Guideline Value for Kannappa Gileri Street

Kannappa Gileri Street guideline value

The current guideline value of Kannappa Gileri Street is Rs 805 per sq.ft, effective from 1 July 2024. This street is located in Kovilpathagai village, under the Ambattur SRO, and is classified as Residential Class II Type - II.

How the guideline value of Kannappa Gileri Street has changed

The guideline value for Kannappa Gileri Street has undergone several revisions over the years. In the 2012 revision, the value was set at Rs 700 per sq.ft. This figure decreased to Rs 469 per sq.ft in the 2017 revision. However, from 2017 to 2023, the value increased significantly to Rs 805 per sq.ft, marking a 72% increase. The 2023 revision retained the same value of Rs 805 per sq.ft, which will carry over into the 2024 revision.

It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 15%.

Guideline values in Kovilpathagai

Kovilpathagai village has a total of 278 streets under the Ambattur SRO with guideline values ranging from Rs 803 to Rs 2,900 per sq.ft. The median guideline value in this area is Rs 870 per sq.ft, placing Kannappa Gileri Street's 2024 figure below this median.

• Kannammaal Nagar: Rs 806 per sq.ft (2024)
• Karnam Street: Rs 807 per sq.ft (2024)
• Karnam Street Extn: Rs 807 per sq.ft (2024)
• Karnaswami Pillai Street: Rs 805 per sq.ft (2024)
• Kanadasan Street: Rs 880 per sq.ft (2024)
• Kammala Street: Rs 806 per sq.ft (2024)

Stamp duty and registration fee for property in Kannappa Gileri Street

For a 1,000 sq.ft plot at the current guideline value of Rs 805 per sq.ft, the total guideline value amounts to Rs 8,05,000. The stamp duty at 7% would be Rs 56,350, and the registration fee at 2% would be Rs 16,100, bringing the total to Rs 72,450. It is important to note that duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kannappa Gileri Street?

The Sub Registrar Office that covers Kannappa Gileri Street is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for more information.

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

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

When a property is registered, the guideline value is compared with the sale price, and the higher amount is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Kannappa Gileri Street?

The current guideline value of Kannappa Gileri Street is Rs 805 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 700 per sq.ft in 2012 to Rs 469 per sq.ft in 2017, then increased to Rs 805 per sq.ft in 2023 and 2024.

What is the land classification for Kannappa Gileri Street?

Kannappa Gileri Street is classified as Residential Class II Type - II.

Where is the Sub Registrar Office for Kannappa Gileri Street located?

The Sub Registrar Office for Kannappa Gileri Street is located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

How is stamp duty calculated for properties in Kovilpathagai?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. The current rate is 7% for stamp duty and 2% for registration fees.