Guideline Value for Kannammal 2nd Street

Kannammal 2nd Street guideline value

The current guideline value of Kannammal 2nd Street is Rs 1,650 per sq.ft, effective from 1 July 2024. This street is located in Chitlapakkam village and falls under the Tambaram Joint 1 SRO. The land classification for this area is Residential Class I Type - III.

How the guideline value of Kannammal 2nd Street has changed

The guideline value for Kannammal 2nd Street has seen several revisions over the years. The earliest record available is from 2012, where the value was Rs 1,500 per sq.ft. This was followed by a decrease to Rs 1,005 per sq.ft in 2017, marking a decline of 33%. However, from 2017 to 2023, the value increased significantly to Rs 1,500 per sq.ft, which is a rise of 49%. The most recent revision in 2024 set the guideline value at Rs 1,650 per sq.ft, reflecting a 10% increase from the previous year.

There are no recorded figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Chitlapakkam

In Chitlapakkam, there are 548 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median value for these streets is Rs 1,650 per sq.ft, which is the same as the guideline value for Kannammal 2nd Street.

• Kannammal Street: Rs 2,750 per sq.ft (2024)
• Kannaiyan Street: Rs 1,650 per sq.ft (2024)
• Kannagi Street: Rs 2,750 per sq.ft (2024)
• Karthik Avenue: Rs 1,650 per sq.ft (2024)
• Karthik Avenue Annex: Rs 1,650 per sq.ft (2024)
• Kamban Street: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Kannammal 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value would be Rs 16,50,000. The stamp duty at 7% would amount to Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total fees to Rs 1,48,500. 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 detailed calculations.

Which Sub Registrar Office covers Kannammal 2nd Street?

The Sub Registrar Office that covers Kannammal 2nd Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, 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 Chitlapakkam

The guideline value is a crucial reference point for property transactions in Chitlapakkam. When buying or selling property, this value is used to determine the stamp duty and registration fees payable during the registration process. It ensures that the transaction is recorded at a fair and standardized value.

Additionally, the guideline value helps in assessing the property’s worth for taxation and other legal purposes. It is essential for buyers and sellers to be aware of the current guideline value to avoid any discrepancies during the registration of property.

Frequently asked questions

What is the current guideline value of Kannammal 2nd Street?

The current guideline value of Kannammal 2nd Street is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, then increased to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,650 per sq.ft in 2024.

What is the land classification for Kannammal 2nd Street?

The land classification for Kannammal 2nd Street is Residential Class I Type - III.

Where can I find the Sub Registrar Office for Kannammal 2nd Street?

The Sub Registrar Office for Kannammal 2nd Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059.

How is the stamp duty calculated for properties in Kannammal 2nd Street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft property at the current guideline value would incur a stamp duty of Rs 1,15,500.