Guideline Value for Kannathasan Street

Kannathasan Street guideline value

The current guideline value of Kannathasan Street is Rs 1,980 per sq.ft, effective from 1 July 2024. This street is located in Kerugambakkam village, under the Pammal Sub Registrar Office (SRO), and is classified as Residential Class II Type - II.

How the guideline value of Kannathasan Street has changed

The guideline value for Kannathasan Street has seen several revisions over the years. The oldest available figure is from the 2017 revision, which was Rs 1,206 per sq.ft. This increased to Rs 1,800 per sq.ft in the 2023 revision, marking a significant rise of 49%. The most recent revision in 2024 set the value at Rs 1,980 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2012 for this street in the register.

Guideline values in Kerugambakkam

In Kerugambakkam, there are 144 streets under the Pammal SRO that have a guideline value for 2024, ranging from Rs 1,100 to Rs 4,800 per sq.ft. The median guideline value for these streets is Rs 2,200 per sq.ft, placing Kannathasan Street's 2024 figure below that median.

• Karpaga Vinayagar Koil Street: Rs 1,980 per sq.ft (2024)
• Karthick Garden: Rs 2,530 per sq.ft (2024)
• Kamarajar Street: Rs 1,980 per sq.ft (2024)
• Kochar Arjun Garden: Rs 2,750 per sq.ft (2024)
• Kochar's Neetu Arjun Garden: Rs 2,860 per sq.ft (2024)
• Kolapakkam Road: Rs 2,860 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 1,980 per sq.ft, the total guideline value would be Rs 19,80,000. The stamp duty at 7% would amount to Rs 1,38,600, while the registration fee at 2% would be Rs 39,600, bringing the total to Rs 1,78,200. It is essential to note that the duty is charged on the higher of the guideline value or the sale price. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kannathasan Street?

The Sub Registrar Office that covers Kannathasan Street is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Kerugambakkam. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the registration process. Buyers and sellers should be aware that the guideline value may differ from the actual sale price of the property.

When registering a property, the stamp duty is calculated based on the higher of the guideline value or the sale price. This ensures that the government receives the appropriate revenue from property transactions, regardless of the negotiated sale price.

Frequently asked questions

What is the current guideline value of Kannathasan Street?

The current guideline value of Kannathasan Street is Rs 1,980 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has increased from Rs 1,206 per sq.ft in 2017 to Rs 1,980 per sq.ft in 2024, reflecting a total increase of 64% over this period.

What are the stamp duty and registration fees for properties on Kannathasan Street?

For a property valued at the current guideline value of Rs 19,80,000, the stamp duty would be Rs 1,38,600, and the registration fee would be Rs 39,600, totaling Rs 1,78,200.

Which Sub Registrar Office handles transactions for Kannathasan Street?

The Pammal Sub Registrar Office is responsible for handling transactions for Kannathasan Street, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

What is the land classification for Kannathasan Street?

Kannathasan Street is classified as Residential Class II Type - II, indicating its designation for residential purposes.