Guideline Value for Kannan Street

Kannan Street guideline value

The current guideline value of Kannan Street in Tondaiarpet village, under the Royapuram SRO, is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is classified as Residential Class I Type - I.

How the guideline value of Kannan Street has changed

The guideline value for Kannan Street has seen several revisions over the years. In 2007, the value was Rs 900 per sq.ft, which increased significantly to Rs 2,000 per sq.ft in 2012. However, it then decreased to Rs 1,340 per sq.ft in 2017. The value rose again to Rs 2,000 per sq.ft in 2023 and finally reached Rs 2,200 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

From 2017 to 2023, the guideline value increased by 49%. The change from 2012 to 2017 was a decrease of 33%, while the jump from 2007 to 2012 was a remarkable increase of 122%. Overall, from 2007 to 2024, the guideline value has increased by 144%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Tondaiarpet

In Tondaiarpet, there are 1,384 streets under the Royapuram SRO with a 2024 guideline value ranging from Rs 1,100 to Rs 10,100 per sq.ft. The median value is Rs 1,600 per sq.ft, placing Kannan Street's 2024 value above the median.

• Kanniammal Koil Madam: Rs 1,300 per sq.ft (2024)
• Kanniammal Koil Street: Rs 1,300 per sq.ft (2024)
• Kannagi Street: Rs 1,300 per sq.ft (2024)
• Kannagi Nagar Pandiyan Street: Rs 1,300 per sq.ft (2024)
• Kanniappan Street: Rs 1,300 per sq.ft (2024)
• Kannagi Nagar Manimegalai Street: Rs 1,300 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 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, making the total cost for these fees Rs 1,98,000. 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 details.

Which Sub Registrar Office covers Kannan Street?

Kannan Street falls under the jurisdiction of the Royapuram Sub Registrar Office, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021. To find your specific SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Tondaiarpet. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the buyer must pay the stamp duty based on the higher of the guideline value or the sale price. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Kannan Street?

The current guideline value of Kannan Street is Rs 2,200 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 900 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024, showing an overall increase of 144% over the years.

What are the other streets in Tondaiarpet with their guideline values?

Other streets in Tondaiarpet include Kanniammal Koil Madam, Kanniammal Koil Street, Kannagi Street, Kannagi Nagar Pandiyan Street, Kanniappan Street, and Kannagi Nagar Manimegalai Street, all valued at Rs 1,300 per sq.ft in 2024.

What fees are associated with buying property on Kannan Street?

When purchasing property on Kannan Street, buyers must pay stamp duty at 7% and a registration fee at 2% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Kannan Street located?

The Sub Registrar Office covering Kannan Street is located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021.