KANNIAH STREET

Kanniah Street guideline value

The current guideline value of Kanniah Street is Rs 6,600 per sq.ft, effective from 1 July 2024. This street is located in Tnagar village under the Thiyagaraya nagar SRO, classified as Residential Class III 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 the 2002 revision, the value was Rs 1,875 per sq.ft. This increased to Rs 2,081 per sq.ft in 2003, marking an increase of 11%. The value continued to rise, reaching Rs 4,000 per sq.ft in 2007, which was a significant increase of 92%. However, in the 2012 revision, the value dropped to Rs 6,000 per sq.ft, a decrease of 33%. The value then saw an increase to Rs 4,020 per sq.ft in 2017, followed by a rise to Rs 6,000 per sq.ft in 2023. The most recent revision in 2024 set the guideline value at Rs 6,600 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 252%. There are no figures available for the years not listed in the register for this street.

Guideline values in Tnagar

In Tnagar, there are 262 streets under the Thiyagaraya nagar SRO, with guideline values ranging from Rs 4,400 to Rs 27,500 per sq.ft. The median guideline value in this area is Rs 11,000 per sq.ft, placing the 2024 figure for Kanniah Street below that median.

• Kannammapet: Rs 5,500 per sq.ft (2024)
• Kannadasan Street / Kannadasan Road: Rs 17,600 per sq.ft (2024)
• Kamaraj Colony: Rs 5,500 per sq.ft (2024)
• Kamalabai Street: Rs 8,300 per sq.ft (2024)
• Kaliur Srinivasa Chari Road: Rs 5,500 per sq.ft (2024)
• Kodambakkam High Road: Rs 22,000 per sq.ft (2024)

Stamp duty and registration fee for property in Kanniah Street

For a 1,000 sq.ft plot at the current rate of Rs 6,600 per sq.ft, the guideline value amounts to Rs 66,00,000. The stamp duty at 7% would be Rs 4,62,000, and the registration fee at 2% would be Rs 1,32,000, totaling Rs 5,94,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use our 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 Thiyagaraya nagar Sub Registrar Office, located at 27/14, Vetnari Hospital Road, Panpet, Nandhanam, Chennai-35. You can find your SRO for more information.

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

The guideline value is a crucial factor during property registration in Tnagar. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when a property is bought or sold. Buyers should be aware that the duty is charged based on the higher of the guideline value or the sale price.

When engaging in property transactions, it is essential to consider the guideline value as it directly impacts the overall cost involved in the registration process. Understanding these values helps ensure compliance with local regulations and accurate financial planning.

Frequently asked questions

What is the current guideline value of Kanniah Street?

The current guideline value of Kanniah Street is Rs 6,600 per sq.ft, effective from 1 July 2024.

How has the guideline value of Kanniah Street changed over the years?

The guideline value has changed from Rs 1,875 per sq.ft in 2002 to Rs 6,600 per sq.ft in 2024, reflecting an overall increase of 252% over this period.

What is the land classification for Kanniah Street?

Kanniah Street is classified as Residential Class III Type - I under the Thiyagaraya nagar SRO.

Where can I find the Sub Registrar Office for Kanniah Street?

The Thiyagaraya nagar Sub Registrar Office is located at 27/14, Vetnari Hospital Road, Panpet, Nandhanam, Chennai-35.

How is stamp duty calculated for properties in Tnagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 66,00,000, the stamp duty would be calculated at 7% of this amount.