Guideline Value for Kannappan Street

Kannappan Street guideline value

The current guideline value of Kannappan Street is Rs 1,100 per sq.ft, effective from 1 July 2024. This street is located in the 2nd Division village under the Kanchipuram Joint IV SRO and is classified as Residential Class II Type - II.

How the guideline value of Kannappan Street has changed

The guideline value for Kannappan Street has seen several revisions over the years. In the 2007 revision, the value was set at Rs 500 per sq.ft. This increased to Rs 1,000 per sq.ft in the 2012 revision, marking a 100% rise. However, in the 2017 revision, the value dropped to Rs 670 per sq.ft, reflecting a decrease of 33%. The value then increased significantly to Rs 1,000 per sq.ft in the 2023 revision, and currently stands at Rs 1,100 per sq.ft as of the 2024 revision, which is a 10% increase from the previous year. The register has no figures for the years 2002 and 2003.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 120%. The changes between the revisions illustrate a fluctuating trend, with notable increases in recent years.

Guideline values in 2nd Division

In the 2nd Division, there are 101 streets under the Kanchipuram Joint IV SRO that carry a 2024 guideline value ranging from Rs 800 to Rs 11,000 per sq.ft. The median value for these streets is Rs 1,650 per sq.ft, placing Kannappan Street's 2024 figure below the median.

• Kamatchiamman Avenue / Vishnukanchi Road: Rs 1,100 per sq.ft (2024)
• Kamarajar Street: Rs 5,500 per sq.ft (2024)
• Kalvai karai Veeth (Bavaji Street): Rs 2,200 per sq.ft (2024)
• Kotrampalayam Street: Rs 1,650 per sq.ft (2024)
• Kottai Kollai Subrayar Street: Rs 1,650 per sq.ft (2024)
• Kumarai Chetty Street: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Kannappan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value would be Rs 11,00,000. The stamp duty at 7% would amount to Rs 77,000, and the registration fee at 2% would be Rs 22,000, bringing the total to Rs 99,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kannappan Street?

The Sub Registrar Office that covers Kannappan Street is the Kanchipuram Joint IV Sub Registrar Office, located at Kamarajar Road, Taluk Office Campus, Kanchipuram-631 501, Chengalpattu registration zone. You can find your SRO for more information.

How the guideline value is used when you buy or sell in 2nd Division

The guideline value is a crucial factor when registering property transactions in the 2nd Division. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the registration process. Buyers and sellers must consider the guideline value to ensure compliance with local regulations.

When a property is sold, the registration office uses the guideline value to assess the applicable fees. This value helps in standardizing property transactions, ensuring that all parties are aware of the financial implications involved in the buying or selling process.

Frequently asked questions

What is the current guideline value of Kannappan Street?

The current guideline value of Kannappan Street is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 500 per sq.ft in 2007 to Rs 1,100 per sq.ft in 2024, representing an overall increase of 120% over the years.

What is the classification of Kannappan Street?

Kannappan Street is classified as Residential Class II Type - II under the Kanchipuram Joint IV SRO.

Where can I find the registration office for Kannappan Street?

The registration office for Kannappan Street is the Kanchipuram Joint IV Sub Registrar Office, located at Kamarajar Road, Taluk Office Campus, Kanchipuram-631 501, Chengalpattu registration zone.

How is stamp duty calculated for properties on Kannappan Street?

Stamp duty for properties on Kannappan Street is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current rate, the total stamp duty would be Rs 77,000.