Guideline Value for KANNIGAPURAM 1ST STREET

Kannigapuram 1st Street guideline value

The current guideline value for Kannigapuram 1st Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Perambur village under the Purasaivakkam SRO, classified as Residential Class IV Type - I.

How the guideline value of Kannigapuram 1st Street has changed

Over the years, the guideline value for Kannigapuram 1st Street has seen significant changes. In 2003, the value was Rs 369 per sq.ft, which increased to Rs 500 per sq.ft in 2007, marking a 36% rise. The value then surged by 300% to Rs 2,000 per sq.ft in 2012, before dropping to Rs 1,340 per sq.ft in 2017, a decrease of 33%. The 2023 revision set the value at Rs 2,000 per sq.ft, and the latest revision in 2024 has increased it to Rs 2,200 per sq.ft, reflecting a 10% increase.

From 2017 to 2023, there was a notable increase of 49%. Overall, from 2003 to 2024, the guideline value has risen by 496%. It is important to note that the register has no figure for this street for the year 2002.

Guideline values in Perambur

In Perambur village, there are 1,114 streets under the Purasaivakkam SRO, with guideline values ranging from Rs 1,600 to Rs 7,100 per sq.ft, and the median value is Rs 2,700 per sq.ft. The guideline value for Kannigapuram 1st Street is below this median.

• Kannigapuram 2nd Street: Rs 2,200 per sq.ft (2024)
• Kannigapuram Main Road: Rs 2,200 per sq.ft (2024)
• KANNIGAPURAM(vasukinagar): Rs 2,200 per sq.ft (2024)
• Karimedu: Rs 2,200 per sq.ft (2024)
• Karimedu 1st Street: Rs 2,200 per sq.ft (2024)
• Karimedu 2nd Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Kannigapuram 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, totaling Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kannigapuram 1st Street?

The Sub Registrar Office that covers Kannigapuram 1st Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Perambur. It is used to determine the stamp duty and registration fees that need to be paid at the time of registration, ensuring that the transaction is legally recognized.

When a property is sold, the guideline value is assessed to ensure that the sale price is in accordance with the established rates. This helps in maintaining transparency and fairness in property transactions within the region.

Frequently asked questions

What is the current guideline value of Kannigapuram 1st Street?

The current guideline value for Kannigapuram 1st Street is Rs 2,200 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 369 per sq.ft in 2003 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 496% over the years.

What is the stamp duty for property in Kannigapuram 1st Street?

The stamp duty for a property in Kannigapuram 1st Street is 7% of the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Kannigapuram 1st Street located?

The Sub Registrar Office for Kannigapuram 1st Street is located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.

What is the land classification for Kannigapuram 1st Street?

Kannigapuram 1st Street is classified as Residential Class IV Type - I, indicating its designation for residential purposes.