Guideline Value for Kannaki Nagar 4th Street

Kannaki Nagar 4th Street guideline value

The current guideline value of Kannaki Nagar 4th Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Kolathur village and falls under the Sembiam SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Kannaki Nagar 4th Street has changed

The guideline value for Kannaki Nagar 4th Street has undergone several revisions over the years. The earliest recorded revision was in 2007, where the guideline value was Rs 700 per sq.ft. This increased significantly to Rs 3,000 per sq.ft in 2012, marking a change of +329%. The value remained unchanged at Rs 3,000 per sq.ft until the next revision in 2023, which also did not see any increase. However, in 2024, the guideline value rose to Rs 3,300 per sq.ft, reflecting a +10% change from the previous year.

It is important to note that there are no figures available for the revisions in 2002, 2003, and 2017 for this street. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by +371%.

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 4th Street.

• Kannaki Nagar 3rd Street: Rs 3,300 per sq.ft (2024)
• Kannaki Nagar 5th Street: Rs 3,300 per sq.ft (2024)
• Kannaki Nagar 2nd Street: Rs 3,300 per sq.ft (2024)
• Kannaki Nagar 1st 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 4th 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 at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000. Together, these fees would total 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.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Kannaki Nagar 4th Street?

The Sub Registrar Office that covers Kannaki Nagar 4th Street is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. For more information, you can find your SRO.

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

The guideline value is a critical factor when registering property transactions in Kolathur. It serves as the basis for calculating the stamp duty and registration fees, ensuring that these fees are aligned with the official valuation of the property.

When buying or selling property, it is essential to be aware of the guideline value, as it can impact the overall cost of the transaction. Buyers should ensure that they are informed about the current guideline values to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value for Kannaki Nagar 4th Street?

The current guideline value for Kannaki Nagar 4th 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 the years.

What is the registration office for Kannaki Nagar 4th Street?

The registration office for Kannaki Nagar 4th Street is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011.

How is the stamp duty calculated for properties in this area?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 at a rate of 7%.

What are the other streets in Kolathur with the same guideline value?

Other streets in Kolathur with the same guideline value of Rs 3,300 per sq.ft include Kannaki Nagar 1st, 2nd, 3rd, and 5th Streets, as well as Kambar Nagar 9th Street.