Guideline Value for Kannammal Street

Kannammal Street guideline value

The current guideline value of Kannammal Street is Rs 4,100 per sq.ft, effective from 1 July 2024. This street is located in Kodambakkam village and falls under the Ashok Nagar SRO. The land classification for this area is Residential Class IV Type - I.

How the guideline value of Kannammal Street has changed

The guideline value for Kannammal Street has seen significant changes over the years. In the 2007 revision, the guideline value was Rs 800 per sq.ft. This increased to Rs 3,750 per sq.ft in 2023, marking a substantial rise of 369%. The latest revision in 2024 set the value at Rs 4,100 per sq.ft, reflecting a 9% increase from the previous year.

It is important to note that there are no figures available for the revisions in 2002, 2003, 2007, 2012, and 2017 for this street. Overall, from 2007 to 2024, the guideline value has increased by 413%.

Guideline values in Kodambakkam

In Kodambakkam, there are 1,031 streets under the Ashok Nagar SRO with a 2024 guideline value ranging from Rs 2,200 to Rs 11,000 per sq.ft. The median guideline value for these streets is Rs 4,900 per sq.ft, placing Kannammal Street's 2024 figure below this median.

• Kannagi street (Thiru Nagar): Rs 4,900 per sq.ft (2024)
• Kannagi Street (M.G.R.Nagar): Rs 3,300 per sq.ft (2024)
• Kannagi Street (JPT): Rs 4,900 per sq.ft (2024)
• Kannadhasan Street: Rs 3,300 per sq.ft (2024)
• Kannadhasan (Cross Street): Rs 3,300 per sq.ft (2024)
• Kannappar Salai: Rs 7,600 per sq.ft (2024)

Stamp duty and registration fee for property in Kannammal Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,100 per sq.ft, the total guideline value amounts to Rs 41,00,000. The stamp duty at 7% would be Rs 2,87,000, and the registration fee at 2% would be Rs 82,000, totaling Rs 3,69,000. 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 accurate calculations.

Which Sub Registrar Office covers Kannammal Street?

The Sub Registrar Office that covers Kannammal Street is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO online for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Kodambakkam. It is used to determine the stamp duty and registration fees that need to be paid at the time of registration. Buyers should ensure they are aware of the current guideline value to avoid any discrepancies during the transaction.

Additionally, the guideline value serves as a benchmark for property transactions in the area. It helps to standardize the pricing and provides clarity on the value of properties within the locality, ensuring that buyers and sellers have a common understanding of property values.

Frequently asked questions

What is the current guideline value of Kannammal Street?

The current guideline value of Kannammal Street is Rs 4,100 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since the 2007 revision, the guideline value has increased from Rs 800 per sq.ft to Rs 4,100 per sq.ft in 2024, marking an overall increase of 413%.

What is the guideline value for other streets in Kodambakkam?

Other streets in Kodambakkam have varying guideline values, with rates ranging from Rs 2,200 to Rs 11,000 per sq.ft as of 2024. The median value for these streets is Rs 4,900 per sq.ft.

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

For a property valued at Rs 41,00,000, the stamp duty would be Rs 2,87,000 and the registration fee would be Rs 82,000, totaling Rs 3,69,000.

Which office handles registrations for Kannammal Street?

The Ashok Nagar Sub Registrar Office is responsible for registrations in Kannammal Street, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.