Guideline Value for Kannagi Street

Kannagi Street guideline value

The current guideline value of Kannagi Street in Thalakanancherry village is Rs 3,900 per sq.ft, effective from 1 July 2024. This street falls under the Alandur SRO and is classified as Residential Class I Type - III.

How the guideline value of Kannagi Street has changed

The guideline value for Kannagi Street has seen several revisions over the years. The earliest recorded figure is from 2007, when it was Rs 800 per sq.ft. This value increased significantly to Rs 3,500 per sq.ft in 2012, marking a rise of 338%. However, it then dropped to Rs 2,345 per sq.ft in 2017, a decrease of 33%. The most recent revision in 2023 set the value at Rs 3,500 per sq.ft, which then increased to Rs 3,900 per sq.ft in 2024, reflecting an 11% change.

In total, from the 2007 revision to the 2024 revision, the guideline value has increased by 388%. It is important to note that there are no recorded figures for the years 2002 and 2003 for this street.

Guideline values in Thalakanancherry

Thalakanancherry village has a total of 318 streets under the Alandur SRO, with guideline values ranging from Rs 2,200 to Rs 5,500 per sq.ft. The median guideline value for these streets is Rs 3,900 per sq.ft, which is equal to the 2024 figure for Kannagi Street.

• Kannan Nagar: Rs 4,400 per sq.ft (2024)
• Kannan Nagar 1st Main Road: Rs 4,400 per sq.ft (2024)
• Kannan Nagar 2nd Cross Street: Rs 4,400 per sq.ft (2024)
• Kannan Nagar 2nd Main Road: Rs 4,400 per sq.ft (2024)
• Kannan Nagar 3rd Cross Street: Rs 4,400 per sq.ft (2024)
• Kannan Nagar 3rd Main Road: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Kannagi Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,900 per sq.ft, the total guideline value would be Rs 39,00,000. The stamp duty at 7% would amount to Rs 2,73,000, and the registration fee at 2% would be Rs 78,000, resulting in a total of Rs 3,51,000. 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 further calculations.

Which Sub Registrar Office covers Kannagi Street?

Kannagi Street is covered by the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for more information.

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

The guideline value is an essential factor in property transactions in Thalakanancherry. It is used to determine the stamp duty and registration fees during the sale or purchase of property. Buyers and sellers must be aware of the current guideline value to ensure compliance with legal requirements.

When registering a property, the guideline value serves as a baseline for calculating the costs involved. It is crucial for both parties to understand that the guideline value may differ from the sale price, and the higher amount will be used for duty calculations.

Frequently asked questions

What is the current guideline value of Kannagi Street?

The current guideline value of Kannagi Street is Rs 3,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 800 per sq.ft in 2007 to Rs 3,900 per sq.ft in 2024, showing a total increase of 388% over the years.

What is the land classification for Kannagi Street?

Kannagi Street is classified as Residential Class I Type - III under the Alandur SRO.

Where can I find the Alandur Sub Registrar Office?

The Alandur Sub Registrar Office is located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

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

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value would incur a total stamp duty of Rs 2,73,000.