Guideline Value for Kaniappa Reddy Street

Kaniappa Reddy Street guideline value

The current guideline value of Kaniappa Reddy Street is Rs 1,700 per sq.ft, effective from 1 July 2024. This street is located in Menambedu village under the Ambattur SRO, and it is classified as Residential Special Type - I.

How the guideline value of Kaniappa Reddy Street has changed

Over the years, the guideline value for Kaniappa Reddy Street has seen several revisions. The 2012 revision set the value at Rs 1,600 per sq.ft, which was then followed by a decrease to Rs 1,072 per sq.ft in the 2017 revision. However, the value rose significantly to Rs 1,600 per sq.ft in 2023 and further increased to Rs 1,700 per sq.ft in the 2024 revision, marking a 6% rise from the previous year.

From the 2017 revision to 2023, the guideline value increased by 49%. Overall, from the 2012 revision to the current 2024 revision, there has been a 6% increase. It is important to note that the register does not have figures for Kaniappa Reddy Street for the years 2002, 2003, and 2007.

Guideline values in Menambedu

In Menambedu, there are 171 streets under the Ambattur SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 6,680 per sq.ft, with a median value of Rs 1,003 per sq.ft. Kaniappa Reddy Street's 2024 guideline value is above this median.

• Kannan Koil Street: Rs 1,001 per sq.ft (2024)
• Kannappa Reddiar Street: Rs 1,700 per sq.ft (2024)
• Kambar Street: Rs 1,001 per sq.ft (2024)
• Kamathenu Street: Rs 1,700 per sq.ft (2024)
• Karukku Main Road: Rs 1,300 per sq.ft (2024)
• Karukku Main Road 1st Street: Rs 1,000 per sq.ft (2024)

Stamp duty and registration fee for property in Kaniappa Reddy Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,700 per sq.ft, the total guideline value is Rs 17,00,000. The stamp duty at 7% amounts to Rs 1,19,000, while the registration fee at 2% is Rs 34,000. Together, the total cost for stamp duty and registration fee is Rs 1,53,000. It is essential to note that the duty is charged on the higher of the guideline value or the sale price. For further details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kaniappa Reddy Street?

The Kaniappa Reddy Street falls under the jurisdiction of the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur - 600 053, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Menambedu. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property in the area.

When a property is registered, the guideline value is used to calculate the applicable fees, ensuring that the transaction is compliant with local regulations. Buyers and sellers should be aware of the current guideline value to understand the financial implications of their property dealings.

Frequently asked questions

What is the current guideline value of Kaniappa Reddy Street?

The current guideline value of Kaniappa Reddy Street is Rs 1,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, with the most recent increase being from Rs 1,600 per sq.ft in 2023 to Rs 1,700 per sq.ft in 2024. The value has also seen a significant rise from Rs 1,072 per sq.ft in 2017 to Rs 1,600 in 2023.

What is the land classification for Kaniappa Reddy Street?

Kaniappa Reddy Street is classified as Residential Special Type - I. This classification indicates the type of development permitted in the area.

Where is the Ambattur Sub Registrar Office located?

The Ambattur Sub Registrar Office is located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur - 600 053, Chennai registration zone.

How is stamp duty calculated for properties in Kaniappa Reddy Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property with a guideline value of Rs 17,00,000, the stamp duty at 7% would be Rs 1,19,000.