Guideline Value for KANNIGAPURAM SECOND CROSS STREET

Kannigapuram Second Cross Street guideline value

The current guideline value of Kannigapuram Second Cross Street is Rs 750 per sq.ft. This street is located in Walajabad village, under the Walajabad SRO, and falls under the Residential Class IV Type - I land classification.

How the guideline value of Kannigapuram Second Cross Street has changed

The guideline value for Kannigapuram Second Cross Street has seen several revisions over the years. The earliest recorded figure is from 2007, where the value was Rs 60 per sq.ft. This figure increased significantly to Rs 750 per sq.ft in 2012, marking a change of +1150%. However, in the 2017 revision, the value dropped to Rs 502 per sq.ft, reflecting a decrease of -33%. The value then rose again to Rs 750 per sq.ft in the 2023 revision, maintaining that same figure in the 2024 revision, resulting in a change of +49% from 2017 to 2023.

It is important to note that there are no figures available for the years 2002 and 2003 in the register for this street. Overall, from 2007 to 2024, the guideline value has increased by +1150%.

Guideline values in Walajabad

In Walajabad, there are 196 streets under the Walajabad SRO that carry a 2024 guideline value, ranging from Rs 400 to Rs 2,000 per sq.ft. The median value is Rs 750 per sq.ft, which aligns with the 2024 figure for Kannigapuram Second Cross Street.

• Kancheepuram Salai: Rs 1,500 per sq.ft (2024)
• Karuppan Kovil Street: Rs 750 per sq.ft (2024)
• Kammala Street: Rs 750 per sq.ft (2024)
• Kasukkara Street: Rs 750 per sq.ft (2024)
• Kavadikkara St: Rs 750 per sq.ft (2024)
• Kavarai St: Rs 750 per sq.ft (2024)

Stamp duty and registration fee for property in Kannigapuram Second Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 750 per sq.ft, the total guideline value would be Rs 7,50,000. The stamp duty at 7% would amount to Rs 52,500, and the registration fee at 2% would be Rs 15,000, bringing the total fees to Rs 67,500. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kannigapuram Second Cross Street?

The Sub Registrar Office that covers Kannigapuram Second Cross Street is the Walajabad Sub Registrar Office, located at Sriperumbudur Road, Walajabad-631 605, Chengalpattu registration zone. You can find your SRO online for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Walajabad. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the sale or purchase of property. Buyers and sellers should be aware that the guideline value is used to ensure that the transaction is recorded accurately and fairly.

When a property is sold or purchased, the guideline value is compared with the sale price to determine the applicable fees. If the sale price is higher than the guideline value, the stamp duty is calculated based on the sale price. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Kannigapuram Second Cross Street?

The current guideline value of Kannigapuram Second Cross Street is Rs 750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 60 per sq.ft in 2007 to Rs 750 per sq.ft in 2012, then decreased to Rs 502 per sq.ft in 2017, and has remained at Rs 750 per sq.ft in 2023 and 2024.

What is the land classification for Kannigapuram Second Cross Street?

Kannigapuram Second Cross Street falls under the Residential Class IV Type - I land classification.

Where can I find the Walajabad Sub Registrar Office?

The Walajabad Sub Registrar Office is located at Sriperumbudur Road, Walajabad-631 605, Chengalpattu registration zone.

How is stamp duty calculated for properties in Kannigapuram Second Cross Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a 1,000 sq.ft plot at the current guideline value, the stamp duty would be Rs 52,500.