Guideline Value for Kannabiran Koil Street (PART)

Kannabiran Koil Street (PART) guideline value

The current guideline value of Kannabiran Koil Street (PART) is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Issa Pallavaram village, under the Pallavaram SRO, and is classified as Residential Class II Type - I.

How the guideline value of Kannabiran Koil Street (PART) has changed

The guideline value for Kannabiran Koil Street (PART) has seen several revisions over the years. In the 2012 revision, the value was set at Rs 2,000 per sq.ft. This figure remained unchanged until the 2017 revision, where it dropped to Rs 1,340 per sq.ft, marking a decrease of 33%. However, the value rose significantly in the following revisions, reaching Rs 2,000 per sq.ft in 2023 and then increasing to Rs 2,200 per sq.ft in 2024, which is a 10% increase from the previous year.

From the 2017 revision to 2023, the guideline value increased by 49%. Overall, from 2012 to 2024, the guideline value has increased by 10%. It is important to note that the register has no figures for Kannabiran Koil Street in the years 2002, 2003, and 2007.

Guideline values in Issa Pallavaram

In Issa Pallavaram, there are 110 streets under the Pallavaram SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 11,000 per sq.ft, with a median value of Rs 3,300 per sq.ft. The guideline value of Kannabiran Koil Street (PART) is below this median.

• Kambar Street: Rs 2,200 per sq.ft (2024)
• Kannan Street: Rs 2,200 per sq.ft (2024)
• Kamaraj Street: Rs 2,200 per sq.ft (2024)
• Kamaraj Nagar (1 To 4 Streets): Rs 2,200 per sq.ft (2024)
• Kamaraj Nagar: Rs 2,200 per sq.ft (2024)
• Kaji Saheb Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Kannabiran Koil Street (PART)

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, leading to a total cost of Rs 1,98,000. Please note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kannabiran Koil Street (PART)?

The Sub Registrar Office that covers Kannabiran Koil Street (PART) is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for further assistance.

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

The guideline value is a crucial factor in property transactions in Issa Pallavaram. It is used to determine the stamp duty and registration fees applicable during the sale or purchase of property. Buyers and sellers should be aware that the guideline value may differ from the actual sale price.

When registering a property, the higher value between the guideline value and the sale price is considered for calculating the stamp duty. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Kannabiran Koil Street (PART)?

The current guideline value of Kannabiran Koil Street (PART) is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then back to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,200 per sq.ft in 2024. Notably, there are no figures for the years 2002, 2003, and 2007.

What is the land classification of Kannabiran Koil Street (PART)?

Kannabiran Koil Street (PART) is classified as Residential Class II Type - I, indicating its suitability for residential purposes.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 and the registration fee would be Rs 44,000, totaling Rs 1,98,000. The duty is charged on the higher of the guideline value or the sale price.

Which office handles the registration for Kannabiran Koil Street (PART)?

The registration for Kannabiran Koil Street (PART) is handled by the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.