Guideline Value for Kanni Street

Kanni Street guideline value

The current guideline value of Kanni Street in Kodambakkam village is Rs 4,100 per sq.ft, effective from 1 July 2024. This street falls under the Ashok Nagar Sub Registrar Office and is classified as Residential Class IV Type - I.

How the guideline value of Kanni Street has changed

The guideline value for Kanni Street has seen significant changes over the years. In the 2007 revision, the guideline value was Rs 1,210 per sq.ft, which increased to Rs 3,750 per sq.ft in the 2023 revision. The latest revision in 2024 set the value at Rs 4,100 per sq.ft, marking a 9% increase from the previous year. Notably, the overall increase from 2007 to 2024 is 239%.

There are no figures available for the revisions in 2002, 2003, 2007, 2012, and 2017 for Kanni Street. However, the change from 2007 to 2023 was a substantial increase of 210%.

Guideline values in Kodambakkam

In Kodambakkam, there are 1,031 streets under the Ashok Nagar SRO, with guideline values ranging from Rs 2,200 to Rs 11,000 per sq.ft. The median guideline value in this area is Rs 4,900 per sq.ft, placing Kanni Street's 2024 figure below that median.

• Kannikapuram 4th Street: Rs 3,300 per sq.ft (2024)
• Kannikapuram 3rd Street: Rs 3,300 per sq.ft (2024)
• Kannikapuram 2nd Street: Rs 3,300 per sq.ft (2024)
• Kannikapuram 1st Street: Rs 3,300 per sq.ft (2024)
• Kannikapuram: Rs 3,300 per sq.ft (2024)
• Kanniyappan Street: Rs 4,100 per sq.ft (2024)

Stamp duty and registration fee for property in Kanni Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,100 per sq.ft, the total guideline value amounts to Rs 41,00,000. The stamp duty at 7% would be Rs 2,87,000, and the registration fee at 2% would be Rs 82,000, bringing the total to Rs 3,69,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kanni Street?

Kanni Street falls under the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur EB Office. You can find your SRO for further assistance.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Kodambakkam. It is used to determine the stamp duty and registration fees, which are essential costs associated with property transactions.

When a property is sold, the guideline value is compared with the sale price, and the higher amount is used to calculate the applicable duties. This ensures that the registration reflects the true value of the property being transferred.

Frequently asked questions

What is the current guideline value for Kanni Street?

The current guideline value for Kanni Street is Rs 4,100 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has increased significantly from Rs 1,210 per sq.ft in 2007 to Rs 4,100 per sq.ft in 2024, representing an overall increase of 239%.

What is the registration office for Kanni Street?

The registration office for Kanni Street is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How is stamp duty calculated for properties on Kanni Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a 1,000 sq.ft property at the guideline value of Rs 4,100 per sq.ft would incur a stamp duty of Rs 2,87,000.

What are the guideline values for other streets in Kodambakkam?

Other streets in Kodambakkam have varying guideline values, with some streets like Kannikapuram 4th Street at Rs 3,300 per sq.ft and Kanniyappan Street at Rs 4,100 per sq.ft as per the 2024 revision.