Guideline Value for Kannabiran Koil Street

Kannabiran Koil Street guideline value

The current guideline value of Kannabiran Koil Street is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Peravallur village, under the Sembiam SRO, and is classified as Residential Class I Type - I.

How the guideline value of Kannabiran Koil Street has changed

The guideline value for Kannabiran Koil Street has undergone several revisions over the years. In 2002, the value was Rs 382 per sq.ft, which increased to Rs 416 per sq.ft in 2003. The value saw a significant rise to Rs 800 per sq.ft in 2007, followed by a jump to Rs 2,500 per sq.ft in 2012. However, it decreased to Rs 1,675 per sq.ft in 2017 before rising again to Rs 2,500 per sq.ft in 2023. The most recent revision in 2024 set the guideline value at Rs 2,700 per sq.ft.

Between these revisions, the changes were notable. From 2002 to 2003, there was an increase of 9%. The value rose by 92% from 2003 to 2007. The leap from 2007 to 2012 was 213%, followed by a decrease of 33% from 2012 to 2017. The value then increased by 49% from 2017 to 2023. The jump from 2023 to 2024 is 8%. Overall, from 2002 to 2024, the guideline value has increased by 607%.

Guideline values in Peravallur

In Peravallur, there are 423 streets under the Sembiam SRO that carry a 2024 guideline value, ranging from Rs 2,200 to Rs 7,100 per sq.ft. The median value for these streets is Rs 3,301 per sq.ft, making the guideline value of Kannabiran Koil Street below that median.

• Kandasamy Salai: Rs 2,700 per sq.ft (2024)
• Kannaker Street: Rs 2,700 per sq.ft (2024)
• Kannappar Street: Rs 2,700 per sq.ft (2024)
• Kanniappan Street (Vetri Nagar): Rs 3,300 per sq.ft (2024)
• Kamaraj Nagar 3rd Cross Street: Rs 2,700 per sq.ft (2024)
• Kamaraj Nagar 2nd Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Kannabiran Koil Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value would be Rs 27,00,000. The stamp duty at 7% would amount to Rs 1,89,000, and the registration fee at 2% would be Rs 54,000. Together, the total cost for stamp duty and registration fee would be Rs 2,43,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kannabiran Koil Street?

The Sub Registrar Office that covers Kannabiran Koil Street is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. For more information, you can find your SRO.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Peravallur. It is the minimum value set by the government for property transactions, and it is used to calculate the stamp duty and registration fees applicable to the transaction.

When a property is sold, the buyer must pay stamp duty based on the higher of the guideline value or the sale price. This ensures that the government receives the appropriate revenue from property transactions, regardless of the actual sale price.

Frequently asked questions

What is the current guideline value of Kannabiran Koil Street?

The current guideline value of Kannabiran Koil Street is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, starting from Rs 382 per sq.ft in 2002 to Rs 2,700 per sq.ft in 2024, showing a significant overall increase of 607% over the years.

What is the classification of land on Kannabiran Koil Street?

Kannabiran Koil Street is classified as Residential Class I Type - I.

What are the other streets in Peravallur with the same guideline value?

Other streets in Peravallur with a guideline value of Rs 2,700 per sq.ft include Kandasamy Salai, Kannaker Street, Kannappar Street, Kamaraj Nagar 3rd Cross Street, and Kamaraj Nagar 2nd Street.

Where can I find the Sembiam Sub Registrar Office?

The Sembiam Sub Registrar Office is located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find more details by visiting the relevant link.