Guideline Value for Kannan Street (Krishnamoorthy Nagar)

Kannan Street (Krishnamoorthy Nagar) guideline value

The current guideline value of Kannan Street (Krishnamoorthy Nagar) is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Kodungaiyur village, under the Madhavaram SRO, and is classified as Residential Class I Type - I.

How the guideline value of Kannan Street (Krishnamoorthy Nagar) has changed

In the 2012 revision, the guideline value for Kannan Street was Rs 2,500 per sq.ft. This figure remained unchanged in the 2023 revision. However, in the 2024 revision, the guideline value increased to Rs 2,700 per sq.ft, reflecting an 8% rise from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 8%. The register has no figures for Kannan Street for the years 2002, 2003, 2007, and 2017.

Guideline values in Kodungaiyur

In Kodungaiyur, there are 1,318 streets under the Madhavaram SRO that carry a 2024 guideline value, ranging from Rs 1,900 to Rs 4,000 per sq.ft. The median guideline value for these streets is Rs 2,700 per sq.ft, which is equal to the 2024 figure for Kannan Street.

• Kannan Street: Rs 2,700 per sq.ft (2024)
• Kambar Street: Rs 2,700 per sq.ft (2024)
• Kamatchi Street (Teacher's Colony): Rs 2,200 per sq.ft (2024)
• Kamatchiamman Street (Gandhi Nagar): Rs 2,200 per sq.ft (2024)
• Kamatchi 4th Street (Kurinji Street): Rs 2,200 per sq.ft (2024)
• Kamatchi 3rd Street (Kurinji Street): Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Kannan Street (Krishnamoorthy Nagar)

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value would be Rs 27,00,000. The stamp duty at 7% would amount to Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, making the total cost for these fees Rs 2,43,000. Please note that duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Kannan Street (Krishnamoorthy Nagar)?

The Sub Registrar Office that covers Kannan Street (Krishnamoorthy Nagar) is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Kodungaiyur. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property, ensuring that the government receives the appropriate revenue from property transactions.

When buying or selling property, the guideline value will be considered alongside the sale price. The higher of the two will be used to calculate the applicable stamp duty and registration fees, ensuring compliance with local regulations.

Frequently asked questions

What is the current guideline value of Kannan Street (Krishnamoorthy Nagar)?

The current guideline value of Kannan Street (Krishnamoorthy Nagar) is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Kannan Street was Rs 2,500 per sq.ft in 2012 and remained the same in 2023. It increased to Rs 2,700 per sq.ft in the 2024 revision, marking an 8% rise from the previous year.

What is the classification of Kannan Street (Krishnamoorthy Nagar)?

Kannan Street (Krishnamoorthy Nagar) is classified as Residential Class I Type - I, indicating its designation for residential purposes within the locality.

Where is the Madhavaram Sub Registrar Office located?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060. This office handles the registration of properties in the area.

How is the stamp duty calculated for properties in Kannan Street?

The stamp duty for properties in Kannan Street is calculated based on the higher of the guideline value or the sale price. For example, a 1,000 sq.ft plot at the guideline value of Rs 2,700 per sq.ft would incur a total stamp duty of Rs 1,89,000.