Guideline Value for Kanniah Chetty Street

Kanniah Chetty Street guideline value

The current guideline value of Kanniah Chetty Street is Rs 5,500 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 - I.

How the guideline value of Kanniah Chetty Street has changed

The guideline value for Kanniah Chetty Street has undergone several revisions over the years. The earliest recorded figure is from 2007, where the value was Rs 1,200 per sq.ft. This increased significantly to Rs 5,000 per sq.ft in 2012, marking a 317% rise. However, it then decreased to Rs 3,350 per sq.ft in 2017, a drop of 33%. The value rose again to Rs 5,000 per sq.ft in 2023, and currently stands at Rs 5,500 per sq.ft as of the 2024 revision, reflecting a 10% increase from the previous year.

It is important to note that 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 358%.

Guideline values in Aminjikarai

Aminjikarai has a total of 99 streets under the AnnaNagar SRO that carry a 2024 guideline value ranging from Rs 3,300 to Rs 16,500 per sq.ft, with a median value of Rs 4,400 per sq.ft. Kanniah Chetty Street's current value is above this median.

• Kanniah Chetty Street 2nd Lane: Rs 4,400 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

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value amounts to Rs 55,00,000. The stamp duty, calculated at 7%, would be Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, bringing the total fees together to Rs 4,95,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can also use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kanniah Chetty Street?

The Sub Registrar Office that covers Kanniah Chetty Street is the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur EB Office. To find your specific SRO, you can visit find your SRO.

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, as it determines the minimum value at which properties can be registered. Buyers and sellers need to be aware of this value, as it affects the stamp duty and registration fees applicable during the transaction.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees, ensuring that these costs are based on the official valuation rather than the sale price alone. This helps maintain transparency in property transactions.

Frequently asked questions

What is the current guideline value of Kanniah Chetty Street?

The current guideline value of Kanniah Chetty Street is Rs 5,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions, increasing from Rs 1,200 per sq.ft in 2007 to Rs 5,500 per sq.ft in 2024, which is a total increase of 358% over the years.

What are the stamp duty and registration fees for properties on this street?

For a property valued at Rs 5,500 per sq.ft, the stamp duty is 7% and the registration fee is 2%. For a 1,000 sq.ft plot, the total fees would amount to Rs 4,95,000.

Which office handles registrations for Kanniah Chetty Street?

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

What is the median guideline value of streets in Aminjikarai?

The median guideline value of streets in Aminjikarai is Rs 4,400 per sq.ft, with Kanniah Chetty Street's current value being above this median at Rs 5,500 per sq.ft.