Guideline Value for Kannammal Street

Kannammal Street guideline value

The current guideline value of Kannammal Street in Mugappair village is Rs 7,100 per sq.ft. This value is effective from the 2024 revision, which falls under the Konnur SRO. The land classification for this street is Residential Special Type - I.

How the guideline value of Kannammal Street has changed

The guideline value for Kannammal Street has seen several revisions over the years. The 2012 revision recorded a value of Rs 6,500 per sq.ft, which decreased to Rs 4,355 per sq.ft in the 2017 revision. Following this, the value significantly increased to Rs 6,500 per sq.ft in the 2023 revision, and then rose again to Rs 7,100 per sq.ft in the 2024 revision, marking a 9% increase from the previous year.

From the 2017 revision to the 2023 revision, there was a substantial increase of 49%. Overall, from 2012 to 2024, the guideline value has increased by 9%. It is worth noting that there are no figures available for Kannammal Street in the revisions from 2002, 2003, and 2007.

Guideline values in Mugappair

In Mugappair, there are 224 streets under the Konnur SRO that carry a 2024 guideline value ranging from Rs 3,300 to Rs 8,800 per sq.ft. The median value for these streets is Rs 7,100 per sq.ft, which is equal to the current guideline value of Kannammal Street.

• Kannadhasan Salai: Rs 5,500 per sq.ft (2024)
• Kannathamman Koil Street: Rs 7,100 per sq.ft (2024)
• Kanniappan Street: Rs 7,100 per sq.ft (2024)
• Kambar Salai: Rs 8,800 per sq.ft (2024)
• Karnan Street: Rs 5,500 per sq.ft (2024)
• Kamaraj nagar and 1 to 4 Cross Street: Rs 3,800 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 7,100 per sq.ft, the total guideline value amounts to Rs 71,00,000. The stamp duty at 7% would be Rs 4,97,000, and the registration fee at 2% would be Rs 1,42,000, bringing the total cost for these fees to Rs 6,39,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kannammal Street?

The Sub Registrar Office that covers Kannammal Street is the Konnur Sub Registrar Office, located at Sub Register Office, Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai. You can find your SRO for more details.

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

The guideline value is a critical factor in the registration process when buying or selling property in Mugappair. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is sold, the guideline value helps ensure that the transaction is recorded at a fair value, which is essential for legal purposes. Buyers and sellers should be aware of the current guideline value to understand the financial implications of their property transactions.

Frequently asked questions

What is the current guideline value of Kannammal Street?

The current guideline value of Kannammal Street is Rs 7,100 per sq.ft, effective from the 2024 revision.

How has the guideline value changed over the years?

The guideline value has changed from Rs 6,500 per sq.ft in 2012 to Rs 4,355 per sq.ft in 2017, then to Rs 6,500 per sq.ft in 2023, and finally to Rs 7,100 per sq.ft in 2024.

What is the land classification for Kannammal Street?

The land classification for Kannammal Street is Residential Special Type - I.

What are the stamp duty rates applicable in Mugappair?

The stamp duty rate applicable in Mugappair is 7% of the guideline value or sale price, whichever is higher.

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

The Sub Registrar Office covering Kannammal Street is located at Sub Register Office, Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai.