Guideline Value for Kannagi Street (JPT)

Kannagi Street (JPT) guideline value

The current guideline value of Kannagi Street (JPT) is Rs 4,900 per sq.ft, effective from 1 July 2024. This street is located in Kodambakkam village, under the Ashok Nagar SRO, classified as Residential Class III Type - II.

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

Over the years, the guideline value of Kannagi Street (JPT) has seen significant changes. The 2007 revision recorded a value of Rs 800 per sq.ft, which dramatically increased to Rs 4,500 per sq.ft in 2012, marking a rise of 463%. The value remained unchanged at Rs 4,500 per sq.ft from 2012 to the 2023 revision. However, in the 2024 revision, the guideline value increased to Rs 4,900 per sq.ft, reflecting a 9% increase from the previous year.

In summary, the overall increase from the 2007 revision to the 2024 revision is an impressive 513%. Notably, there are no figures available for the revisions in 2002, 2003, and 2017 for this street.

Guideline values in Kodambakkam

Kodambakkam village features a diverse range of guideline values, with 1,031 streets under the Ashok Nagar SRO carrying values ranging from Rs 2,200 to Rs 11,000 per sq.ft. The median guideline value is Rs 4,900 per sq.ft, which aligns with the 2024 figure for Kannagi Street (JPT).

• Kannagi Street (M.G.R.Nagar): Rs 3,300 per sq.ft (2024)
• Kannagi street (Thiru Nagar): Rs 4,900 per sq.ft (2024)
• Kannadhasan Street: Rs 3,300 per sq.ft (2024)
• Kannadhasan (Cross Street): Rs 3,300 per sq.ft (2024)
• Kannammal Street: Rs 4,100 per sq.ft (2024)
• Kannappar Salai: Rs 7,600 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current rate of Rs 4,900 per sq.ft, the guideline value amounts to Rs 49,00,000. The stamp duty at 7% would be Rs 3,43,000, and the registration fee at 2% would be Rs 98,000, bringing the total to Rs 4,41,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more accurate estimates.

Which Sub Registrar Office covers Kannagi Street (JPT)?

The Sub Registrar Office that covers Kannagi Street (JPT) is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By Nolambur Eb Office). You can find your SRO for further assistance.

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

The guideline value plays a crucial role during property registration in Kodambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring transparency in property transactions.

When buying or selling property, the guideline value is used to calculate applicable stamp duty and registration fees. Buyers should be aware that these fees are based on the higher of the guideline value or the actual sale price.

Frequently asked questions

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

The current guideline value of Kannagi Street (JPT) is Rs 4,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 800 per sq.ft in 2007 to Rs 4,900 per sq.ft in 2024, showing a total increase of 513% over the years.

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

Kannagi Street (JPT) is classified as Residential Class III Type - II.

What other streets have guideline values in Kodambakkam?

Other streets in Kodambakkam include Kannagi Street (M.G.R.Nagar) at Rs 3,300 per sq.ft, Kannagi street (Thiru Nagar) at Rs 4,900 per sq.ft, and Kannadhasan Street at Rs 3,300 per sq.ft, among others.

Where can I find the Sub Registrar Office for Kannagi Street (JPT)?

The Sub Registrar Office for Kannagi Street (JPT) is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.