Guideline Value for Kannan Street

Kannan Street guideline value

The current guideline value of Kannan Street in Selaiyur village is Rs 1,300 per sq.ft, effective from 1 July 2024. This street falls under the Selaiyur Sub Registrar Office (SRO) and is classified as Residential Class III Type - II.

How the guideline value of Kannan Street has changed

The guideline value for Kannan Street has seen several revisions over the years. In 2012, the guideline value was Rs 1,200 per sq.ft, which remained unchanged until the 2017 revision, where it dropped to Rs 804 per sq.ft. Following this, the value increased significantly to Rs 1,200 per sq.ft in 2023, and then further to Rs 1,300 per sq.ft in 2024, marking an increase of 8% from the previous year.

From 2017 to 2023, there was a notable increase of 49%, while the change from 2012 to 2017 reflected a decrease of 33%. Overall, from 2012 to 2024, the guideline value has seen a modest increase of 8%. The register has no figures for the years 2002, 2003, and 2007.

Guideline values in Selaiyur

In Selaiyur, there are 478 streets under the Selaiyur SRO, with guideline values ranging from Rs 850 to Rs 6,500 per sq.ft. The median guideline value in this village is Rs 2,200 per sq.ft, placing Kannan Street's 2024 figure below that median.

• Kannappan Street: Rs 1,100 per sq.ft (2024)
• Kannaki Street: Rs 1,600 per sq.ft (2024)
• Kannaiyapuram: Rs 850 per sq.ft (2024)
• Kannadasan Street: Rs 1,100 per sq.ft (2024)
• Karnam Street: Rs 2,400 per sq.ft (2024)
• Karnam Street Ext: Rs 2,400 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 1,300 per sq.ft, the total guideline value amounts to Rs 13,00,000. The stamp duty at 7% would be Rs 91,000, while the registration fee at 2% would be Rs 26,000, bringing the total to Rs 1,17,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Kannan Street?

Kannan Street is covered by the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Selaiyur. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction. Buyers and sellers must be aware of the guideline value to ensure compliance with registration requirements.

When a property is sold, the guideline value is used to calculate the necessary fees, which are based on the higher of the guideline value or the sale price. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Kannan Street?

The current guideline value of Kannan Street is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, then increased to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,300 per sq.ft in 2024.

What is the median guideline value in Selaiyur?

The median guideline value in Selaiyur is Rs 2,200 per sq.ft, making Kannan Street's 2024 figure below this median.

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

For a property valued at Rs 13,00,000, the stamp duty would be Rs 91,000 and the registration fee would be Rs 26,000, totaling Rs 1,17,000.

Which office handles registrations for Kannan Street?

The Selaiyur Sub Registrar Office handles registrations for Kannan Street, located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.