Guideline Value for KANNIKOIL STREET KATTANKOLATHUR (WARD -18)

Kannikoil Street Kattankolathur (Ward -18) guideline value

The current guideline value for Kannikoil Street Kattankolathur (Ward -18) is Rs 550 per sq.ft, effective from 1 July 2024. This street is located in Sattamangalam 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 has seen several revisions over the years. In 2012, the value was Rs 500 per sq.ft, which then decreased to Rs 335 per sq.ft in 2017, marking a drop of 33%. However, from 2017 to 2023, the value increased significantly to Rs 500 per sq.ft, reflecting a 49% rise. The latest revision in 2024 set the value at Rs 550 per sq.ft, showing a 10% increase from the previous year.

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 Sattamangalam

Sattamangalam village has 425 streets under the Chengleput Joint II SRO, with 2024 guideline values ranging from Rs 440 to Rs 2,200 per sq.ft. The median guideline value in this area is Rs 1,100 per sq.ft, placing Kannikoil Street's current value below that median.

• Karaikal Ammiyar Street (Per): Rs 1,320 per sq.ft (2024)
• Kanniamman Koil Street (Ward -18): Rs 550 per sq.ft (2024)
• Karikaalan Street (Ward -6): Rs 1,320 per sq.ft (2024)
• Karikilaar Street (Ward -6): Rs 1,320 per sq.ft (2024)
• Kannaki Street (N): Rs 1,320 per sq.ft (2024)
• Kannagi Street (Ward -5): Rs 1,320 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 would be Rs 5,50,000. The stamp duty at 7% would amount to Rs 38,500, and the registration fee at 2% would be Rs 11,000, making the total cost for these fees Rs 49,500. 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 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, Chengalpattu registration zone. You can find your SRO for more assistance.

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

The guideline value is a critical factor in the registration process when buying or selling property in Sattamangalam. It serves as a benchmark for determining the applicable stamp duty and registration fees, ensuring that these costs are calculated based on a standardized value.

When engaging in property transactions, it is essential to be aware of the current guideline value, as it directly influences the financial obligations associated with the registration of the property. This ensures transparency and compliance with local regulations.

Frequently asked questions

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

The current guideline value for 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 changed from Rs 500 per sq.ft in 2012 to Rs 335 per sq.ft in 2017, then increased to Rs 500 per sq.ft in 2023, and finally to Rs 550 per sq.ft in 2024.

What is the registration fee for property in this area?

The registration fee is calculated at 2% of the guideline value. For a property valued at Rs 5,50,000, the registration fee would be Rs 11,000.

Where can I find the Sub Registrar Office for this street?

The Chengleput Joint II Sub Registrar Office covers Kannikoil Street Kattankolathur (Ward -18) and is located at 10, Kancheepuram Main Road, Chengalpattu 603 002.

What is the significance of the guideline value in property transactions?

The guideline value is used to determine the stamp duty and registration fees during property transactions. It ensures that these fees are based on a standardized value, providing transparency and compliance with local regulations.