Guideline Value for Kannagi Street

Kannagi Street guideline value

The current guideline value of Kannagi Street is Rs 1,100 per sq.ft, effective from 1 July 2024. This street is located in Kathirvedu village under the Ambattur SRO, classified as Residential Class IV Type - I.

How the guideline value of Kannagi Street has changed

The guideline value for Kannagi Street has seen significant changes over the years. In 2002, the value was Rs 63 per sq.ft, which increased to Rs 90 per sq.ft in 2003, marking a 43% rise. By 2007, the value jumped to Rs 200 per sq.ft, a remarkable increase of 122%. The 2012 revision saw the value rise to Rs 1,000 per sq.ft, reflecting a 400% increase from the previous revision. However, in 2017, the value decreased to Rs 670 per sq.ft, a drop of 33%. The 2023 revision brought the value back up to Rs 1,000 per sq.ft, and finally, the current guideline value for 2024 is Rs 1,100 per sq.ft, representing a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 1646%. There are no figures available for the revisions in years other than those listed.

Guideline values in Kathirvedu

Kathirvedu village has 78 streets under the Ambattur SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 6,000 per sq.ft, with a median value of Rs 1,500 per sq.ft. Kannagi Street's 2024 guideline value is below this median.

• Kiruba Nagar: Rs 1,300 per sq.ft (2024)
• J.P. Nagar Extension: Rs 2,200 per sq.ft (2024)
• J.P. Nagar: Rs 2,200 per sq.ft (2024)
• John Victor Street: Rs 1,100 per sq.ft (2024)
• Jayavel Nagar: Rs 1,300 per sq.ft (2024)
• Jai Maruthi Nagar Annex: Rs 2,700 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 1,100 per sq.ft, the total guideline value would be Rs 11,00,000. The stamp duty at 7% would amount to Rs 77,000, and the registration fee at 2% would be Rs 22,000, totaling Rs 99,000. It is important to note that 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 details.

Which Sub Registrar Office covers Kannagi Street?

The Sub Registrar Office that covers Kannagi Street is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur - 600 053, Chennai registration zone. You can find your SRO here.

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

The guideline value is a crucial factor when registering property in Kathirvedu. It determines the minimum value at which the property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value serves as a reference point for both buyers and sellers. It is essential to be aware of the current guideline value to ensure compliance with registration requirements and to understand the financial implications involved in the transaction.

Frequently asked questions

What is the current guideline value of Kannagi Street?

The current guideline value of Kannagi Street is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 63 per sq.ft in 2002 to Rs 1,100 per sq.ft in 2024, reflecting an overall increase of 1646% over this period.

What is the stamp duty rate for properties in Kannagi Street?

The stamp duty rate for properties in Kannagi Street is 7% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Kannagi Street located?

The Sub Registrar Office for Kannagi Street is located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur - 600 053, Chennai registration zone.

What are the other streets in Kathirvedu with guideline values?

Other streets in Kathirvedu include Kiruba Nagar, J.P. Nagar Extension, J.P. Nagar, John Victor Street, Jayavel Nagar, and Jai Maruthi Nagar Annex, each with varying guideline values.