Guideline Value for Kanniamman Koil Street

Kanniamman Koil Street guideline value

The current guideline value of Kanniamman Koil Street is Rs 1,300 per sq.ft, effective from 1 July 2024. This street is located in Madhavaram village, under the Madhavaram SRO, and is classified as Residential Class III Type - I.

How the guideline value of Kanniamman Koil Street has changed

In the 2017 revision, the guideline value was Rs 804 per sq.ft. This figure increased to Rs 1,200 per sq.ft in the 2023 revision, marking a significant rise of 49%. The most recent revision in 2024 saw another increase to Rs 1,300 per sq.ft, which is an 8% rise from the previous year.

Overall, from 2017 to 2024, the guideline value has increased by 62%. The register does not have figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Madhavaram

In Madhavaram, there are 1,946 streets under the Madhavaram SRO that have a 2024 guideline value ranging from Rs 1,300 to Rs 7,500 per sq.ft, with a median value of Rs 1,600 per sq.ft. The guideline value of Kanniamman Koil Street is below this median.

• Kanniammal Nagar: Rs 2,200 per sq.ft (2024)
• Kanniamman Koil st ( Ward No.26 ): Rs 1,300 per sq.ft (2024)
• Kannapuram ( Ward No.18 ): Rs 1,300 per sq.ft (2024)
• Kannapuram Nagar: Rs 1,300 per sq.ft (2024)
• Kanniga Garden (Ward-01): Rs 1,300 per sq.ft (2024)
• Kannan Nagar (Ward-19): Rs 1,300 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 1,300 per sq.ft, the total guideline value is Rs 13,00,000. The stamp duty at 7% would be Rs 91,000, and the registration fee at 2% would be Rs 26,000, bringing the total to Rs 1,17,000. Duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Kanniamman Koil Street?

The Sub Registrar Office that covers Kanniamman Koil Street is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Madhavaram. It is used to determine the stamp duty and registration fees applicable to the property being bought or sold.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two amounts is used to calculate the applicable duties and fees, ensuring compliance with local regulations.

Frequently asked questions

What is the current guideline value of Kanniamman Koil Street?

The current guideline value of Kanniamman Koil Street is Rs 1,300 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since 2017, the guideline value has increased from Rs 804 per sq.ft to Rs 1,300 per sq.ft in 2024, which is an overall increase of 62%.

What is the land classification for Kanniamman Koil Street?

Kanniamman Koil Street is classified as Residential Class III Type - I.

What are the stamp duty and registration fees in Kanniamman Koil Street?

For a property valued at Rs 13,00,000, the stamp duty is Rs 91,000 and the registration fee is Rs 26,000, totaling Rs 1,17,000.

Which office should I visit for property registration in Madhavaram?

The Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060, is the office responsible for property registration in this area.