Guideline Value for KANNIAMMAN KOIL STREET

Kanniamman Koil Street guideline value

The current guideline value of Kanniamman Koil Street is Rs 1,600 per sq.ft, effective from 1 July 2024. This street is located in Korattur village and falls under the Villivakkam SRO. It is classified as Residential Class III Type - III.

How the guideline value of Kanniamman Koil Street has changed

The guideline value of Kanniamman Koil Street has undergone several revisions over the years. In 2002, the value was Rs 184 per sq.ft, which increased to Rs 410 per sq.ft in 2007, marking a significant rise of 123%. The value then soared to Rs 1,500 per sq.ft in 2012, reflecting a remarkable increase of 266%. However, between 2012 and 2017, the value decreased to Rs 1,005 per sq.ft, a drop of 33%. The most recent revision in 2024 set the guideline value at Rs 1,600 per sq.ft, which is a 59% increase from the 2017 figure.

It is important to note that the guideline value register does not have figures for the years 2003 and 2023 for this street. Overall, from 2002 to 2024, the guideline value has increased by 770%.

Guideline values in Korattur

In Korattur, there are 617 streets under the Villivakkam SRO with a 2024 guideline value ranging from Rs 1,100 to Rs 8,200 per sq.ft. The median value for these streets is Rs 2,500 per sq.ft, placing Kanniamman Koil Street's 2024 figure below that median.

• Kannamma Nagar: Rs 1,600 per sq.ft (2024)
• Kannagi Nagar 5th Street: Rs 2,500 per sq.ft (2024)
• KANNAGI NAGAR 3rd STREET: Rs 2,500 per sq.ft (2024)
• KANNAGI NAGAR 2nd STREET: Rs 2,500 per sq.ft (2024)
• KANNAGI NAGAR 1st STREET: Rs 2,500 per sq.ft (2024)
• Kandigai Street: Rs 2,900 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 1,600 per sq.ft, the total guideline value is Rs 16,00,000. The stamp duty at 7% would be Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, bringing the total to Rs 1,44,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Kanniamman Koil Street?

The Sub Registrar Office that covers Kanniamman Koil Street is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Korattur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is documented at a fair value.

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

Frequently asked questions

What is the current guideline value of Kanniamman Koil Street?

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

How much has the guideline value changed over the years?

Since 2002, the guideline value has increased from Rs 184 per sq.ft to Rs 1,600 per sq.ft in 2024, which is an overall increase of 770%.

What is the land classification for Kanniamman Koil Street?

Kanniamman Koil Street is classified as Residential Class III Type - III, indicating its intended use for residential purposes.

Where can I find the Sub Registrar Office for Kanniamman Koil Street?

The Villivakkam Sub Registrar Office covers Kanniamman Koil Street, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the higher of the guideline value or the sale price of the property. For example, a property with a guideline value of Rs 16,00,000 incurs a stamp duty of Rs 1,12,000 and a registration fee of Rs 32,000.