Guideline Value for Kannammal Street 2nd Lane

Kannammal Street 2nd Lane guideline value

The current guideline value of Kannammal Street 2nd Lane is Rs 3,100 per sq.ft, effective from 1 July 2024. This street is located in Ramapuram village, under the Chennai South Joint II SRO, and is classified as Residential Class II Type - I.

How the guideline value of Kannammal Street 2nd Lane has changed

The guideline value for Kannammal Street 2nd Lane has undergone several revisions over the years. In the 2012 revision, the value was Rs 2,800 per sq.ft. This figure saw a decrease to Rs 1,876 per sq.ft in the 2017 revision, marking a decline of 33%. However, from 2017 to 2023, the value increased significantly to Rs 2,800 per sq.ft, which is a rise of 49%. The most recent revision in 2024 set the guideline value at Rs 3,100 per sq.ft, reflecting an 11% increase from the previous year.

There are no figures available for the years 2002, 2003, and 2007 for this street. Overall, comparing the 2012 and 2024 revisions, the guideline value has increased by 11%.

Guideline values in Ramapuram

In Ramapuram, there are 394 streets under the Chennai South Joint II SRO that carry a 2024 guideline value, ranging from Rs 1,950 to Rs 6,600 per sq.ft. The median value for these streets is Rs 3,100 per sq.ft, which is equal to the 2024 guideline value of Kannammal Street 2nd Lane.

• Kannammal Street: Rs 3,100 per sq.ft (2024)
• Kannagi Street: Rs 2,750 per sq.ft (2024)
• Kannadhasan Nagar: Rs 3,100 per sq.ft (2024)
• Kannadasan Street: Rs 3,100 per sq.ft (2024)
• Kannadasan Nagar 6st Street: Rs 3,100 per sq.ft (2024)
• Kannadasan Nagar 5st Street: Rs 3,100 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 3,100 per sq.ft, the total guideline value amounts to Rs 31,00,000. The stamp duty at 7% would be Rs 2,17,000, and the registration fee at 2% would be Rs 62,000, totaling Rs 2,79,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kannammal Street 2nd Lane?

The Sub Registrar Office that covers Kannammal Street 2nd Lane is the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process of property transactions in Ramapuram. It serves as a basis for calculating stamp duty and registration fees, ensuring that the government receives the appropriate taxes on property sales.

When buying or selling property, the guideline value helps determine the minimum value at which the property can be registered. Buyers should be aware that the stamp duty is calculated on the higher of the guideline value or the sale price, which ensures that the transaction is recorded accurately.

Frequently asked questions

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

The current guideline value of Kannammal Street 2nd Lane is Rs 3,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,800 per sq.ft in 2012 to Rs 1,876 per sq.ft in 2017, then increased to Rs 2,800 per sq.ft in 2023, and finally to Rs 3,100 per sq.ft in 2024.

What is the land classification for Kannammal Street 2nd Lane?

Kannammal Street 2nd Lane is classified as Residential Class II Type - I.

What are the stamp duty rates applicable?

The stamp duty for property transactions is charged at 7% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for this area?

The Sub Registrar Office for Kannammal Street 2nd Lane is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.