Guideline Value for Kannaki Nagar 2nd Street

Kannaki Nagar 2nd Street guideline value

The current guideline value of Kannaki Nagar 2nd Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Kolathur village under the Sembiam SRO, classified as Residential Class I Type - I.

How the guideline value of Kannaki Nagar 2nd Street has changed

The guideline value for Kannaki Nagar 2nd Street has undergone several revisions over the years. In 2007, the value was set at Rs 700 per sq.ft, which increased significantly to Rs 3,000 per sq.ft in both the 2012 and 2023 revisions. The most recent revision in 2024 has raised the value to Rs 3,300 per sq.ft, marking a 10% increase from the previous year's rate.

Notably, there are no recorded figures for the years 2002, 2003, and 2017 in the register for this street. Overall, from 2007 to 2024, the guideline value has increased by 371%.

Guideline values in Kolathur

In Kolathur, there are 879 streets under the Sembiam SRO, with guideline values ranging from Rs 2,200 to Rs 6,000 per sq.ft. The median guideline value is Rs 3,300 per sq.ft, which is the same as the current value for Kannaki Nagar 2nd Street.

• Kannaki Nagar 1st Street: Rs 3,300 per sq.ft (2024)
• Kannaki Nagar 3rd Street: Rs 3,300 per sq.ft (2024)
• Kannaki Nagar 4th Street: Rs 3,300 per sq.ft (2024)
• Kannaki Nagar 5th Street: Rs 3,300 per sq.ft (2024)
• Kannaki Street: Rs 2,700 per sq.ft (2024)
• Kambar Nagar 9th Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Kannaki Nagar 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty calculated at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. 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 Kannaki Nagar 2nd Street?

The Sub Registrar Office that covers Kannaki Nagar 2nd Street is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Kolathur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid at the time of registration.

When buying or selling property, the guideline value helps ensure that the transaction is recorded accurately and that the appropriate fees are collected based on the value of the property being transferred.

Frequently asked questions

What is the current guideline value of Kannaki Nagar 2nd Street?

The current guideline value of Kannaki Nagar 2nd Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed from Rs 700 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, marking an overall increase of 371% over the years.

What are the stamp duty and registration fees for property in Kannaki Nagar 2nd Street?

For a 1,000 sq.ft plot, the total guideline value is Rs 33,00,000. The stamp duty would be Rs 2,31,000, and the registration fee would be Rs 66,000, totaling Rs 2,97,000.

Which office handles registrations for Kannaki Nagar 2nd Street?

The Sembiam Sub Registrar Office handles registrations for Kannaki Nagar 2nd Street, located at 5, Papermills Road, Sembiam, Chennai - 600011.

What is the significance of the guideline value in property transactions?

The guideline value is used to determine the stamp duty and registration fees during property transactions. It ensures that the transaction is recorded accurately and that the appropriate fees are paid based on the property's value.