Guideline Value for Kannappa Street

Kannappa Street guideline value

The current guideline value of Kannappa Street in Nasarathpettai village, under the Poonamallee SRO, is Rs 1,320 per sq.ft, effective from 1 July 2024. This street is classified as Residential Class I Type - I.

How the guideline value of Kannappa Street has changed

The guideline value for Kannappa Street has seen several revisions over the years. In 2012, the value was set at Rs 1,200 per sq.ft. This figure decreased to Rs 804 per sq.ft in 2017, marking a decline of 33%. However, from 2017 to 2023, the value increased significantly to Rs 1,200 per sq.ft, representing a rise of 49%. The most recent revision in 2024 has set the value at Rs 1,320 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that there are no figures available for Kannappa Street in the revisions from 2002, 2003, and 2007. Overall, the guideline value has increased by 10% from 2012 to 2024.

Guideline values in Nasarathpettai

Nasarathpettai village has a total of 19 streets under the Poonamallee SRO that carry a 2024 guideline value, ranging from Rs 1,320 to Rs 3,300 per sq.ft. The median guideline value in this village is Rs 1,320 per sq.ft, which is equal to the current value of Kannappa Street.

• Kakkila street: Rs 1,320 per sq.ft (2024)
• Golden Friends Smart City: Rs 2,200 per sq.ft (2024)
• Mettu Street: Rs 1,320 per sq.ft (2024)
• Nataraja Nagar: Rs 1,320 per sq.ft (2024)
• Chinna Chetty Street (A) Nehru Street: Rs 1,320 per sq.ft (2024)
• Padasalai Street: Rs 1,320 per sq.ft (2024)

Stamp duty and registration fee for property in Kannappa Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft, the total guideline value amounts to Rs 13,20,000. The stamp duty at 7% would be Rs 92,400, and the registration fee at 2% would be Rs 26,400, making the total fees together Rs 1,18,800. 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 Kannappa Street?

The Sub Registrar Office covering Kannappa Street is the Poonamallee Sub Registrar Office, located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Nasarathpettai. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with legal requirements during the transaction.

Additionally, the guideline value impacts the calculation of stamp duty and registration fees. These fees are based on the guideline value or the sale price, whichever is higher, ensuring that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Kannappa Street?

The current guideline value of Kannappa Street is Rs 1,320 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 back to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,320 per sq.ft in 2024.

What is the land classification of Kannappa Street?

Kannappa Street is classified as Residential Class I Type - I, indicating its suitability for residential development.

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

The stamp duty is charged at 7%, while the registration fee is 2% of the guideline value or sale price, whichever is higher. For a 1,000 sq.ft plot, total fees amount to Rs 1,18,800.

Which office handles the registration for Kannappa Street?

The Poonamallee Sub Registrar Office handles the registration for Kannappa Street, located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056.