Guideline Value for Kannan Street

Kannan Street guideline value

The current guideline value of Kannan Street in Kodungaiyur village, under the Madhavaram SRO, is Rs 2,700 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class I Type - I land classification.

How the guideline value of Kannan Street has changed

Looking at the historical revisions, the guideline value for Kannan Street was Rs 2,500 per sq.ft in the 2012 and 2023 revisions. The most recent 2024 revision has increased this value to Rs 2,700 per sq.ft, marking an 8% increase from the previous year. It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2017.

From the 2012 revision to the 2024 revision, there has been an overall increase of 8%. The 2023 revision maintained the value at Rs 2,500 per sq.ft, indicating no change from the 2012 figure. The current value aligns with the median guideline value of Rs 2,700 per sq.ft for Kodungaiyur streets in 2024.

Guideline values in Kodungaiyur

Kodungaiyur has a total of 1,318 streets under the Madhavaram SRO, with guideline values 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 the same as the current value for Kannan Street.

• Kannan Street (Krishnamoorthy Nagar): 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

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, bringing the total fees to Rs 2,43,000. 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 detailed calculations.

Which Sub Registrar Office covers Kannan Street?

The Sub Registrar Office that covers Kannan Street is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in the registration process of property transactions in Kodungaiyur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the correct stamp duty and registration fees.

When buying or selling property, it is essential to refer to the guideline value to understand the financial implications, as the fees are calculated based on this value or the sale price, whichever is higher. This ensures transparency and adherence to legal requirements during property transactions.

Frequently asked questions

What is the current guideline value of Kannan Street?

The current guideline value of Kannan Street 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 has changed from Rs 2,500 per sq.ft in 2012 and 2023 to Rs 2,700 per sq.ft in 2024, reflecting an 8% increase from the previous year.

What is the land classification for Kannan Street?

Kannan Street falls under the Residential Class I Type - I land classification, indicating its suitability for residential purposes.

Where can I find the Madhavaram Sub Registrar Office?

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 stamp duty calculated for properties in Kannan Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current guideline value, the total fees would amount to Rs 2,43,000.