Guideline Value for Kannappar Street

Kannappar Street guideline value

The current guideline value of Kannappar Street in Peravallur village is Rs 2,700 per sq.ft, effective from 1 July 2024. This street falls under the Sembiam SRO and is classified as Residential Class I Type - I.

How the guideline value of Kannappar Street has changed

The guideline value for Kannappar Street has seen several revisions over the years. The earliest recorded figure is from 2002, which was Rs 325 per sq.ft. This increased to Rs 354 per sq.ft in 2003, marking a change of +9%. The value then rose significantly to Rs 1,000 per sq.ft in 2007, an increase of +182%. In 2012, the guideline value was revised to Rs 2,500 per sq.ft, reflecting a substantial rise of +150%. However, it decreased to Rs 1,675 per sq.ft in 2017, a decline of -33%. From 2017 to 2023, the value increased to Rs 2,500 per sq.ft, which is a rise of +49%. The most recent revision in 2024 set the guideline value at Rs 2,700 per sq.ft, an increase of +8% from the previous year.

There are no figures recorded for the years not mentioned in the revisions, ensuring that all changes are accounted for. Overall, from 2002 to 2024, the guideline value has increased by +731%.

Guideline values in Peravallur

In Peravallur, there are 423 streets under the Sembiam SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 7,100 per sq.ft, with a median value of Rs 3,301 per sq.ft. The guideline value of Kannappar Street is below this median.

• Kanniappan Street (Vetri Nagar): Rs 3,300 per sq.ft (2024)
• Kannaker Street: Rs 2,700 per sq.ft (2024)
• Kannabiran Koil Street: Rs 2,700 per sq.ft (2024)
• Kandasamy Salai: Rs 2,700 per sq.ft (2024)
• Karthick Street (Vetri Nagar Extension): Rs 3,301 per sq.ft (2024)
• Karthikeyan Salai: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Kannappar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value amounts to Rs 27,00,000. The stamp duty at 7% would be Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, bringing the total fees together to Rs 2,43,000. 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 Kannappar Street?

Kannappar Street is covered by the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration of property transactions in Peravallur. It serves as the benchmark for calculating stamp duty and registration fees, ensuring that these costs are based on a standardized valuation rather than fluctuating market prices.

When buying or selling property, the guideline value helps both parties understand the minimum value recognized by the government for taxation purposes. This ensures transparency and consistency in property transactions within the area.

Frequently asked questions

What is the current guideline value of Kannappar Street?

The current guideline value of Kannappar Street is Rs 2,700 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed significantly from Rs 325 per sq.ft in 2002 to Rs 2,700 per sq.ft in 2024, marking an overall increase of +731%.

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

For a 1,000 sq.ft plot, the total guideline value is Rs 27,00,000, resulting in a stamp duty of Rs 1,89,000 and a registration fee of Rs 54,000, totaling Rs 2,43,000.

Which Sub Registrar Office is responsible for Kannappar Street?

The Sembiam Sub Registrar Office covers Kannappar Street, located at 5, Papermills Road, Sembiam, Chennai - 600011.

How is the guideline value determined for properties in Peravallur?

The guideline value is determined based on various factors and is revised periodically to reflect changes in the real estate market. It serves as a standardized value for calculating taxes during property transactions.