Guideline Value for KANNIGAPURAM 2ND STREET

Kannigapuram 2nd Street guideline value

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

How the guideline value of Kannigapuram 2nd Street has changed

Over the years, the guideline value of Kannigapuram 2nd Street has seen significant changes. The earliest recorded revision was in 2003, with a guideline value of Rs 369 per sq.ft. This figure increased to Rs 500 per sq.ft in 2007, marking a 36% rise. The 2012 revision saw the value jump to Rs 2,000 per sq.ft, a substantial increase of 300%. However, it then decreased to Rs 1,340 per sq.ft in 2017, reflecting a decline of 33% before rising again to Rs 2,000 per sq.ft in 2023. The most recent revision in 2024 set the guideline value at Rs 2,200 per sq.ft, indicating a 10% increase from the previous year.

It is important to note that there is no figure available for the year 2002 in the register for this street. Overall, from 2003 to 2024, the guideline value has increased by 496%.

Guideline values in Perambur

In Perambur, there are 1,114 streets under the Purasaivakkam SRO, with 2024 guideline values ranging from Rs 1,600 to Rs 7,100 per sq.ft. The median guideline value for these streets is Rs 2,700 per sq.ft, placing the 2024 figure for Kannigapuram 2nd Street below that median.

• Kannigapuram Main Road: Rs 2,200 per sq.ft (2024)
• Kannigapuram 1st Street: 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 2nd 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 amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, together totaling Rs 1,98,000. It is important to note that the stamp duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Kannigapuram 2nd Street?

The Sub Registrar Office that covers Kannigapuram 2nd 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 the basis for calculating stamp duty and registration fees, ensuring that these costs are aligned with the official valuation of the property.

When a property transaction occurs, the guideline value is compared to the sale price, and the higher of the two is used to determine the applicable duties. This ensures that the government receives the correct amount of revenue from property transactions.

Frequently asked questions

What is the current guideline value of Kannigapuram 2nd Street?

The current guideline value of Kannigapuram 2nd 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, starting from Rs 369 per sq.ft in 2003 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 496% over this period.

What is the registration fee for properties in Kannigapuram 2nd Street?

The registration fee for properties in Kannigapuram 2nd Street is 2% of the guideline value. For example, for a property valued at Rs 22,00,000, the registration fee would be Rs 44,000.

Where can I find the Sub Registrar Office for Kannigapuram 2nd Street?

The Sub Registrar Office for Kannigapuram 2nd Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.

How is the stamp duty calculated for properties in Perambur?

Stamp duty in Perambur is calculated at 7% of the higher value between the guideline value and the sale price of the property. This ensures that the correct amount is collected based on the property's valuation.