Guideline Value for Kannagi Street

Kannagi Street guideline value

The current guideline value of Kannagi Street in Padiyanallur village is Rs 1,320 per sq.ft, effective from 1 July 2024. This street falls under the Redhills SRO and is classified as Residential Special 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 2003, the guideline value was Rs 171 per sq.ft, which increased to Rs 400 per sq.ft in 2007, marking a 134% rise. By 2012, the value rose to Rs 1,200 per sq.ft, reflecting a 200% increase from the previous revision. However, this value decreased by 33% to Rs 804 per sq.ft in 2017. The guideline value then saw a substantial increase of 49% to reach Rs 1,200 per sq.ft in 2023, before rising again by 10% to the current value of Rs 1,320 per sq.ft in 2024.

It is important to note that there is no figure available for the year 2002 in the register for this street. Overall, from 2003 to 2024, the guideline value has increased by 672%.

Guideline values in Padiyanallur

Padiyanallur village has a total of 132 streets under the Redhills SRO that carry a 2024 guideline value, ranging from Rs 385 to Rs 2,750 per sq.ft. The median guideline value for these streets is Rs 770 per sq.ft, placing Kannagi Street's 2024 value above this median.

• Kannadasan Street: Rs 770 per sq.ft (2024)
• Kanniamman Koil Street (PANNEERVAKKAM): Rs 385 per sq.ft (2024)
• Kambar Street (Bhavani Nagar): Rs 770 per sq.ft (2024)
• Kambar Street: Rs 770 per sq.ft (2024)
• Karikalan Nagar: Rs 1,320 per sq.ft (2024)
• karikalvalavan Street (Bhavani Nagar): Rs 770 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 1,320 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 fees together to Rs 1,18,800. It is important to note that duty is charged on the higher of the guideline value and the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kannagi Street?

The Sub Registrar Office that covers Kannagi Street is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more details.

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

The guideline value plays a crucial role when buying or selling property in Padiyanallur. It is used to determine the applicable stamp duty and registration fees during the registration process. Buyers and sellers must be aware of the guideline value to ensure compliance with legal requirements and to accurately assess the financial implications of their property transactions.

When registering a property, the guideline value is compared with the sale price, and the higher of the two is used to calculate the stamp duty. This ensures that the government receives the appropriate revenue based on the property's value.

Frequently asked questions

What is the current guideline value of Kannagi Street?

The current guideline value of Kannagi Street 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 changed significantly from Rs 171 per sq.ft in 2003 to Rs 1,320 per sq.ft in 2024, marking an overall increase of 672% over this period.

What is the registration office for Kannagi Street?

The registration office for Kannagi Street is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

What are the stamp duty and registration fees for properties in Kannagi Street?

For a 1,000 sq.ft plot, the total guideline value is Rs 13,20,000, with stamp duty at Rs 92,400 and registration fees at Rs 26,400, totaling Rs 1,18,800.

Are there other streets in Padiyanallur with guideline values?

Yes, there are several other streets in Padiyanallur with guideline values ranging from Rs 385 to Rs 2,750 per sq.ft, with the median being Rs 770 per sq.ft.