Guideline Value for KANNIKOIL STREET KATTANKOLATHUR (WARD -18)

Kannikoil Street Kattankolathur (Ward -18) guideline value

The current guideline value of Kannikoil Street Kattankolathur (Ward -18) is Rs 550 per sq.ft, effective from 1 July 2024. This street is located in Ninna Karai village and falls under the Chengleput Joint II SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Kannikoil Street Kattankolathur (Ward -18) has changed

The guideline value for Kannikoil Street Kattankolathur has undergone several revisions over the years. The 2012 revision set the value at Rs 500 per sq.ft, which was then decreased to Rs 335 per sq.ft in the 2017 revision, marking a -33% change. Following this, the value increased to Rs 500 per sq.ft in the 2023 revision, and further rose to Rs 550 per sq.ft in the 2024 revision, reflecting a +10% change from the previous year.

Notably, there are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by +10%.

Guideline values in Ninna Karai

Ninna Karai village has a total of 449 streets under the Chengleput Joint II SRO, with guideline values for 2024 ranging from Rs 440 to Rs 3,500 per sq.ft. The median guideline value for these streets is Rs 1,100 per sq.ft, placing Kannikoil Street Kattankolathur's 2024 figure below that median.

• Karaikal Ammiyar Street (Per): Rs 1,321 per sq.ft (2024)
• Kanniamman Koil Street (Ward -18): Rs 660 per sq.ft (2024)
• Karikaalan Street (Ward -6): Rs 1,321 per sq.ft (2024)
• Karikilaar Street (Ward -6): Rs 1,321 per sq.ft (2024)
• Kannaki Street (N): Rs 1,321 per sq.ft (2024)
• Kannagi Street (Ward -5): Rs 1,321 per sq.ft (2024)

Stamp duty and registration fee for property in Kannikoil Street Kattankolathur (Ward -18)

For a 1,000 sq.ft plot at the current guideline value of Rs 550 per sq.ft, the total guideline value amounts to Rs 5,50,000. The stamp duty at 7% would be Rs 38,500, and the registration fee at 2% would be Rs 11,000, bringing the total fees to Rs 49,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Kannikoil Street Kattankolathur (Ward -18)?

The Sub Registrar Office that covers Kannikoil Street Kattankolathur (Ward -18) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Ninna Karai. It serves as a benchmark for calculating the stamp duty and registration fees, ensuring that these costs are based on the official valuation rather than the sale price.

When a property is registered, the guideline value is used to determine the applicable fees. Buyers and sellers should be aware that the stamp duty is charged on the higher of the guideline value or the sale price, which can impact the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Kannikoil Street Kattankolathur (Ward -18)?

The current guideline value of Kannikoil Street Kattankolathur (Ward -18) is Rs 550 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has experienced several changes, starting from Rs 500 per sq.ft in 2012, decreasing to Rs 335 per sq.ft in 2017, then increasing to Rs 500 per sq.ft in 2023, and finally reaching Rs 550 per sq.ft in 2024.

What is the land classification for Kannikoil Street Kattankolathur?

The land classification for Kannikoil Street Kattankolathur is Residential Class II Type - I.

Where can I find the Sub Registrar Office for Kannikoil Street Kattankolathur?

The Sub Registrar Office for Kannikoil Street Kattankolathur is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.

How is the stamp duty calculated for properties in Ninna Karai?

The stamp duty for properties in Ninna Karai is calculated based on the guideline value or the sale price, whichever is higher. For example, a property with a guideline value of Rs 5,50,000 would incur a stamp duty of Rs 38,500 at 7%.