Guideline Value for Kannaiyan Street

Kannaiyan Street guideline value

The current guideline value of Kannaiyan Street is Rs 1,650 per sq.ft, effective from 1 July 2024. This street is located in Chitlapakkam village and falls under the Tambaram Joint 1 SRO. The land classification for this area is Residential Class I Type - III.

How the guideline value of Kannaiyan Street has changed

The guideline value for Kannaiyan Street has seen several revisions over the years. The 2012 revision set the value at Rs 1,500 per sq.ft, which was then decreased by 33% to Rs 1,005 per sq.ft in the 2017 revision. Following this, the value increased significantly by 49% to Rs 1,500 per sq.ft in 2023, and then rose by 10% to the current value of Rs 1,650 per sq.ft in 2024.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Chitlapakkam

In Chitlapakkam, there are 548 streets under the Tambaram Joint 1 SRO that have a 2024 guideline value ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median guideline value is Rs 1,650 per sq.ft, which is the same as that of Kannaiyan Street.

• Kannammal 2nd Street: Rs 1,650 per sq.ft (2024)
• Kannammal Street: Rs 2,750 per sq.ft (2024)
• Kannagi Street: Rs 2,750 per sq.ft (2024)
• Karthik Avenue: Rs 1,650 per sq.ft (2024)
• Karthik Avenue Annex: Rs 1,650 per sq.ft (2024)
• Kamban Street: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Kannaiyan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value amounts to Rs 16,50,000. The stamp duty at 7% would be 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 and the sale price.

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

Which Sub Registrar Office covers Kannaiyan Street?

The Sub Registrar Office that covers Kannaiyan Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, MES Road, East Tambaram, Chennai-600059, within the Chengalpattu registration zone.

You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Chitlapakkam, as it determines the minimum value at which properties can be registered. Buyers and sellers must consider the guideline value to ensure compliance with local regulations during the registration process.

When a property is sold, the stamp duty and registration fees are calculated 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 Kannaiyan Street?

The current guideline value of Kannaiyan 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 for Kannaiyan Street has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, then to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,650 per sq.ft in 2024.

What are the other streets in Chitlapakkam with similar guideline values?

Other streets in Chitlapakkam with a guideline value of Rs 1,650 per sq.ft include Kannammal 2nd Street, Karthik Avenue, and Karthik Avenue Annex.

How is stamp duty calculated for properties in Kannaiyan Street?

Stamp duty for properties in Kannaiyan Street is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 16,50,000, the stamp duty would be Rs 1,15,500.

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

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