Guideline Value for KANNIYAPPAN STREET

Kanniyappan Street guideline value

The current guideline value of Kanniyappan Street is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Ramapuram village and falls under the Chennai South Joint II SRO. The land classification for this area is Residential Class II Type - II.

How the guideline value of Kanniyappan Street has changed

Over the years, the guideline value of Kanniyappan Street has seen significant changes. The register shows that in 2003, the guideline value was Rs 346 per sq.ft. This figure increased to Rs 1,100 per sq.ft in 2007, marking a substantial rise of 218%. Following this, the value jumped to Rs 2,500 per sq.ft in 2012, an increase of 127%. However, it then decreased to Rs 1,675 per sq.ft in 2017, reflecting a decline of 33%. The value further rose to Rs 2,500 per sq.ft in 2023, and finally reached Rs 2,750 per sq.ft in the 2024 revision, which is a 10% increase from the previous year.

It is important to note that there is no figure available for the year 2002 in the register for this street. Overall, from 2003 to 2024, the guideline value has increased by 695%.

Guideline values in Ramapuram

In Ramapuram, there are 394 streets under the Chennai South Joint II SRO that have a 2024 guideline value ranging from Rs 1,950 to Rs 6,600 per sq.ft. The median guideline value for these streets is Rs 3,100 per sq.ft, making the current value of Kanniyappan Street below that median.

• Karpagambal Nagar / Street: Rs 2,750 per sq.ft (2024)
• Kannappar Street: Rs 1,950 per sq.ft (2024)
• Kannammal Street 2nd Lane: Rs 3,100 per sq.ft (2024)
• Kannammal Street: Rs 3,100 per sq.ft (2024)
• Kannagi Street: Rs 2,750 per sq.ft (2024)
• Kannadhasan Nagar: Rs 3,100 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 2,750 per sq.ft, the total guideline value amounts to Rs 27,50,000. The stamp duty at 7% would be Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, bringing the total fees together to Rs 2,47,500. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Kanniyappan Street?

The Sub Registrar Office that covers Kanniyappan Street is the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035. You can find your SRO for more information.

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

The guideline value is a critical factor during the registration process when buying or selling property in Ramapuram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring compliance with local regulations.

When a property is sold, the guideline value is used to calculate the applicable stamp duty and registration fees. Buyers must be aware that these charges are based on the higher of the guideline value or the sale price, ensuring that the registration process reflects the true value of the transaction.

Frequently asked questions

What is the current guideline value of Kanniyappan Street?

The current guideline value of Kanniyappan Street is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 346 per sq.ft in 2003 to Rs 2,750 per sq.ft in 2024, reflecting an overall increase of 695% over this period.

What is the registration office for Kanniyappan Street?

The registration office for Kanniyappan Street is the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.

How is 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, on a property valued at Rs 27,50,000, the stamp duty would be Rs 1,92,500 at a rate of 7%.

What are the other streets with guideline values in Ramapuram?

Other streets in Ramapuram include Karpagambal Nagar / Street at Rs 2,750 per sq.ft, Kannappar Street at Rs 1,950 per sq.ft, and Kannammal Street at Rs 3,100 per sq.ft, among others.