Guideline Value for Kanni Lane

Kanni Lane guideline value

The current guideline value of Kanni Lane is Rs 1,700 per sq.ft, effective from 1 July 2024. This street is located in the village of Sholinganallur - 1 under the Neelankarai SRO, classified as Residential Class IV Type - I.

How the guideline value of Kanni Lane has changed

The guideline value for Kanni Lane has undergone several revisions over the years. The most recent revision in 2024 set the value at Rs 1,700 per sq.ft, an increase from Rs 1,500 per sq.ft in the 2023 revision, marking a change of +13%. The register has no figure for this street for the years 2017, 2012, 2007, 2003, and 2002.

In the 2023 revision, the value was Rs 1,500 per sq.ft. The register does not provide figures for the years prior to 2023, indicating that no guideline value was established for Kanni Lane in those years.

Guideline values in Sholinganallur - 1

In Sholinganallur - 1, there are 754 streets under the Neelankarai SRO that carry a 2024 guideline value, ranging from Rs 1,000 to Rs 8,800 per sq.ft, with a median value of Rs 2,200 per sq.ft. Kanni Lane's current guideline value is below this median.

• Kanni Street (Grama Nedunchalai 34th Cross Street): Rs 2,200 per sq.ft (2024)
• Karunanidhi Street & Salai: Rs 3,300 per sq.ft (2024)
• Kathari Mohideen Thottam: Rs 1,700 per sq.ft (2024)
• Kamarajar Street: Rs 2,800 per sq.ft (2024)
• Kamarajar Cross Street: Rs 2,800 per sq.ft (2024)
• Kamala Nagar Main Road: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Kanni Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 1,700 per sq.ft, the total guideline value would be Rs 17,00,000. The stamp duty at 7% would amount to Rs 1,19,000, and the registration fee at 2% would be Rs 34,000, bringing the total to Rs 1,53,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kanni Lane?

Kanni Lane falls under the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Sholinganallur - 1

The guideline value is a critical factor in the registration process when buying or selling property in Sholinganallur - 1. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

Frequently asked questions

What is the current guideline value of Kanni Lane?

The current guideline value of Kanni Lane is Rs 1,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed recently?

Recently, the guideline value increased from Rs 1,500 per sq.ft in 2023 to Rs 1,700 per sq.ft in 2024, representing a change of +13%.

What is the land classification of Kanni Lane?

Kanni Lane is classified as Residential Class IV Type - I, indicating its designation for residential purposes.

What are the stamp duty and registration fees for property in Kanni Lane?

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 1,19,000, and the registration fee would be Rs 34,000, totaling Rs 1,53,000.

Which Sub Registrar Office covers Kanni Lane?

Kanni Lane is covered by the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.