Guideline Value for KANNIAMMAN KOIL STREET (WARD -18)

Kanniamman Koil Street (Ward -18) guideline value

The current guideline value of Kanniamman Koil Street (Ward -18) is Rs 550 per sq.ft, effective from 1 July 2024. This street is located in Sattamangalam village, under the Chengleput Joint II SRO, with a land classification of Residential Class II Type - I.

How the guideline value of Kanniamman Koil Street (Ward -18) has changed

Over the years, the guideline value for Kanniamman Koil Street has experienced several revisions. The earliest recorded figures are from 2012, where the guideline value was Rs 500 per sq.ft. This was followed by a decrease to Rs 335 per sq.ft in 2017. However, from 2017 to 2023, the value increased significantly to Rs 500 per sq.ft, and in the latest revision for 2024, it has risen to Rs 550 per sq.ft, marking a 10% increase from the previous year.

The changes between the revisions show a 49% increase from 2017 to 2023 and a 33% decrease from 2012 to 2017. Overall, from 2012 to 2024, there has been a 10% increase in the guideline value.

Guideline values in Sattamangalam

Sattamangalam village has a total of 425 streets under the Chengleput Joint II SRO, with the 2024 guideline values ranging from Rs 440 to Rs 2,200 per sq.ft. The median value for these streets is Rs 1,100 per sq.ft, placing the 2024 guideline value of Kanniamman Koil Street below this median.

• Kannikoil Street Kattankolathur (Ward -18): Rs 550 per sq.ft (2024)
• Karaikal Ammiyar Street (Per): Rs 1,320 per sq.ft (2024)
• Kannaki Street (N): Rs 1,320 per sq.ft (2024)
• Kannagi Street (Ward -5): Rs 1,320 per sq.ft (2024)
• Karikaalan Street (Ward -6): Rs 1,320 per sq.ft (2024)
• Karikilaar Street (Ward -6): Rs 1,320 per sq.ft (2024)

Stamp duty and registration fee for property in Kanniamman Koil Street (Ward -18)

For a 1,000 sq.ft plot at the current guideline value of Rs 550 per sq.ft, the total guideline value amounts to Rs 5,50,000. The stamp duty at 7% would be Rs 38,500, and the registration fee at 2% would be Rs 11,000, bringing the total amount for these fees to Rs 49,500. 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 precise calculations.

Which Sub Registrar Office covers Kanniamman Koil Street (Ward -18)?

The Sub Registrar Office that covers Kanniamman Koil Street (Ward -18) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, 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 Sattamangalam

The guideline value plays a crucial role in the registration process of property transactions in Sattamangalam. When a property is sold or purchased, the guideline value is used to determine the applicable stamp duty and registration fees. Buyers should be aware that these fees are calculated based on the guideline value or the sale price, whichever is higher.

Additionally, understanding the guideline value is essential for both buyers and sellers, as it helps in assessing the official value of the property for legal and financial purposes. It ensures that all transactions are conducted transparently and in accordance with the regulations set by the Registration Department.

Frequently asked questions

What is the current guideline value of Kanniamman Koil Street (Ward -18)?

The current guideline value of Kanniamman Koil Street (Ward -18) is Rs 550 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 500 per sq.ft in 2012 to Rs 335 per sq.ft in 2017, then increased to Rs 500 per sq.ft in 2023, and finally to Rs 550 per sq.ft in 2024.

What is the land classification of Kanniamman Koil Street (Ward -18)?

The land classification of Kanniamman Koil Street (Ward -18) is Residential Class II Type - I.

Where can I find the Chengleput Joint II Sub Registrar Office?

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone.

How is stamp duty calculated for property transactions in Sattamangalam?

Stamp duty is calculated based on the guideline value or the sale price of the property, whichever is higher. For example, a 1,000 sq.ft plot at the current rate would incur a stamp duty of Rs 38,500.