Guideline Value for KANNIYAPPAN STREET

Kanniyappan Street guideline value

The current guideline value of Kanniyappan Street is Rs 3,800 per sq.ft, effective from 1 July 2024. This street is located in Vadaagaram village, under the Kodambakkam SRO, and is classified as Residential Class IV Type - II.

How the guideline value of Kanniyappan Street has changed

The guideline value for Kanniyappan Street has seen several revisions over the years. In 2003, the value was Rs 729 per sq.ft, which increased to Rs 900 per sq.ft in 2007. The value then surged to Rs 3,500 per sq.ft in 2012, before dropping to Rs 2,345 per sq.ft in 2017. A significant increase occurred in 2023, bringing the value to Rs 3,500 per sq.ft, and the most recent revision in 2024 set the value at Rs 3,800 per sq.ft, marking a 9% increase from the previous year.

Overall, the guideline value has increased by 421% from 2003 to 2024. It is noteworthy that there is no figure available for the year 2002 for this street in the register.

Guideline values in Vadaagaram

In Vadaagaram, there are 78 streets under the Kodambakkam SRO with a 2024 guideline value ranging from Rs 3,300 to Rs 16,500 per sq.ft. The median value for these streets is Rs 6,600 per sq.ft, making the guideline value of Kanniyappan Street below this median.

• Kannappan Street: Rs 6,000 per sq.ft (2024)
• Jawahar Pakkam: Rs 3,300 per sq.ft (2024)
• L.G.G.S.Colony 2nd Street: Rs 3,300 per sq.ft (2024)
• Indira Gandhi Nagar Main Road: Rs 3,800 per sq.ft (2024)
• Indira Gandhi Nagar 8th Street: Rs 3,800 per sq.ft (2024)
• Indira Gandhi Nagar 7th Street: Rs 3,800 per sq.ft (2024)

Stamp duty and registration fee for property in Kanniyappan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,800 per sq.ft, the total guideline value amounts to Rs 38,00,000. The stamp duty at 7% would be Rs 2,66,000, and the registration fee at 2% would be Rs 76,000, making the total fees Rs 3,42,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kanniyappan Street?

The Sub Registrar Office that covers Kanniyappan Street is the Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026. You can find your SRO for more information.

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

The guideline value is an essential factor in the registration process when buying or selling property in Vadaagaram. It determines the minimum value at which a property can be registered, ensuring that the transaction is recorded at a fair rate as per government standards.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory for the legal transfer of property ownership. This ensures transparency and helps in maintaining a standard valuation for properties in the area.

Frequently asked questions

What is the current guideline value of Kanniyappan Street?

The current guideline value of Kanniyappan Street is Rs 3,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 729 per sq.ft in 2003 to Rs 3,800 per sq.ft in 2024, with significant revisions occurring in 2007, 2012, 2017, and 2023.

What is the land classification of Kanniyappan Street?

Kanniyappan Street is classified as Residential Class IV Type - II.

Where can I find the registration office for Kanniyappan Street?

The registration office for Kanniyappan Street is the Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026.

How is the stamp duty calculated for properties in Kanniyappan Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 38,00,000, the stamp duty would be Rs 2,66,000 at a rate of 7%.