Guideline Value for KANNIKOIL PALLAM

Kannikoil Pallam guideline value

The current guideline value of Kannikoil Pallam is Rs 3,300 per sq.ft, effective from 1 July 2024. This area is located in Mylapore village and falls under the Mylapore SRO. The land classification for this street is Residential Class V Type - III.

How the guideline value of Kannikoil Pallam has changed

The guideline value for Kannikoil Pallam has seen several revisions over the years. In 2007, the guideline value was Rs 900 per sq.ft. This increased significantly to Rs 3,000 per sq.ft in 2012, marking a 233% rise. However, from 2012 to 2017, the value decreased to Rs 2,010 per sq.ft, reflecting a 33% drop. The value then increased to Rs 3,000 per sq.ft in 2023, a 49% increase from the previous revision. The most recent revision in 2024 set the guideline value at Rs 3,300 per sq.ft, which is a 10% increase from 2023.

The register has no figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 267%.

Guideline values in Mylapore

In Mylapore, there are 883 streets under the Mylapore SRO, with 2024 guideline values ranging from Rs 3,300 to Rs 25,800 per sq.ft. The median guideline value for these streets is Rs 8,800 per sq.ft, placing the 2024 figure for Kannikoil Pallam below this median.

• Kannikoil Medu: Rs 3,300 per sq.ft (2024)
• Kannikoil Hut Area: Rs 4,900 per sq.ft (2024)
• Kannilal Street: Rs 4,900 per sq.ft (2024)
• Karaneeswarar Koil 1st Lane: Rs 9,300 per sq.ft (2024)
• Karaneewarar Koil 2nd Lane: Rs 9,300 per sq.ft (2024)
• Karaneewarar Koil 3rd Lane: Rs 9,300 per sq.ft (2024)

Stamp duty and registration fee for property in Kannikoil Pallam

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kannikoil Pallam?

The Sub Registrar Office that covers Kannikoil Pallam is the Mylapore Sub Registrar Office, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai - 600018. You can find your SRO for more information.

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

The guideline value is a crucial factor during property transactions in Mylapore. It serves as the basis for calculating stamp duty and registration fees, which are mandatory when registering a property. Buyers and sellers must be aware of the current guideline value to ensure compliance with legal requirements during the sale process.

When purchasing property, the guideline value helps determine the minimum value at which the property can be registered. It is essential for both parties to refer to the latest guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Kannikoil Pallam?

The current guideline value of Kannikoil Pallam is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 900 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, marking an overall increase of 267% over the years.

What are the guideline values of other streets in Mylapore?

Other streets in Mylapore have varying guideline values, with rates ranging from Rs 3,300 to Rs 25,800 per sq.ft. The median value for these streets is Rs 8,800 per sq.ft.

What fees are associated with property registration in Kannikoil Pallam?

For a property valued at Rs 33,00,000, the stamp duty is Rs 2,31,000 and the registration fee is Rs 66,000, totaling Rs 2,97,000. These fees are calculated based on the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Kannikoil Pallam?

The Sub Registrar Office for Kannikoil Pallam is located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai - 600018. You can also find more information online.