Guideline Value

Corporate

Guideline Value for Kannaki Street

₹2750/sq.ft.

The guideline value for Kannaki Street in Madipakkam-1 village (Velacheri SRO, Chennai zone) is Rs 2750 per sq.ft, effective 1 July 2024. It was Rs 2500 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Class I Type - Iii. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Madipakkam-1

Village

Velacheri

SRO

Residential Class I Type - III
History
Period Guideline Value
From 1-7-2024 ₹2750 /sq.ft.
From 1-4-2023 ₹2500 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹1675 /sq.ft.
From 1-4-2012 To 8-6-2017 N/A
From 1-8-2007 To 31-3-2012 N/A
From 1-4-2003 To 31-7-2007 N/A
From 1-4-2002 To 31-3-2003 N/A
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042
044-22553736
[email protected]

DRO (District Registrar Office)

Integrated Building For Offices Of The Commercial Taxes And Registration Department, Fanepet, Nandhanam, Chennai - 35.
044-22505552
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on Kannaki Street

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Kannaki Street guideline value

The current guideline value of Kannaki Street in Madipakkam-1 village is Rs 2,750 per sq.ft, effective from 1 July 2024. This street falls under the Velacheri SRO and is classified as Residential Class I Type - III.

How the guideline value of Kannaki Street has changed

Over the years, the guideline value of Kannaki Street has seen significant changes. The 2017 revision recorded a value of Rs 1,675 per sq.ft, which increased to Rs 2,500 per sq.ft in the 2023 revision. The latest revision in 2024 reflects a further increase to Rs 2,750 per sq.ft, marking a 10% rise from the previous year. It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2012.

From 2017 to 2023, the guideline value increased by 49%, and from 2017 to 2024, there has been an overall increase of 64%. This progression highlights the changes in the guideline value over the recent years.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1,823 streets under the Velacheri SRO, with the 2024 guideline values ranging from Rs 1,650 to Rs 5,500 per sq.ft. The median value across these streets is Rs 2,750 per sq.ft, which is equal to the guideline value of Kannaki Street.

Stamp duty and registration fee for property in Kannaki Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value amounts to Rs 27,50,000. The stamp duty, charged at 7%, would be Rs 1,92,500, and the registration fee at 2% would be Rs 55,000. Together, the total cost for stamp duty and registration fee would be Rs 2,47,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kannaki Street?

The Sub Registrar Office that covers Kannaki Street is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Madipakkam-1

The guideline value is a crucial factor in property transactions in Madipakkam-1. It is used to determine the stamp duty and registration fees during the registration process. Buyers and sellers must be aware of the guideline value to ensure compliance with legal requirements and to understand the financial implications of their transactions.

When a property is bought or sold, the guideline value serves as a benchmark for assessing the value of the property. This ensures that the taxes levied are based on a standardized valuation, providing transparency in property transactions.

Frequently asked questions

What is the current guideline value of Kannaki Street?

The current guideline value of Kannaki Street is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2017, the guideline value has increased from Rs 1,675 per sq.ft to Rs 2,750 per sq.ft in 2024, marking a total increase of 64% over this period.

What is the land classification for Kannaki Street?

Kannaki Street is classified as Residential Class I Type - III, according to the guidelines set by the Velacheri SRO.

What are the registration fees for a property in Kannaki Street?

The registration fees for a property in Kannaki Street include a stamp duty of 7% and a registration fee of 2%. For a 1,000 sq.ft plot, the total fees would amount to Rs 2,47,500.

Where is the Sub Registrar Office for Kannaki Street located?

The Velacheri Sub Registrar Office, which covers Kannaki Street, is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.