Guideline Value for Kannagi Street (3)

Kannagi Street (3) guideline value

The current guideline value of Kannagi Street (3) in Pozhichalur village is Rs 1,320 per sq.ft, effective from 1 July 2024. This street falls under the Pammal Sub Registrar Office (SRO) and is classified as Residential Class I Type - II.

How the guideline value of Kannagi Street (3) has changed

The guideline value for Kannagi Street (3) has seen several revisions over the years. In the 2017 revision, the value was Rs 804 per sq.ft, which increased to Rs 1,200 per sq.ft in the 2023 revision. The most recent revision in 2024 set the value at Rs 1,320 per sq.ft, marking a 10% increase from the previous year. Overall, from 2017 to 2024, the guideline value has risen by 64%.

There are no figures available for the revisions in 2002, 2003, 2007, and 2012 for this street. The changes in guideline value between the revisions indicate significant growth, especially between 2017 and 2023, where the increase was 49%.

Guideline values in Pozhichalur

In Pozhichalur, there are 299 streets under the Pammal SRO with a 2024 guideline value ranging from Rs 1,100 to Rs 4,500 per sq.ft. The median guideline value for these streets is Rs 1,320 per sq.ft, which is equal to the 2024 figure for Kannagi Street (3).

• Kannagi Street (12): Rs 1,320 per sq.ft (2024)
• Kannadasan Street: Rs 1,320 per sq.ft (2024)
• Kandaswamy Nagar: Rs 1,320 per sq.ft (2024)
• Karaunadhi Nagar: Rs 1,320 per sq.ft (2024)
• Karnan Nagar: Rs 1,320 per sq.ft (2024)
• Kambar Street: Rs 1,320 per sq.ft (2024)

Stamp duty and registration fee for property in Kannagi Street (3)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft, the total guideline value amounts to Rs 13,20,000. The stamp duty at 7% would be Rs 92,400, and the registration fee at 2% would be Rs 26,400, bringing the total to Rs 1,18,800. 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 further calculations.

Which Sub Registrar Office covers Kannagi Street (3)?

The Sub Registrar Office that covers Kannagi Street (3) is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the property registration process in Pozhichalur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the official valuation of the property. This value is especially important as it influences the financial obligations tied to the transaction, such as taxes and fees.

Frequently asked questions

What is the current guideline value of Kannagi Street (3)?

The current guideline value of Kannagi Street (3) is Rs 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 804 per sq.ft in 2017 to Rs 1,320 per sq.ft in 2024, reflecting an overall increase of 64% during this period.

What is the land classification for Kannagi Street (3)?

Kannagi Street (3) is classified as Residential Class I Type - II, indicating its suitability for residential development.

Where is the Pammal Sub Registrar Office located?

The Pammal Sub Registrar Office is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone.

How is stamp duty calculated for properties in Kannagi Street (3)?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 13,20,000, the stamp duty would be Rs 92,400 at a rate of 7%.