Guideline Value for Kanniah Chetty Street 2nd Lane

Kanniah Chetty Street 2nd Lane guideline value

The current guideline value of Kanniah Chetty Street 2nd Lane is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Aminjikarai village and falls under the AnnaNagar SRO, classified as Residential Class II Type - II.

How the guideline value of Kanniah Chetty Street 2nd Lane has changed

The guideline value for Kanniah Chetty Street 2nd Lane has seen several revisions over the years. Starting from the 2007 revision, the value was Rs 1,000 per sq.ft, which increased significantly to Rs 4,000 per sq.ft in 2012, marking a 300% increase. However, in the 2017 revision, the value dropped to Rs 2,680 per sq.ft, a decrease of 33%. The guideline value then rose to Rs 4,000 per sq.ft in 2023, followed by a further increase to Rs 4,400 per sq.ft in 2024, which is a 10% rise.

From 2017 to 2023, the value increased by 49%. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 340%. It is important to note that there are no figures available for the years 2002 and 2003 for this street.

Guideline values in Aminjikarai

Aminjikarai has a total of 99 streets under the AnnaNagar SRO that have a 2024 guideline value ranging from Rs 3,300 to Rs 16,500 per sq.ft. The median guideline value for these streets is Rs 4,400 per sq.ft, which is equal to the current guideline value of Kanniah Chetty Street 2nd Lane.

• Kanniah Chetty Street: Rs 5,500 per sq.ft (2024)
• Kanniah Chetty Street 3rd Lane: Rs 4,400 per sq.ft (2024)
• Kanniah Chetty Street Ist Lane: Rs 4,400 per sq.ft (2024)
• Kanniamman Koil Street: Rs 6,600 per sq.ft (2024)
• Kilpauk Garden Road: Rs 15,000 per sq.ft (2024)
• Kadhiravan Colony (Huts): Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Kanniah Chetty Street 2nd Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value amounts to Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, bringing the total to Rs 3,96,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Kanniah Chetty Street 2nd Lane?

The Sub Registrar Office that covers Kanniah Chetty Street 2nd Lane is the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By Nolambur Eb Office). You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Aminjikarai. When buying or selling property, the guideline value serves as a reference point for determining the stamp duty and registration fees that need to be paid. It ensures that the transaction is recorded accurately in the official register.

Buyers and sellers must be aware that the guideline value is used by the registration office to assess the appropriate fees. This means that the final sale price or the guideline value, whichever is higher, will be the basis for calculating the stamp duty and registration fees.

Frequently asked questions

What is the current guideline value of Kanniah Chetty Street 2nd Lane?

The current guideline value of Kanniah Chetty Street 2nd Lane is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2007 to Rs 4,400 per sq.ft in 2024, marking an overall increase of 340%.

What are the stamp duty rates for property transactions?

The stamp duty rate is 7% of the guideline value or sale price, whichever is higher. Registration fees are charged at 2% of the guideline value or sale price.

Where can I find the Sub Registrar Office for this area?

The Sub Registrar Office for Kanniah Chetty Street 2nd Lane is the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

Are there other streets with similar guideline values in Aminjikarai?

Yes, there are several other streets in Aminjikarai with guideline values around Rs 4,400 per sq.ft, including Kanniah Chetty Street 3rd Lane and Kanniah Chetty Street Ist Lane.