Guideline Value for Kanakavalli Street

Kanakavalli Street guideline value

The current guideline value of Kanakavalli Street is Rs 2,200 per sq.ft. It is located in Madipakkam-1 village under the Velacheri SRO. The land classification for this street is Residential Class II Type - I.

How the guideline value of Kanakavalli Street has changed

The guideline value register for Kanakavalli Street shows no figures for the years 2002, 2003, 2007, 2012, 2017, and 2023. The current figure, effective from 1 July 2024, is Rs 2,200 per sq.ft, as per the 2024 revision.

There have been no changes between the revisions above. The only available figure is from the 2024 revision, which is Rs 2,200 per sq.ft.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1823 streets under the Velacheri SRO that carry a 2024 guideline value ranging from Rs 1,650 to Rs 5,500 per sq.ft, with a median of Rs 2,750 per sq.ft. The guideline value for Kanakavalli Street is below this median.

• Kanchi Kama Kodi 1st Cross Street: Rs 2,200 per sq.ft (2024)
• Kanchi Kama Kodi 2nd Cross Street: Rs 2,200 per sq.ft (2024)
• Kanchi Kama Kodi 3rd Cross Street: Rs 2,200 per sq.ft (2024)
• Kanchi Kama Kodi 4th Cross Street: Rs 2,200 per sq.ft (2024)
• Kanchi Kama Kodi 5th Cross Street: Rs 2,200 per sq.ft (2024)
• Kanchi Kama Kodi Main Road: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Kanakavalli Street

For a 1,000 sq.ft plot at the current rate, the guideline value is Rs 22,00,000. The stamp duty at 7% amounts to Rs 1,54,000, and the registration fee at 2% is Rs 44,000, bringing the total to Rs 1,98,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kanakavalli Street?

The Sub Registrar Office that covers Kanakavalli Street is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Madipakkam-1

The guideline value is a crucial factor during the registration of property transactions in Madipakkam-1. It serves as a basis for calculating the stamp duty and registration fees, which are mandatory costs associated with property transactions.

When buying or selling property, the guideline value ensures that the transaction is recorded at an official value, which helps in maintaining transparency in property dealings. It is essential for both buyers and sellers to be aware of the current guideline value to avoid discrepancies during registration.

Frequently asked questions

What is the current guideline value of Kanakavalli Street?

The current guideline value of Kanakavalli Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

What is the land classification for Kanakavalli Street?

Kanakavalli Street is classified as Residential Class II Type - I, which indicates its suitability for residential purposes.

How many streets are there in Madipakkam-1 under the Velacheri SRO?

There are 1823 streets in Madipakkam-1 under the Velacheri SRO that have a 2024 guideline value.

What are the stamp duty rates applicable for property transactions?

The stamp duty rate is 7% of the guideline value or sale price, whichever is higher. The registration fee is 2% of the guideline value or sale price.

Where is the Velacheri Sub Registrar Office located?

The Velacheri Sub Registrar Office is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.