Guideline Value for KANNIAPPAN STREET (U.R.NAGAR)

Kanniappan Street (U.R.Nagar) guideline value

The current guideline value of Kanniappan Street (U.R.Nagar) is Rs 6,600 per sq.ft, effective from 1 July 2024. This street is located in Padi village, under the Villivakkam SRO, and is classified as Residential Class II Type - III.

How the guideline value of Kanniappan Street (U.R.Nagar) has changed

The guideline value for Kanniappan Street has undergone several revisions over the years. In 2012, the guideline value was Rs 6,000 per sq.ft, which decreased to Rs 4,020 per sq.ft in 2017. This was a decrease of 33%. However, from 2017 to 2023, the value increased significantly by 49%, reaching Rs 6,000 per sq.ft. The most recent revision in 2024 set the value at Rs 6,600 per sq.ft, marking a 10% increase from the previous year.

It is important to note that there are no figures available for Kanniappan Street in the revisions for the years 2002, 2003, and 2007. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Padi

In Padi, there are 354 streets under the Villivakkam SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 13,200 per sq.ft. The median value for these streets is Rs 3,800 per sq.ft, placing Kanniappan Street's 2024 figure of Rs 6,600 per sq.ft above the median.

• Karumariamman Koil Street (U.R.Nagar): Rs 6,600 per sq.ft (2024)
• Kambar Street: Rs 3,400 per sq.ft (2024)
• Karunanithi Street (U.R.Nagar): Rs 6,600 per sq.ft (2024)
• Kamaraj Street (S.No.239/1): Rs 2,500 per sq.ft (2024)
• Kamaraj Nagar (Padikuppam Main Road): Rs 5,400 per sq.ft (2024)
• Kamaraj Nagar Lane: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Kanniappan Street (U.R.Nagar)

For a 1,000 sq.ft plot at the current guideline value of Rs 6,600 per sq.ft, the total guideline value would be Rs 66,00,000. The stamp duty at 7% would amount to Rs 4,62,000, and the registration fee at 2% would be Rs 1,32,000, bringing the total to Rs 5,94,000. It is essential to note that the duty is charged on the higher of the guideline value and the sale price.

For more detailed calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kanniappan Street (U.R.Nagar)?

Kanniappan Street (U.R.Nagar) falls under the jurisdiction of 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 Padi

The guideline value is a critical factor during the registration of property transactions in Padi. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when purchasing or selling property.

When a property is registered, the guideline value is used to calculate the applicable duties, ensuring that the government receives the appropriate revenue from property transactions. Buyers and sellers should be aware of these values to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Kanniappan Street (U.R.Nagar)?

The current guideline value of Kanniappan Street (U.R.Nagar) is Rs 6,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 6,000 per sq.ft in 2012 to Rs 4,020 per sq.ft in 2017, then increased to Rs 6,000 per sq.ft in 2023, and finally to Rs 6,600 per sq.ft in 2024.

What are the other guideline values in Padi?

In Padi, other streets have guideline values ranging from Rs 2,200 to Rs 13,200 per sq.ft, with Kanniappan Street's value being above the median of Rs 3,800 per sq.ft.

What are the stamp duty and registration fees for Kanniappan Street (U.R.Nagar)?

For a 1,000 sq.ft property at the current guideline value, the total stamp duty would be Rs 4,62,000, and the registration fee would be Rs 1,32,000, totaling Rs 5,94,000.

Which office handles registrations for Kanniappan Street (U.R.Nagar)?

The Villivakkam Sub Registrar Office handles registrations for Kanniappan Street (U.R.Nagar), located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.