Guideline Value for Kannathasan Street

Kannathasan Street guideline value

The current guideline value of Kannathasan Street is Rs 1,600 per sq.ft, effective from 1 July 2024. This street is located in 5. Athipattu village, under the Konnur SRO, and is classified as Residential Class II Type - I.

How the guideline value of Kannathasan Street has changed

The guideline value for Kannathasan Street has seen several revisions over the years. The most recent revision in 2024 set the value at Rs 1,600 per sq.ft, an increase from Rs 1,500 per sq.ft in 2023, marking a 7% rise. Prior to that, the 2017 revision listed the value at Rs 1,005 per sq.ft, representing a significant increase of 49% to the 2023 figure. The register has no figures for the years 2002, 2003, 2007, and 2012.

Overall, from the 2017 revision to the current 2024 revision, there has been a 59% increase in the guideline value. This upward trend reflects the changes in property values over the years, with the latest figure being the highest recorded for this street.

Guideline values in 5. Athipattu

Within 5. Athipattu, there are 119 streets under the Konnur SRO that have a 2024 guideline value ranging from Rs 1,100 to Rs 7,650 per sq.ft. The median guideline value for these streets is Rs 2,200 per sq.ft, placing Kannathasan Street's value below this median.

• Karunanidhi Street: Rs 1,600 per sq.ft (2024)
• Kavarai Street: Rs 1,600 per sq.ft (2024)
• Kaveri Street(ICF colony): Rs 2,400 per sq.ft (2024)
• Kaviya Garden Dream Homes: Rs 1,105 per sq.ft (2024)
• Kalyani Industrial Estate: Rs 3,601 per sq.ft (2024)
• Kalidasan Street(Chelliamman nagar): Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Kannathasan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,600 per sq.ft, the total guideline value amounts to Rs 16,00,000. The stamp duty, charged at 7%, would be Rs 1,12,000, while the registration fee at 2% would be Rs 32,000. Together, the total cost for stamp duty and registration fee would be Rs 1,44,000. It is important to note that 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 Kannathasan Street?

The Sub Registrar Office that covers Kannathasan Street is the Konnur Sub Registrar Office, located at Sub Register Office, Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai. For further details, you can find your SRO.

How the guideline value is used when you buy or sell in 5. Athipattu

The guideline value plays a crucial role during the registration process of property transactions in 5. Athipattu. It is used to determine the stamp duty and registration fees that buyers need to pay when registering a property. The higher of the guideline value or the sale price is considered for calculating these fees.

Understanding the guideline value is essential for buyers and sellers as it impacts the overall cost of property transactions. It is advisable to check the latest guideline values to ensure compliance with the registration requirements.

Frequently asked questions

What is the current guideline value of Kannathasan Street?

The current guideline value of Kannathasan Street is Rs 1,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 1,005 per sq.ft in 2017 to Rs 1,600 per sq.ft in 2024, reflecting a 59% overall increase. The most recent revision in 2024 saw a 7% increase from the previous year's value of Rs 1,500 per sq.ft.

What is the land classification for Kannathasan Street?

Kannathasan Street is classified as Residential Class II Type - I under the Konnur SRO.

What are the stamp duty and registration fees for properties on this street?

For a property valued at Rs 16,00,000, the stamp duty would be Rs 1,12,000 and the registration fee would be Rs 32,000, totaling Rs 1,44,000. These fees are based on the guideline value or the sale price, whichever is higher.

Which office handles registrations for Kannathasan Street?

The Konnur Sub Registrar Office handles registrations for Kannathasan Street, located at Sub Register Office, Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai.