Guideline Value for KANNIAMMAN KOIL STREET

Kanniamman Koil Street guideline value

The current guideline value of Kanniamman Koil Street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Mambalam village under the Thiyagaraya nagar SRO, classified as Residential Class III Type - III.

How the guideline value of Kanniamman Koil Street has changed

The guideline value for Kanniamman Koil Street has undergone several revisions over the years. In 2002, the value was Rs 557 per sq.ft, which increased to Rs 618 per sq.ft in 2003, marking an 11% rise. Following this, the value saw a significant increase to Rs 1,000 per sq.ft in 2007, reflecting a 62% change. The 2012 revision brought the value back to Rs 4,000 per sq.ft, a substantial increase of 300% from the previous revision. In 2017, the value was Rs 2,680 per sq.ft, which was a decrease of 33% compared to 2012. The value then rose to Rs 4,000 per sq.ft in 2023, and finally to Rs 4,400 per sq.ft in 2024, representing a 10% increase.

Overall, from 2002 to 2024, the guideline value has increased by 690%. There are no figures available for the years not mentioned in the register for this street.

Guideline values in Mambalam

In Mambalam, there are 163 streets under the Thiyagaraya nagar SRO with a 2024 guideline value ranging from Rs 4,400 to Rs 22,000 per sq.ft. The median value for these streets is Rs 6,600 per sq.ft, indicating that the guideline value for Kanniamman Koil Street is below this median.

• Kasi Viswanathar Street: Rs 4,400 per sq.ft (2024)
• Kasthuri Bai Street: Rs 6,600 per sq.ft (2024)
• Kavarai Street(North): Rs 5,000 per sq.ft (2024)
• Kavarai Street (South): Rs 5,000 per sq.ft (2024)
• Kavarai Street (West): Rs 5,000 per sq.ft (2024)
• Kaveri Nagar 2st Cross Street: Rs 5,000 per sq.ft (2024)

Stamp duty and registration fee for property in Kanniamman Koil Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value would be Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, making the total cost for these fees Rs 3,96,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kanniamman Koil Street?

The Sub Registrar Office that covers Kanniamman Koil 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 details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Mambalam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring transparency and fairness in real estate transactions.

When a property is sold, the registration fees and stamp duty are calculated based on this guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Kanniamman Koil Street?

The current guideline value of Kanniamman Koil Street is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 557 per sq.ft in 2002 to Rs 4,400 per sq.ft in 2024, reflecting an overall increase of 690% over this period.

What are the stamp duty rates for properties in Mambalam?

The stamp duty for properties in Mambalam is 7% of the guideline value or sale price, whichever is higher, along with a registration fee of 2%.

Where is the Sub Registrar Office located?

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

What is the median guideline value for streets in Mambalam?

The median guideline value for streets in Mambalam is Rs 6,600 per sq.ft, while Kanniamman Koil Street's value is below this median at Rs 4,400 per sq.ft.