Guideline Value for Kanniah Chetty Street 3rd Lane

Kanniah Chetty Street 3rd Lane guideline value

The current guideline value of Kanniah Chetty Street 3rd 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. The land classification for this area is Residential Class II Type - II.

How the guideline value of Kanniah Chetty Street 3rd Lane has changed

The guideline value for Kanniah Chetty Street 3rd Lane has seen several revisions over the years. The earliest recorded figure is from 2007, where the guideline value was Rs 1,000 per sq.ft. This increased significantly to Rs 4,000 per sq.ft in 2012, marking a 300% rise. However, it then decreased to Rs 2,680 per sq.ft in 2017, which is a 33% decline. The value rose again to Rs 4,000 per sq.ft in 2023, followed by a further increase to Rs 4,400 per sq.ft in 2024, reflecting a 10% increase.

There are no recorded figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 340%.

Guideline values in Aminjikarai

Aminjikarai village has a total of 99 streets under the AnnaNagar SRO, with the 2024 guideline values 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 3rd Lane.

• Kanniah Chetty Street 2nd Lane: Rs 4,400 per sq.ft (2024)
• Kanniah Chetty Street Ist Lane: Rs 4,400 per sq.ft (2024)
• Kanniah Chetty Street: Rs 5,500 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 3rd 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 duty is charged on the higher of the guideline value and the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kanniah Chetty Street 3rd Lane?

The Sub Registrar Office that covers Kanniah Chetty Street 3rd 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 details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Aminjikarai. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction, ensuring that both parties adhere to the legal requirements.

When a property is sold, the guideline value is assessed to ensure that the sale price is in line with the current market standards. This helps in maintaining transparency and fairness in property transactions within the region.

Frequently asked questions

What is the current guideline value of Kanniah Chetty Street 3rd Lane?

The current guideline value of Kanniah Chetty Street 3rd 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 significantly from Rs 1,000 per sq.ft in 2007 to Rs 4,400 per sq.ft in 2024, reflecting an overall increase of 340% over the years.

What are the other streets in Aminjikarai with similar guideline values?

Other streets in Aminjikarai with similar guideline values include Kanniah Chetty Street 2nd Lane and Kanniah Chetty Street Ist Lane, both at Rs 4,400 per sq.ft in 2024.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 44,00,000, the stamp duty would be Rs 3,08,000 and the registration fee would be Rs 88,000, totaling Rs 3,96,000.

Which Sub Registrar Office should I contact for transactions in this area?

The AnnaNagar Sub Registrar Office covers transactions in Kanniah Chetty Street 3rd Lane, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.