Guideline Value for Kannagi Street

Kannagi Street guideline value

The current guideline value of Kannagi Street in Ekkaduthangal village is Rs 3,520 per sq.ft, effective from 1 July 2024. This street falls under the Chennai South Joint I SRO and is classified as Residential Class III Type - I.

How the guideline value of Kannagi Street has changed

In the 2012 revision, the guideline value was set at Rs 3,200 per sq.ft. This figure saw a significant drop in the 2017 revision to Rs 2,144 per sq.ft, reflecting a decrease of 33%. The value then increased to Rs 3,200 per sq.ft in the 2023 revision, followed by a rise to the current value of Rs 3,520 per sq.ft in the 2024 revision, marking a 10% increase.

From 2017 to 2023, the guideline value rose by 49%. Overall, from the 2012 revision to the 2024 revision, there has been a 10% increase in the guideline value. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Ekkaduthangal

In Ekkaduthangal, there are 190 streets under the Chennai South Joint I SRO that carry a 2024 guideline value ranging from Rs 3,080 to Rs 8,800 per sq.ft. The median guideline value in this area is Rs 4,620 per sq.ft, indicating that Kannagi Street's current value is below this median.

• Kannadasan Street: Rs 3,080 per sq.ft (2024)
• Kannan Street: Rs 3,520 per sq.ft (2024)
• Kamatchiamman Koil Street: Rs 3,520 per sq.ft (2024)
• Karpa Vinayagar Koil Street: Rs 3,520 per sq.ft (2024)
• Karunai Street: Rs 3,080 per sq.ft (2024)
• Kasthuribai Gandhi Nagar: Rs 4,620 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 3,520 per sq.ft, the total guideline value amounts to Rs 35,20,000. The stamp duty at 7% would be Rs 2,46,400, and the registration fee at 2% would be Rs 70,400, bringing the total cost to Rs 3,16,800. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kannagi Street?

Kannagi Street is covered by the Chennai South Joint I Sub Registrar Office. The office is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more details.

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

The guideline value is a crucial factor when buying or selling property in Ekkaduthangal. It serves as a benchmark for calculating the stamp duty and registration fees that are applicable during the registration process.

When a property is sold, the guideline value is used to determine the minimum sale price for the transaction. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Kannagi Street?

The current guideline value of Kannagi Street is Rs 3,520 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,200 per sq.ft in 2012 to Rs 2,144 per sq.ft in 2017, then back to Rs 3,200 per sq.ft in 2023, and finally to Rs 3,520 per sq.ft in 2024.

What is the land classification for Kannagi Street?

Kannagi Street is classified as Residential Class III Type - I under the Chennai South Joint I SRO.

What are the stamp duty rates for properties in Kannagi Street?

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

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

The Sub Registrar Office covering Kannagi Street is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.