Guideline Value for Kannagi Street

Kannagi Street guideline value

The current guideline value of Kannagi Street in Peerklankaranai village is Rs 1,650 per sq.ft, effective from 1 July 2024. This street falls under the Tambaram Joint 1 SRO and is classified as Residential Class I Type - II.

How the guideline value of Kannagi Street has changed

The guideline value for Kannagi Street has seen several revisions over the years. The 2012 revision set the value at Rs 1,500 per sq.ft, which was then reduced to Rs 1,005 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 1,500 per sq.ft, and the most recent 2024 revision raised it further to Rs 1,650 per sq.ft, marking a 10% increase from the previous year.

In terms of percentage changes, the guideline value increased by 49% from 2017 to 2023. However, there was a significant decrease of 33% from 2012 to 2017. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007.

Guideline values in Peerklankaranai

Peerklankaranai has a total of 322 streets under the Tambaram Joint 1 SRO, with the 2024 guideline values ranging from Rs 880 to Rs 4,400 per sq.ft. The median guideline value for the village is Rs 1,650 per sq.ft, which is equal to the current value of Kannagi Street.

• Kannadasan Street Ext: Rs 1,100 per sq.ft (2024)
• Kannadasan Street: Rs 1,100 per sq.ft (2024)
• Kannadasan Cross street: Rs 1,100 per sq.ft (2024)
• Kannan Street: Rs 1,650 per sq.ft (2024)
• Kanagambaram Street: Rs 1,320 per sq.ft (2024)
• Kambar Street: Rs 1,320 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 1,650 per sq.ft, the total guideline value would be Rs 16,50,000. The stamp duty at 7% would amount to Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total to Rs 1,48,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can calculate your stamp duty and registration fees using the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kannagi Street?

The Sub Registrar Office covering Kannagi Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Peerklankaranai. It serves as a benchmark for determining the value of the property, which in turn affects the stamp duty and registration fees payable during the transaction.

When a property is sold, the guideline value ensures that the transaction is registered at a fair value, preventing undervaluation. This is essential for maintaining transparency and integrity in property transactions.

Frequently asked questions

What is the current guideline value of Kannagi Street?

The current guideline value of Kannagi Street is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,650 per sq.ft in 2024, with notable fluctuations in between, including a decrease to Rs 1,005 per sq.ft in 2017 and an increase to Rs 1,500 per sq.ft in 2023.

What is the land classification for Kannagi Street?

Kannagi Street is classified as Residential Class I Type - II under the current guidelines.

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

The Sub Registrar Office for Kannagi Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059.

How is stamp duty calculated for properties on Kannagi Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For instance, a 1,000 sq.ft property at the current rate would incur a total cost of Rs 1,48,500 in stamp duty and registration fees.