Guideline Value for Kannan Street

Kannan Street guideline value

The current guideline value of Kannan Street in Kadaperi village is Rs 2,750 per sq.ft, effective from 1 July 2024. This street falls under the Tambaram Joint 1 SRO and is classified as Residential Special Type - I.

How the guideline value of Kannan Street has changed

Over the years, the guideline value of Kannan Street has seen several revisions. The 2007 revision set the value at Rs 1,200 per sq.ft, which increased to Rs 2,500 per sq.ft in 2012, marking a significant rise of 108%. However, the value then decreased by 33% to Rs 1,675 per sq.ft in 2017. The 2023 revision brought the value back up to Rs 2,500 per sq.ft, and in the latest 2024 revision, it increased by 10% to the current rate of Rs 2,750 per sq.ft.

There are no figures available for Kannan Street in the 2002 and 2003 revisions. Overall, from 2007 to 2024, the guideline value has increased by 129%.

Guideline values in Kadaperi

Kadaperi village has a total of 142 streets under the Tambaram Joint 1 SRO, with guideline values ranging from Rs 880 to Rs 7,700 per sq.ft. The median guideline value for these streets is Rs 1,650 per sq.ft, placing Kannan Street's 2024 figure above that median.

• Kannadapalayam Road: Rs 1,650 per sq.ft (2024)
• KasthuriBai Nagar Nethaji Street: Rs 1,650 per sq.ft (2024)
• Kasthuri Bai Street: Rs 1,650 per sq.ft (2024)
• Kamatchi Nagar: Rs 2,750 per sq.ft (2024)
• Kamarajar Nagar (North)Amarar Jeeva Street: Rs 1,650 per sq.ft (2024)
• Kamachi Nagar 3rd Cross St: Rs 2,750 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 2,750 per sq.ft, the total guideline value amounts to Rs 27,50,000. The stamp duty at 7% would be Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, bringing the total cost to Rs 2,47,500. It is important to note that the duty is charged on the higher of the guideline value and 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 falls under the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration of property transactions in Kadaperi. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the official valuation of the property. It is essential for buyers and sellers to be aware of the current guideline value to facilitate a fair transaction and comply with legal requirements.

Frequently asked questions

What is the current guideline value of Kannan Street?

The current guideline value of Kannan Street is Rs 2,750 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 2007 to Rs 2,750 per sq.ft in 2024, reflecting an overall increase of 129% over this period.

What is the median guideline value for streets in Kadaperi?

The median guideline value for the 142 streets in Kadaperi is Rs 1,650 per sq.ft, which is below the current value of Kannan Street.

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

For a property valued at Rs 27,50,000, the stamp duty would be Rs 1,92,500 and the registration fee would be Rs 55,000, totaling Rs 2,47,500.

Which office handles registrations for Kannan Street?

The Tambaram Joint 1 Sub Registrar Office handles registrations for Kannan Street, located at No.26, Mes Road, East Tambaram, Chennai-600059.