Guideline Value for Kannai Koil Madha Street Ward 2

Kannai Koil Madha Street Ward 2 guideline value

The current guideline value of Kannai Koil Madha Street Ward 2 is Rs 350 per sq.ft, effective from 1 July 2024. This street is located in Acharapakkam village and falls under the Acchirapakkam SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Kannai Koil Madha Street Ward 2 has changed

Over the years, the guideline value for Kannai Koil Madha Street Ward 2 has seen several revisions. The 2007 revision set the value at Rs 72 per sq.ft, which increased significantly to Rs 250 per sq.ft in 2012. However, this value decreased by 33% to Rs 167 per sq.ft in the 2017 revision. The most notable change occurred between the 2017 and 2023 revisions, where the value jumped by 110% to Rs 350 per sq.ft, a figure that remained unchanged in the 2024 revision.

The guideline value register does not contain figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 386%.

Guideline values in Acharapakkam

In Acharapakkam, there are 61 streets under the Acchirapakkam SRO that carry a 2024 guideline value ranging from Rs 250 to Rs 600 per sq.ft. The median value among these streets is Rs 400 per sq.ft, placing the guideline value of Kannai Koil Madha Street Ward 2 below this median.

• Karimedu: Rs 400 per sq.ft (2024)
• Kasturi Nagar: Rs 400 per sq.ft (2024)
• Kazhani Vellala Colony (Palla Colony) Ward 2: Rs 250 per sq.ft (2024)
• Koil Santhu Street Ward 11: Rs 400 per sq.ft (2024)
• Kollaimedu Colony: Rs 250 per sq.ft (2024)
• Kothandaramar Nagar Ward 3: Rs 350 per sq.ft (2024)

Stamp duty and registration fee for property in Kannai Koil Madha Street Ward 2

For a 1,000 sq.ft plot at the current rate of Rs 350 per sq.ft, the guideline value amounts to Rs 3,50,000. The stamp duty at 7% would be Rs 24,500, and the registration fee at 2% would be Rs 7,000, totaling Rs 31,500. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kannai Koil Madha Street Ward 2?

The Sub Registrar Office that covers Kannai Koil Madha Street Ward 2 is the Acchirapakkam Sub Registrar Office, located at No.70, Bazzar Street, Acchirapakkam-603301, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Acharapakkam. It serves as a benchmark for determining the minimum value of a property for the purpose of calculating stamp duty and registration fees.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair value, preventing underreporting of property values. This helps maintain transparency and accountability in property transactions.

Frequently asked questions

What is the current guideline value of Kannai Koil Madha Street Ward 2?

The current guideline value of Kannai Koil Madha Street Ward 2 is Rs 350 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 72 per sq.ft in 2007 to Rs 350 per sq.ft in 2024, marking an overall increase of 386% over this period.

What is the median guideline value for streets in Acharapakkam?

The median guideline value for streets in Acharapakkam is Rs 400 per sq.ft, with Kannai Koil Madha Street Ward 2's value being below this median.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 3,50,000, the stamp duty would be Rs 24,500 and the registration fee would be Rs 7,000, totaling Rs 31,500.

Which office handles property registration for Kannai Koil Madha Street Ward 2?

The Acchirapakkam Sub Registrar Office handles property registration for Kannai Koil Madha Street Ward 2, located at No.70, Bazzar Street, Acchirapakkam-603301.