Guideline Value for Kanniamman Koil Street

Kanniamman Koil Street guideline value

The current guideline value of Kanniamman Koil Street is Rs 6,600 per sq.ft, effective from 1 July 2024. This street is located in Aminjikarai village, under the jurisdiction of the AnnaNagar SRO, and is classified as Residential Class I Type - III.

How the guideline value of Kanniamman Koil Street has changed

Over the years, the guideline value of Kanniamman Koil Street has seen significant changes. In 2002, the guideline value was Rs 650 per sq.ft. It increased to Rs 1,200 per sq.ft in 2007, marking a substantial rise of 85%. The value then surged to Rs 6,000 per sq.ft in 2012, which was a remarkable increase of 400%. However, between 2012 and 2017, the value dropped to Rs 4,020 per sq.ft, reflecting a decrease of 33%. Following this, the value rose to Rs 6,000 per sq.ft in 2023, and then to Rs 6,600 per sq.ft in 2024, indicating a 10% increase.

It is important to note that the register has no figure for Kanniamman Koil Street in 2003. Overall, from 2002 to 2024, the guideline value has increased by 915%, showcasing a significant upward trend in value over the years.

Guideline values in Aminjikarai

In Aminjikarai, there are 99 streets under the AnnaNagar SRO, with guideline values ranging from Rs 3,300 to Rs 16,500 per sq.ft as of 2024. The median guideline value for these streets is Rs 4,400 per sq.ft, placing Kanniamman Koil Street's 2024 value of Rs 6,600 above this median.

• Kanniah Chetty Street Ist Lane: Rs 4,400 per sq.ft (2024)
• 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)
• 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 Kanniamman Koil Street

For a 1,000 sq.ft plot at the current guideline value of Rs 6,600 per sq.ft, the total guideline value amounts to Rs 66,00,000. The stamp duty at 7% would be Rs 4,62,000, while the registration fee at 2% would be Rs 1,32,000. Together, the total cost for stamp duty and registration fees would be Rs 5,94,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kanniamman Koil Street?

The Sub Registrar Office that covers Kanniamman Koil Street 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 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 minimum value at which a property can be registered. Buyers and sellers must consider the guideline value when negotiating sale prices, as the registration fees and stamp duty are calculated based on this value.

When a property is sold, the buyer must ensure that the sale price is not lower than the guideline value to avoid any legal complications. This ensures that the transaction is transparent and complies with the regulations set by the Registration Department.

Frequently asked questions

What is the current guideline value of Kanniamman Koil Street?

The current guideline value of Kanniamman Koil Street is Rs 6,600 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 650 per sq.ft in 2002 to Rs 6,600 per sq.ft in 2024, reflecting an overall increase of 915% over this period.

What is the registration office for Kanniamman Koil Street?

The registration office for Kanniamman Koil Street is the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How is the stamp duty calculated for properties in Kanniamman Koil Street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, on a property valued at Rs 66,00,000, the stamp duty would be Rs 4,62,000.

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

Other streets in Aminjikarai include Kanniah Chetty Street Ist Lane, Kanniah Chetty Street 3rd Lane, Kanniah Chetty Street 2nd Lane, Kanniah Chetty Street, Kilpauk Garden Road, and Kadhiravan Colony (Huts) with various guideline values ranging from Rs 3,300 to Rs 15,000 per sq.ft.