Guideline Value for Kannappan Street

Kannappan Street guideline value

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

How the guideline value of Kannappan Street has changed

The guideline value for Kannappan Street has seen several revisions over the years. The earliest recorded figure is from 2003 at Rs 554 per sq.ft, which increased to Rs 800 per sq.ft in 2007. In 2012, the value rose to Rs 2,000 per sq.ft, but then decreased to Rs 1,340 per sq.ft in 2017. Following this, the value increased to Rs 2,000 per sq.ft in 2023, and finally, it reached Rs 2,100 per sq.ft in 2024. The register has no figure for this street in 2002.

From 2017 to 2023, the value increased by 49%, while from 2012 to 2017, it decreased by 33%. The significant rise from 2007 to 2012 was 150%, and from 2003 to 2007, it increased by 44%. Overall, from 2003 to 2024, the guideline value has increased by 279%.

Guideline values in Zaminpallavaram

In Zaminpallavaram, there are 638 streets under the Pallavaram SRO that have a guideline value for 2024, ranging from Rs 2,100 to Rs 11,000 per sq.ft, with a median value of Rs 3,300 per sq.ft. The guideline value of Kannappan Street is below this median.

• Kannan Nagar Pillaiyar Koil Street: Rs 2,100 per sq.ft (2024)
• Kannan Nagar: Rs 3,300 per sq.ft (2024)
• Kanni Koil Street: Rs 2,750 per sq.ft (2024)
• Karikalan Street: Rs 3,300 per sq.ft (2024)
• Kannadasan Street, Rajiv Gandhi Street: Rs 3,300 per sq.ft (2024)
• Kannabiran Street: Rs 2,750 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 2,100 per sq.ft, the total guideline value would be Rs 21,00,000. The stamp duty at 7% would be Rs 1,47,000, and the registration fee at 2% would be Rs 42,000, bringing the total fees to Rs 1,89,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kannappan Street?

The Sub Registrar Office that covers Kannappan Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor when buying or selling property in Zaminpallavaram. It serves as a benchmark for determining the stamp duty and registration fees applicable during the registration process.

When a property is sold, the guideline value helps ensure that the transaction is recorded at a fair value, which is essential for both buyers and sellers. It is crucial to be aware of the current guideline values to avoid any discrepancies during the registration of property transactions.

Frequently asked questions

What is the current guideline value of Kannappan Street?

The current guideline value of Kannappan Street is Rs 2,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 554 per sq.ft in 2003 to Rs 2,100 per sq.ft in 2024, reflecting an overall increase of 279% over this period.

What is the land classification for Kannappan Street?

Kannappan Street is classified as Residential Class IV Type - I, indicating its use for residential purposes.

Where can I find the registration office for Kannappan Street?

The registration office for Kannappan Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

How is stamp duty calculated for properties in Kannappan Street?

Stamp duty is calculated based on the guideline value or the sale price of the property, whichever is higher. For example, for a 1,000 sq.ft plot at the current rate, the total guideline value would be Rs 21,00,000, leading to a stamp duty of Rs 1,47,000.