Guideline Value for Kannaki Street

Kannaki Street guideline value

The current guideline value of Kannaki Street is Rs 1,600 per sq.ft, effective from 1 July 2024. This street is located in Selaiyur village under the Selaiyur SRO and is classified as Residential Class II Type - II.

How the guideline value of Kannaki Street has changed

Over the years, the guideline value of Kannaki Street has seen several revisions. The 2007 revision set the value at Rs 850 per sq.ft, which increased to Rs 1,500 per sq.ft in 2012. However, between 2012 and 2017, the value decreased to Rs 1,005 per sq.ft. Following this, the value rose significantly to Rs 1,500 per sq.ft in 2023, and the latest revision in 2024 has set it at Rs 1,600 per sq.ft.

In summary, from 2007 to 2024, the guideline value has increased by 88%. The changes between the revisions are as follows: a 76% increase from 2007 to 2012, a decrease of 33% from 2012 to 2017, a 49% increase from 2017 to 2023, and a 7% increase from 2023 to 2024.

Guideline values in Selaiyur

In Selaiyur, there are 478 streets under the Selaiyur SRO that carry a 2024 guideline value ranging from Rs 850 to Rs 6,500 per sq.ft, with a median value of Rs 2,200 per sq.ft. The guideline value of Kannaki Street is below this median.

• Kannaiyapuram: Rs 850 per sq.ft (2024)
• Kannan Street: Rs 1,300 per sq.ft (2024)
• Kannappan Street: Rs 1,100 per sq.ft (2024)
• Kannadasan Street: Rs 1,100 per sq.ft (2024)
• Kandasamy Colony: Rs 2,750 per sq.ft (2024)
• Kanagaraj Street: Rs 1,100 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 1,600 per sq.ft, the total guideline value would be Rs 16,00,000. The stamp duty at 7% would amount to Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, bringing the total fees to Rs 1,44,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

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 more information.

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

The guideline value plays a crucial role during the registration of property transactions in Selaiyur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the state receives the appropriate revenue from stamp duty and registration fees.

When buying or selling property, the guideline value is referenced to calculate the applicable stamp duty and registration fees. Buyers should be aware that these fees are based on the higher value between the guideline value and the actual sale price of the property.

Frequently asked questions

What is the current guideline value of Kannaki Street?

The current guideline value of Kannaki Street is Rs 1,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 850 per sq.ft in 2007 to Rs 1,600 per sq.ft in 2024, marking an overall increase of 88% during this period.

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

For a 1,000 sq.ft property at the current guideline value of Rs 1,600 per sq.ft, the total fees amount to Rs 1,44,000, which includes a stamp duty of Rs 1,12,000 and a registration fee of Rs 32,000.

Which office handles registrations for Kannaki Street?

The Selaiyur Sub Registrar Office handles registrations for Kannaki Street, located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.

What is the median guideline value in Selaiyur?

The median guideline value in Selaiyur is Rs 2,200 per sq.ft, while the guideline value for Kannaki Street is below this median.