Guideline Value for Kannairam Street, Sivasankaran Nagar

Kannairam Street, Sivasankaran Nagar guideline value

The current guideline value of Kannairam Street, Sivasankaran Nagar is Rs 1,980 per sq.ft, effective from 1 July 2024. This street is located in Pammal village and falls under the Pammal SRO. The land classification for this area is Residential Class II Type - II.

How the guideline value of Kannairam Street, Sivasankaran Nagar has changed

The guideline value for Kannairam Street has seen several revisions over the years. The most recent revision in 2024 set the value at Rs 1,980 per sq.ft, which is an increase of 10% from the 2023 revision of Rs 1,800 per sq.ft. The previous revision in 2017 recorded a guideline value of Rs 1,206 per sq.ft, marking a significant increase of 49% to the 2023 figure. It is important to note that the register has no figure for this street for the years 2002, 2003, 2007, and 2012.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. This consistent rise reflects changes in the valuation of properties in the area, with the latest figure being the highest recorded for Kannairam Street.

Guideline values in Pammal

Pammal village features a total of 926 streets under the Pammal SRO, with guideline values ranging from Rs 880 to Rs 3,300 per sq.ft. The median guideline value for these streets is Rs 2,090 per sq.ft, placing Kannairam Street's 2024 figure below this median.

• Kannaiyeram Street /Nagalkeni: Rs 1,980 per sq.ft (2024)
• Kannageyi Street /V.O.C.Nagar: Rs 2,750 per sq.ft (2024)
• Kannageyi Street /Shivashankaran Nagar: Rs 1,980 per sq.ft (2024)
• Kannageyi Street /Ponni Nagar: Rs 1,980 per sq.ft (2024)
• Kannageyi Street /Muthamzhi Nagar: Rs 2,475 per sq.ft (2024)
• Kannageyi Street (Gandhi Nagar): Rs 2,475 per sq.ft (2024)

Stamp duty and registration fee for property in Kannairam Street, Sivasankaran Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,980 per sq.ft, the total guideline value amounts to Rs 19,80,000. The stamp duty at 7% would be Rs 1,38,600, and the registration fee at 2% would be Rs 39,600, bringing the total fees together to Rs 1,78,200. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kannairam Street, Sivasankaran Nagar?

The Sub Registrar Office that covers Kannairam Street, Sivasankaran Nagar is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Pammal. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction reflects a fair value as per government standards.

When a property is registered, the buyer is required to pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Kannairam Street, Sivasankaran Nagar?

The current guideline value of Kannairam Street, Sivasankaran Nagar is Rs 1,980 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 1,206 per sq.ft in 2017 to Rs 1,980 per sq.ft in 2024, marking an overall increase of 64% over this period.

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

For a 1,000 sq.ft plot, the total guideline value is Rs 19,80,000. The stamp duty at 7% is Rs 1,38,600, and the registration fee at 2% is Rs 39,600, totaling Rs 1,78,200.

What is the land classification for Kannairam Street?

The land classification for Kannairam Street, Sivasankaran Nagar is Residential Class II Type - II.

Which office handles registrations for Kannairam Street?

The Pammal Sub Registrar Office handles registrations for Kannairam Street, Sivasankaran Nagar, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.