Guideline Value for Kannathamman Koil Street

Kannathamman Koil Street guideline value

The current guideline value of Kannathamman Koil Street is Rs 7,100 per sq.ft. This street is located in Mugappair village, under the Konnur SRO, and is classified as Residential Special Type - I.

How the guideline value of Kannathamman Koil Street has changed

The guideline value for Kannathamman Koil Street has seen several revisions over the years. In the 2002 revision, the value was Rs 181 per sq.ft, which increased significantly to Rs 199 per sq.ft in 2003. The 2007 revision marked a substantial rise to Rs 2,000 per sq.ft, followed by another increase to Rs 6,500 per sq.ft in 2012. However, the value decreased to Rs 4,355 per sq.ft in 2017. The 2023 revision brought the value back up to Rs 6,500 per sq.ft, and the most recent 2024 revision set the guideline value at Rs 7,100 per sq.ft.

Between these revisions, there were notable changes. From 2002 to 2003, the increase was +10%. The jump from 2003 to 2007 was +905%, followed by a rise of +225% from 2007 to 2012. The decrease from 2012 to 2017 was -33%, and the increase from 2017 to 2023 was +49%. The latest change from 2023 to 2024 reflects an increase of +9%. Overall, from 2002 to 2024, the guideline value has increased by +3823%.

Guideline values in Mugappair

Mugappair village has a total of 224 streets under the Konnur SRO, with guideline values ranging from Rs 3,300 to Rs 8,800 per sq.ft. The median guideline value is Rs 7,100 per sq.ft, which is equal to the current value of Kannathamman Koil Street.

• Kanniappan Street: Rs 7,100 per sq.ft (2024)
• Kannammal Street: Rs 7,100 per sq.ft (2024)
• Kannadhasan Salai: Rs 5,500 per sq.ft (2024)
• Karnan Street: Rs 5,500 per sq.ft (2024)
• Kambar Salai: Rs 8,800 per sq.ft (2024)
• Karunanithi Nagar: Rs 3,800 per sq.ft (2024)

Stamp duty and registration fee for property in Kannathamman Koil Street

For a 1,000 sq.ft plot at the current rate of Rs 7,100 per sq.ft, the guideline value amounts to Rs 71,00,000. The stamp duty at 7% would be Rs 4,97,000, while the registration fee at 2% would be Rs 1,42,000. Together, the total cost would be Rs 6,39,000. It is important to note that the 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 Kannathamman Koil Street?

The Sub Registrar Office that covers Kannathamman Koil Street is the Konnur Sub Registrar Office. The address is Sub Register Office, Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai. You can find your SRO for more information.

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

When buying or selling property in Mugappair, the guideline value plays a crucial role in determining the stamp duty and registration fees. The guideline value is set by the Registration Department and reflects the minimum value at which properties can be registered in the area.

It is essential for buyers and sellers to be aware of the guideline value, as it affects the overall cost of transactions. The guideline value is used to calculate the stamp duty, which is a mandatory fee when registering property, ensuring that the transaction is legally recognized.

Frequently asked questions

What is the current guideline value of Kannathamman Koil Street?

The current guideline value of Kannathamman Koil Street is Rs 7,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, starting from Rs 181 per sq.ft in 2002 to Rs 7,100 per sq.ft in 2024, reflecting an overall increase of +3823% over the years.

What is the land classification for Kannathamman Koil Street?

Kannathamman Koil Street is classified as Residential Special Type - I, indicating its suitability for residential development.

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

For a property valued at Rs 71,00,000, the stamp duty would be Rs 4,97,000, and the registration fee would be Rs 1,42,000, totaling Rs 6,39,000.

Where is the Konnur Sub Registrar Office located?

The Konnur Sub Registrar Office is located at Sub Register Office, Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai.