Guideline Value for Kannaki Nagar 3rd Street

Kannaki Nagar 3rd Street guideline value

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

How the guideline value of Kannaki Nagar 3rd Street has changed

Over the years, the guideline value for Kannaki Nagar 3rd Street has seen significant changes. In the 2007 revision, the value was Rs 700 per sq.ft, which increased dramatically to Rs 3,000 per sq.ft in 2012, marking a rise of 329%. The value remained unchanged at Rs 3,000 per sq.ft until the 2023 revision, when it increased to Rs 3,300 per sq.ft, reflecting a 10% increase.

From 2007 to 2024, the overall increase in guideline value is 371%, culminating in the current value of Rs 3,300 per sq.ft. Notably, there are no figures available for the years 2002, 2003, and 2017 for this street.

Guideline values in Kolathur

In Kolathur, there are 879 streets under the Sembiam SRO that carry a 2024 guideline value, ranging from Rs 2,200 to Rs 6,000 per sq.ft. The median guideline value for these streets is Rs 3,300 per sq.ft, which is the same as the current value for Kannaki Nagar 3rd Street.

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

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be 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 or the sale price.

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

Which Sub Registrar Office covers Kannaki Nagar 3rd Street?

The Sub Registrar Office that covers Kannaki Nagar 3rd 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 plays a crucial role in property transactions in Kolathur. When buying or selling a property, the guideline value is used to determine the stamp duty and registration fees that need to be paid at the time of registration. This ensures that the transaction is recorded at a value that reflects the current market conditions.

It is essential for buyers and sellers to be aware of the guideline value, as it can affect the overall cost of the transaction. Accurate knowledge of the guideline value helps in making informed decisions during property dealings.

Frequently asked questions

What is the current guideline value of Kannaki Nagar 3rd Street?

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

How 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, reflecting an overall increase of 371% over this period.

What are the stamp duty and registration fees for property in Kannaki Nagar 3rd Street?

For a 1,000 sq.ft plot, the total guideline value is Rs 33,00,000. The stamp duty at 7% is Rs 2,31,000, and the registration fee at 2% is Rs 66,000, totaling Rs 2,97,000.

Which Sub Registrar Office covers Kannaki Nagar 3rd Street?

The Sembiam Sub Registrar Office covers Kannaki Nagar 3rd Street, located at 5, Papermills Road, Sembiam, Chennai - 600011.

What is the land classification of Kannaki Nagar 3rd Street?

Kannaki Nagar 3rd Street is classified as Residential Class I Type - I, indicating its designation for residential use within the area.