Guideline Value for KANNIAPPAN STREET (CHOOLAIMEDU)

Kanniappan Street (Choolaimedu) guideline value

The current guideline value of Kanniappan Street (Choolaimedu) is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Puliyur village and falls under the Kodambakkam SRO, classified as Residential Class IV Type - II.

How the guideline value of Kanniappan Street (Choolaimedu) has changed

The guideline value for Kanniappan Street (Choolaimedu) has seen several revisions over the years. In 2007, the value was Rs 1,135 per sq.ft, which increased significantly to Rs 4,000 per sq.ft by 2012. However, this figure dropped to Rs 2,680 per sq.ft in 2017. The value then rose sharply to Rs 4,000 per sq.ft in 2023, and the most recent revision in 2024 set the guideline value at Rs 4,400 per sq.ft. Notably, the register has no figures for the years 2002 and 2003.

From 2017 to 2023, there was a 49% increase in the guideline value, while the jump from 2023 to 2024 was 10%. The value saw a significant decrease of 33% from 2012 to 2017 and an impressive increase of 252% from 2007 to 2012. Overall, from 2007 to 2024, the guideline value has increased by 288%.

Guideline values in Puliyur

In Puliyur village, there are 648 streets under the Kodambakkam SRO that have a 2024 guideline value ranging from Rs 3,300 to Rs 14,300 per sq.ft. The median value for these streets is Rs 5,800 per sq.ft, placing Kanniappan Street's 2024 figure below that median.

• Kannappa Street (Behind Ambika Empire): Rs 6,300 per sq.ft (2024)
• Kanthappan Colony: Rs 5,000 per sq.ft (2024)
• Karnan Lane: Rs 5,000 per sq.ft (2024)
• Karnan Street: Rs 6,300 per sq.ft (2024)
• Kannagi Street: Rs 5,000 per sq.ft (2024)
• Kannadasan Street: Rs 6,300 per sq.ft (2024)

Stamp duty and registration fee for property in Kanniappan Street (Choolaimedu)

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

Which Sub Registrar Office covers Kanniappan Street (Choolaimedu)?

The Sub Registrar Office that covers Kanniappan Street (Choolaimedu) is the Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Puliyur. It serves as a benchmark for determining the value of the property for stamp duty and registration fees. Buyers and sellers must be aware that the guideline value is used to calculate these fees, ensuring compliance with local regulations.

When a property is bought or sold, the registration office refers to the guideline value to assess the appropriate fees. This ensures that all transactions are conducted fairly and transparently, reflecting the official value assigned to the property.

Frequently asked questions

What is the current guideline value of Kanniappan Street (Choolaimedu)?

The current guideline value of Kanniappan Street (Choolaimedu) 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 significantly from Rs 1,135 per sq.ft in 2007 to Rs 4,400 per sq.ft in 2024. Notable changes include a drop to Rs 2,680 per sq.ft in 2017 and a rise to Rs 4,000 per sq.ft in 2023.

What is the land classification for Kanniappan Street (Choolaimedu)?

Kanniappan Street (Choolaimedu) is classified as Residential Class IV Type - II. This classification indicates the type of development allowed in the area.

Where can I find the Kodambakkam Sub Registrar Office?

The Kodambakkam Sub Registrar Office is located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026. This office handles registrations for properties in the area.

How is stamp duty calculated for properties in Kanniappan Street (Choolaimedu)?

Stamp duty is 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 44,00,000 would incur a stamp duty of Rs 3,08,000 at a rate of 7%.