Guideline Value for Kannappa Reddiar Street

Kannappa Reddiar Street guideline value

The current guideline value of Kannappa Reddiar Street is Rs 1,700 per sq.ft, effective from 1 July 2024. This street is located in Menambedu village under the Ambattur SRO, classified as Residential Special Type - I.

How the guideline value of Kannappa Reddiar Street has changed

Since the 2012 revision, the guideline value for Kannappa Reddiar Street has seen several changes. In 2012, the guideline value was Rs 1,600 per sq.ft, which decreased to Rs 1,072 per sq.ft in 2017. However, from 2017 to 2023, the value increased significantly to Rs 1,600 per sq.ft, followed by a further increase to Rs 1,700 per sq.ft in the 2024 revision, marking a 6% rise from the previous year.

Overall, from 2012 to 2024, the guideline value has increased by 6%. It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

Guideline values in Menambedu

In Menambedu, there are 171 streets under the Ambattur SRO that carry a 2024 guideline value, ranging from Rs 1,000 to Rs 6,680 per sq.ft. The median guideline value for the village is Rs 1,003 per sq.ft, making the 2024 figure for Kannappa Reddiar Street above that median.

• Kannan Koil Street: Rs 1,001 per sq.ft (2024)
• Kaniappa Reddy Street: Rs 1,700 per sq.ft (2024)
• Kambar Street: Rs 1,001 per sq.ft (2024)
• Karukku Main Road: Rs 1,300 per sq.ft (2024)
• Karukku Main Road 1st Street: Rs 1,000 per sq.ft (2024)
• Karukku Main Road 2nd Street: Rs 1,000 per sq.ft (2024)

Stamp duty and registration fee for property in Kannappa Reddiar Street

For a 1,000 sq.ft plot at the current rate of Rs 1,700 per sq.ft, the guideline value would be Rs 17,00,000. The stamp duty at 7% would amount to Rs 1,19,000, and the registration fee at 2% would be Rs 34,000, totaling Rs 1,53,000. 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 detailed calculations.

Which Sub Registrar Office covers Kannappa Reddiar Street?

The Sub Registrar Office that covers Kannappa Reddiar 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 Menambedu

The guideline value plays a crucial role in property transactions in Menambedu. It is used to determine the stamp duty and registration fees that need to be paid when buying or selling property. This ensures that the government receives the appropriate revenue based on the property's assessed value.

When registering a property, buyers must ensure that the transaction is recorded at or above the guideline value. This prevents undervaluation and ensures compliance with local regulations.

Frequently asked questions

What is the current guideline value of Kannappa Reddiar Street?

The current guideline value of Kannappa Reddiar Street is Rs 1,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,600 per sq.ft in 2012 to Rs 1,072 per sq.ft in 2017, then increased to Rs 1,600 per sq.ft in 2023, and finally to Rs 1,700 per sq.ft in 2024.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 17,00,000, the stamp duty would be Rs 1,19,000 and the registration fee would be Rs 34,000, totaling Rs 1,53,000.

Which Sub Registrar Office covers this street?

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

What is the land classification for Kannappa Reddiar Street?

Kannappa Reddiar Street is classified as Residential Special Type - I, which indicates its designation for residential use within the area.