Guideline Value for Kannabiran Street

Kannabiran Street guideline value

The current guideline value of Kannabiran Street is Rs 6,600 per sq.ft, effective from 1 July 2024. This street is located in Saligramam village and falls under the Virugambakkam SRO. The land classification for this street is Residential Special Type - II.

How the guideline value of Kannabiran Street has changed

The guideline value for Kannabiran Street has seen several revisions over the years. In the 2002 revision, the guideline value was Rs 412 per sq.ft. This increased to Rs 450 per sq.ft in 2003, marking a change of +9%. The value further rose to Rs 850 per sq.ft in 2007, which was a significant increase of +89%. The 2012 revision saw the value at Rs 6,000 per sq.ft, resulting in a substantial increase of +606% from 2007. However, in the 2017 revision, the value dropped to Rs 4,020 per sq.ft, reflecting a decrease of -33% from the previous year.

Following this, the guideline value increased to Rs 6,000 per sq.ft in the 2023 revision, which was an increase of +49%. The latest revision in 2024 set the guideline value at Rs 6,600 per sq.ft, marking a +10% increase from 2023. There are no figures available for the revisions in years other than those listed.

Guideline values in Saligramam

In Saligramam, there are 333 streets under the Virugambakkam SRO that carry a 2024 guideline value ranging from Rs 2,750 to Rs 13,200 per sq.ft, with a median value of Rs 4,400 per sq.ft. The guideline value of Kannabiran Street is above this median.

• Kannabiran Colony: Rs 6,600 per sq.ft (2024)
• Kandan Street: Rs 3,300 per sq.ft (2024)
• Kannammal Street: Rs 6,600 per sq.ft (2024)
• Kambar Street: Rs 4,400 per sq.ft (2024)
• Kanniamman Street: Rs 6,600 per sq.ft (2024)
• Kannikapuram: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Kannabiran Street

For a 1,000 sq.ft plot at the current guideline value of Rs 6,600 per sq.ft, the total guideline value would be Rs 66,00,000. The stamp duty at 7% would amount to Rs 4,62,000, and the registration fee at 2% would be Rs 1,32,000. Together, these fees would total Rs 5,94,000. It is important to 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 Street?

The Sub Registrar Office that covers Kannabiran Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more information.

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

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

When registering a property, the guideline value is compared to the sale price, and the duty is charged on the higher of the two. This ensures that the registration process reflects the true value of the property being transacted.

Frequently asked questions

What is the current guideline value of Kannabiran Street?

The current guideline value of Kannabiran Street is Rs 6,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 412 per sq.ft in 2002 to Rs 6,600 per sq.ft in 2024, reflecting an overall increase of +1502% over this period.

What is the land classification for Kannabiran Street?

Kannabiran Street is classified as Residential Special Type - II, which is important for understanding its usage and potential development.

Where can I find the Sub Registrar Office for Kannabiran Street?

The Sub Registrar Office for Kannabiran Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

How is the stamp duty calculated for properties in Kannabiran Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a 1,000 sq.ft property at the current guideline value, the total stamp duty would be Rs 4,62,000.