Guideline Value for Kannaki Street

Kannaki Street guideline value

The current guideline value of Kannaki Street is Rs 880 per sq.ft, effective from 1 July 2024. This street is located in Rajakilpakkam village and falls under the Selaiyur SRO. The land classification for this area is Residential Class IV Type - II.

How the guideline value of Kannaki Street has changed

The guideline value of Kannaki Street has undergone several revisions over the years. In the 2012 revision, the value was set at Rs 600 per sq.ft. This was followed by a decrease to Rs 402 per sq.ft in the 2017 revision. The 2023 revision saw a significant increase to Rs 600 per sq.ft, and the most recent 2024 revision raised it further to Rs 880 per sq.ft, marking a 47% increase from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 47%. Notably, there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

Guideline values in Rajakilpakkam

In Rajakilpakkam, there are 384 streets under the Selaiyur SRO that carry a 2024 guideline value, ranging from Rs 850 to Rs 5,000 per sq.ft. The median value for these streets is Rs 2,150 per sq.ft, indicating that the guideline value for Kannaki Street is below this median.

• Kanakaraja Nagar: Rs 1,300 per sq.ft (2024)
• Kanagaraja Cross Street: Rs 4,750 per sq.ft (2024)
• Karpagam Nagar: Rs 1,300 per sq.ft (2024)
• Kambar Street Extension: Rs 2,400 per sq.ft (2024)
• Kambar Street: Rs 2,700 per sq.ft (2024)
• Kambar Cross Street: Rs 2,400 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 more information, 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 Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for further assistance.

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

The guideline value is a crucial factor during property registration in Rajakilpakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded at a fair value according to government standards.

When buying or selling property, the guideline value will influence the stamp duty and registration fees payable. Buyers should be aware that these fees are calculated based on the higher of the guideline value or the sale price, impacting the overall cost of 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 has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2012 to Rs 402 per sq.ft in 2017, then back to Rs 600 per sq.ft in 2023, and finally to Rs 880 per sq.ft in 2024.

What is the land classification for Kannaki Street?

Kannaki Street is classified as Residential Class IV Type - II, indicating its suitability for residential purposes.

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

For a 1,000 sq.ft plot, the total guideline value is Rs 8,80,000. The stamp duty at 7% is Rs 61,600, and the registration fee at 2% is Rs 17,600, totaling Rs 79,200.

Where is the Sub Registrar Office for Kannaki Street located?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.