Guideline Value for Kannaki Street

Kannaki Street guideline value

The current guideline value of Kannaki Street in Manimangalam A village, under the Padappai SRO, is Rs 880 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class I Type - I land classification.

How the guideline value of Kannaki Street has changed

The guideline value for Kannaki Street has undergone several revisions over the years. The most recent revision in 2024 set the value at Rs 880 per sq.ft, an increase from the 2023 revision of Rs 800 per sq.ft, marking a 10% rise. Prior to that, in 2017, the guideline value was Rs 536 per sq.ft, which means there was a significant increase of 49% to reach the 2023 figure. Overall, from 2017 to 2024, the guideline value has increased by 64%.

It is important to note that the register has no figures for Kannaki Street for the years 2002, 2003, 2007, and 2012. This absence of data indicates that the guideline value was not recorded for these years.

Guideline values in Manimangalam A

In Manimangalam A, there are 112 streets under the Padappai SRO that carry a 2024 guideline value ranging from Rs 550 to Rs 2,500 per sq.ft. The median value among these streets is Rs 880 per sq.ft, which is equal to the guideline value of Kannaki Street.

• Kani Nagar Extn: Rs 880 per sq.ft (2024)
• Kani Nagar: Rs 880 per sq.ft (2024)
• Karuneegar Street: Rs 880 per sq.ft (2024)
• Kamarajar Street: Rs 880 per sq.ft (2024)
• Katchery Mettu Street: Rs 880 per sq.ft (2024)
• Kalathu Mettu Street: Rs 880 per sq.ft (2024)

Stamp duty and registration fee for property in Kannaki Street

For a 1,000 sq.ft plot at the current guideline value of Rs 880 per sq.ft, the total guideline value amounts to Rs 8,80,000. The stamp duty at 7% would be Rs 61,600, and the registration fee at 2% would be Rs 17,600, bringing the total cost for these fees to Rs 79,200. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kannaki Street?

The Sub Registrar Office that covers Kannaki Street is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor during the registration of property transactions in Manimangalam A. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the transaction is documented accurately in accordance with government regulations.

When buying or selling property, the guideline value helps in calculating the applicable stamp duty and registration fees, which are essential for the legal transfer of property ownership. This ensures that both buyers and sellers are aware of the financial obligations involved in the transaction.

Frequently asked questions

What is the current guideline value of Kannaki Street?

The current guideline value of Kannaki Street is Rs 880 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed since 2017?

Since 2017, the guideline value of Kannaki Street has increased by 64%, from Rs 536 per sq.ft to Rs 880 per sq.ft as of 2024.

What was the guideline value in 2023?

The guideline value in 2023 for Kannaki Street was Rs 800 per sq.ft, which was an increase from the previous value in 2017.

What are the other streets with the same guideline value in Manimangalam A?

Other streets in Manimangalam A with a guideline value of Rs 880 per sq.ft in 2024 include Kani Nagar Extn, Kani Nagar, Karuneegar Street, Kamarajar Street, Katchery Mettu Street, and Kalathu Mettu Street.

Where is the Padappai Sub Registrar Office located?

The Padappai Sub Registrar Office is located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.