Guideline Value for Kanniah Chetty Street Ist Lane

Kanniah Chetty Street Ist Lane guideline value

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

How the guideline value of Kanniah Chetty Street Ist Lane has changed

The guideline value for Kanniah Chetty Street Ist Lane has seen several revisions over the years. Starting from the 2002 revision, the value was Rs 441 per sq.ft. It increased significantly to Rs 1,000 per sq.ft in 2007, marking a growth of 127%. The value then rose to Rs 4,000 per sq.ft in 2012, a 300% increase from the previous revision. However, it decreased to Rs 2,680 per sq.ft in 2017, reflecting a decline of 33%. The 2023 revision set the value at Rs 4,000 per sq.ft, and the latest 2024 revision has increased it to Rs 4,400 per sq.ft, a 10% increase from the previous year.

There is no figure available for the 2003 revision in the register. Overall, from 2002 to 2024, the guideline value has increased by 898%.

Guideline values in Aminjikarai

Aminjikarai has 99 streets under the AnnaNagar SRO that carry a 2024 guideline value, ranging from Rs 3,300 to Rs 16,500 per sq.ft. The median value is Rs 4,400 per sq.ft, making the guideline value for Kanniah Chetty Street Ist Lane equal to this median.

• Kanniah Chetty Street 3rd Lane: Rs 4,400 per sq.ft (2024)
• Kanniah Chetty Street 2nd 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 Ist Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value would be Rs 44,00,000. The stamp duty at 7% would amount to 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 guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kanniah Chetty Street Ist Lane?

The Sub Registrar Office that covers Kanniah Chetty Street Ist Lane is the AnnaNagar 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 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. It serves as a benchmark for determining the stamp duty and registration fees when buying or selling property. Buyers and sellers must consider this value to ensure compliance with the legal requirements during the registration process.

When a property is registered, the guideline value is used to calculate the applicable fees, which can significantly affect the overall cost of the transaction. Therefore, understanding the guideline value is essential for anyone looking to engage in real estate transactions in this area.

Frequently asked questions

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

The current guideline value of Kanniah Chetty Street Ist 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 increased from Rs 441 per sq.ft in 2002 to Rs 4,400 per sq.ft in 2024, reflecting an overall increase of 898% over this period.

What is the registration office for Kanniah Chetty Street Ist Lane?

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

How is stamp duty calculated for properties in this area?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a plot of 1,000 sq.ft at the guideline value of Rs 4,400 per sq.ft, the stamp duty would be Rs 3,08,000.

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

Other streets in Aminjikarai with similar guideline values include Kanniah Chetty Street 2nd Lane and Kanniah Chetty Street 3rd Lane, both valued at Rs 4,400 per sq.ft in 2024.