Guideline Value for Kannagi Street

Kannagi Street guideline value

The current guideline value of Kannagi Street in Tondaiarpet village, under the Royapuram SRO, is Rs 1,300 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class II Type - I land classification.

How the guideline value of Kannagi Street has changed

The guideline value for Kannagi Street has seen significant revisions over the years. The 2017 revision set the value at Rs 804 per sq.ft, which increased to Rs 1,200 per sq.ft in the 2023 revision, marking a 49% rise. The latest revision in 2024 has further increased the value to Rs 1,300 per sq.ft, reflecting an 8% increase from the previous year.

There are no recorded figures for the revisions in 2002, 2003, 2007, and 2012 for this street. Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 62%.

Guideline values in Tondaiarpet

In Tondaiarpet, there are 1,384 streets under the Royapuram SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 10,100 per sq.ft. The median guideline value for these streets is Rs 1,600 per sq.ft, indicating that the guideline value for Kannagi Street is below this median.

• Kannagi Nagar Pandiyan Street: Rs 1,300 per sq.ft (2024)
• Kannagi Nagar Manimegalai Street: Rs 1,300 per sq.ft (2024)
• Kannagi Nagar Madavi Street: Rs 1,300 per sq.ft (2024)
• Kannagi Nagar Kovalan Street: Rs 1,300 per sq.ft (2024)
• Kannagi Nagar Elango Street: Rs 1,300 per sq.ft (2024)
• Kannan Street: Rs 2,200 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 1,300 per sq.ft, the total guideline value would be Rs 13,00,000. The stamp duty at 7% would amount to Rs 91,000, and the registration fee at 2% would be Rs 26,000, bringing the total fees to Rs 1,17,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information on calculating fees, 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 Royapuram Sub Registrar Office, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021. You can find your SRO for more details.

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

The guideline value plays a crucial role in property transactions in Tondaiarpet. When buying or selling property, the guideline value is used to determine the stamp duty and registration fees that need to be paid during the registration process.

It is essential for buyers and sellers to be aware of the current guideline value to ensure that they comply with legal requirements and understand the financial implications of their transactions.

Frequently asked questions

What is the current guideline value of Kannagi Street?

The current guideline value of Kannagi Street is Rs 1,300 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since 2017, the guideline value has increased from Rs 804 per sq.ft to Rs 1,300 per sq.ft in 2024, which is an overall increase of 62%.

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

For a property valued at Rs 13,00,000, the stamp duty would be Rs 91,000 and the registration fee would be Rs 26,000, totaling Rs 1,17,000.

Which Sub Registrar Office covers Kannagi Street?

The Royapuram Sub Registrar Office covers Kannagi Street, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021.

Where can I find more information about guideline values in Tondaiarpet?

For more details on guideline values, you can refer to the Registration Department's guideline value register (TNReginet) or visit the relevant links provided for other streets in Tondaiarpet.