Guideline Value for Kannaki Nagar 5th Street

Kannaki Nagar 5th Street guideline value

The current guideline value of Kannaki Nagar 5th 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 5th Street has changed

The guideline value for Kannaki Nagar 5th Street has undergone several revisions over the years. The oldest recorded figure is from 2007, where the guideline value was Rs 700 per sq.ft. This value saw a significant increase 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, when it was raised to Rs 3,300 per sq.ft, reflecting a +10% increase.

As of the latest revision in 2024, the guideline value stands at Rs 3,300 per sq.ft. Overall, from 2007 to 2024, there has been a total increase of +371% in the guideline value for this street. There are no figures available for the years 2002, 2003, and 2017 in the register 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 the area is Rs 3,300 per sq.ft, which is equal to the current figure for Kannaki Nagar 5th Street.

• Kannaki Nagar 4th Street: Rs 3,300 per sq.ft (2024)
• Kannaki Nagar 3rd 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 5th Street

For a 1,000 sq.ft plot at the current rate of Rs 3,300 per sq.ft, the 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 guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kannaki Nagar 5th Street?

The Sub Registrar Office that covers Kannaki Nagar 5th 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 in the registration process for property transactions in Kolathur. It serves as a benchmark for determining the minimum value at which properties must be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value is compared with the sale price. The higher of the two values is used to calculate the applicable stamp duty and registration fees, which are mandatory for completing the transaction legally.

Frequently asked questions

What is the current guideline value of Kannaki Nagar 5th Street?

The current guideline value of Kannaki Nagar 5th 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 increased 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 5th Street?

For a property valued at 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 Sub Registrar Office covers Kannaki Nagar 5th Street?

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

What is the land classification for Kannaki Nagar 5th Street?

The land classification for Kannaki Nagar 5th Street is Residential Class I Type - I.