Guideline Value for Kannan Street

Kannan Street guideline value

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

How the guideline value of Kannan Street has changed

The guideline value for Kannan Street has seen several revisions over the years. The earliest recorded figure is from 2003, where the value was Rs 128 per sq.ft. This increased significantly to Rs 400 per sq.ft in 2007, marking a change of +213%. In 2012, the value rose to Rs 2,000 per sq.ft, reflecting a substantial increase of +400%. However, from 2012 to 2017, the value decreased to Rs 1,340 per sq.ft, a drop of -33%. The guideline value then increased to Rs 2,000 per sq.ft in 2023, followed by the latest revision in 2024, which set the value at Rs 2,200 per sq.ft, a rise of +10%.

It is important to note that there is no figure available for Kannan Street in the 2002 revision. Overall, from 2003 to 2024, the guideline value has increased by +1619%.

Guideline values in Issa Pallavaram

In Issa Pallavaram, there are 110 streets under the Pallavaram SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 11,000 per sq.ft, with a median value of Rs 3,300 per sq.ft. Kannan Street's 2024 guideline value is below this median.

• Kannabiran Koil Street (PART): Rs 2,200 per sq.ft (2024)
• Kambar Street: Rs 2,200 per sq.ft (2024)
• Kamaraj Street: Rs 2,200 per sq.ft (2024)
• Kamaraj Nagar (1 To 4 Streets): Rs 2,200 per sq.ft (2024)
• Kamaraj Nagar: Rs 2,200 per sq.ft (2024)
• KRIBITH 4TH CROSS Street: Rs 3,300 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 be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total cost for these fees to 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.

For more information on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kannan Street?

Kannan Street is covered by the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor when registering property transactions in Issa Pallavaram. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid at the time of registration.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair value, which helps in maintaining transparency in property dealings. It is advisable to check the latest guideline value before proceeding with any property transaction.

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 has changed significantly from Rs 128 per sq.ft in 2003 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of +1619% over this period.

What are the stamp duty and registration fees for property on Kannan Street?

The stamp duty is 7% and the registration fee is 2% of the guideline value. For a 1,000 sq.ft plot, the total fees would amount to Rs 1,98,000.

Which Sub Registrar Office handles properties in Kannan Street?

The Pallavaram Sub Registrar Office handles properties in Kannan Street, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

What is the median guideline value in Issa Pallavaram?

The median guideline value in Issa Pallavaram is Rs 3,300 per sq.ft, while Kannan Street's current value is below this median at Rs 2,200 per sq.ft.