Guideline Value for Kanniamman Kovil Street

Kanniamman Kovil Street guideline value

The current guideline value of Kanniamman Kovil Street is Rs 200 per sq.ft, effective from 1 July 2024. This street is located in Siru Mangadu village under the Sunguvarchattram SRO, classified as Residential Class I Type - I.

How the guideline value of Kanniamman Kovil Street has changed

The guideline value for Kanniamman Kovil Street has undergone several revisions over the years. In the 2012 revision, the value was set at Rs 200 per sq.ft. This figure remained unchanged until the 2017 revision, where it decreased to Rs 134 per sq.ft, marking a decline of 33%. However, the value saw a significant increase in the 2023 revision, rising to Rs 200 per sq.ft, a 49% increase from the 2017 figure. The latest revision in 2024 maintains this value at Rs 200 per sq.ft, reflecting no change from the previous year.

It is important to note that there are no figures available for Kanniamman Kovil Street in the revisions for the years 2002, 2003, and 2007.

Guideline values in Siru Mangadu

In Siru Mangadu, there are 9 streets under the Sunguvarchattram SRO that carry a 2024 guideline value, ranging from Rs 100 to Rs 528 per sq.ft. The median value is Rs 200 per sq.ft, which is equal to the 2024 figure for Kanniamman Kovil Street.

• Kumaran Nagar: Rs 300 per sq.ft (2024)
• Jemi Sirumangadu New Town: Rs 200 per sq.ft (2024)
• Iswaryam Nagar: Rs 200 per sq.ft (2024)
• Mettu Street: Rs 150 per sq.ft (2024)
• Nadu Street: Rs 150 per sq.ft (2024)
• Periya Street: Rs 150 per sq.ft (2024)

Stamp duty and registration fee for property in Kanniamman Kovil Street

For a 1,000 sq.ft plot at the current rate of Rs 200 per sq.ft, the guideline value amounts to Rs 2,00,000. The stamp duty at 7% would be Rs 14,000, and the registration fee at 2% would be Rs 4,000, totaling Rs 18,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Kanniamman Kovil Street?

The Sub Registrar Office that covers Kanniamman Kovil Street is the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor when registering property transactions in Siru Mangadu. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the state receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the official valuation of the property. This valuation is used to calculate the applicable stamp duty and registration fees, which are essential for completing the transaction legally.

Frequently asked questions

What is the current guideline value of Kanniamman Kovil Street?

The current guideline value of Kanniamman Kovil Street is Rs 200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several changes, with the most recent revisions being Rs 200 per sq.ft in 2023 and 2024, and a decrease to Rs 134 per sq.ft in 2017. The value was Rs 200 per sq.ft in 2012.

Which Sub Registrar Office covers Kanniamman Kovil Street?

The Sub Registrar Office covering Kanniamman Kovil Street is the Sunguvarchattram Sub Registrar Office, located in Chengalpattu registration zone.

What are the other streets in Siru Mangadu?

Other streets in Siru Mangadu include Kumaran Nagar, Jemi Sirumangadu New Town, Iswaryam Nagar, Mettu Street, Nadu Street, and Periya Street, with varying guideline values.

How is stamp duty calculated for properties in Kanniamman Kovil Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a 1,000 sq.ft plot at Rs 200 per sq.ft, the total guideline value is Rs 2,00,000, which would incur a stamp duty of Rs 14,000.