Guideline Value for Kanniamman Kovil Street

Kanniamman Kovil Street guideline value

The current guideline value of Kanniamman Kovil Street, located in Umaiyal Parancheri village, is Rs 175 per sq.ft. This value is set to be effective from 1 July 2024. The land classification for this street is Residential Class III Type - I and it falls under the jurisdiction of the Sunguvarchattram SRO.

How the guideline value of Kanniamman Kovil Street has changed

The guideline value for Kanniamman Kovil Street has undergone several revisions over the years. The earliest recorded revision was in 2012, where the value was Rs 175 per sq.ft. In 2017, the guideline value increased to Rs 117 per sq.ft, marking a decrease of 33%. However, from 2017 to 2023, the value rose by 50% back to Rs 175 per sq.ft. The 2024 revision maintains this value at Rs 175 per sq.ft, reflecting no change from the previous year.

It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street. Therefore, the recorded revisions are limited to 2012, 2017, 2023, and the upcoming 2024 figure.

Guideline values in Umaiyal Parancheri

In Umaiyal Parancheri, there are 18 streets under the Sunguvarchattram SRO that carry a 2024 guideline value, ranging from Rs 175 to Rs 500 per sq.ft. The median value among these streets is Rs 200 per sq.ft, placing Kanniamman Kovil Street's 2024 figure below that median.

• L.K.S Garden: Rs 200 per sq.ft (2024)
• Issai Estate: Rs 250 per sq.ft (2024)
• Mariamman Kovil Street( Kulakkarai Street): Rs 175 per sq.ft (2024)
• M.R.Rajamani Nagar: Rs 200 per sq.ft (2024)
• MuthuKumaran Nagar: Rs 250 per sq.ft (2024)
• Erikkarai Street: Rs 175 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 guideline value of Rs 175 per sq.ft, the total guideline value amounts to Rs 1,75,000. The stamp duty at 7% would be Rs 12,250, and the registration fee at 2% would be Rs 3,500, bringing the total fees to Rs 15,750. 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 Kanniamman Kovil Street?

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

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

The guideline value plays a crucial role when buying or selling property in Umaiyal Parancheri. It serves as a benchmark for calculating the stamp duty and registration fees, ensuring that these costs are aligned with the official value set by the government.

When a property is registered, the guideline value is referenced to determine the applicable fees. Buyers should be aware that the stamp duty is charged on the higher of the guideline value or the sale price, which helps ensure that the registration process is transparent and standardized.

Frequently asked questions

What is the current guideline value of Kanniamman Kovil Street?

The current guideline value of Kanniamman Kovil Street is Rs 175 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 175 per sq.ft since 2012, with a decrease to Rs 117 per sq.ft in 2017, followed by an increase back to Rs 175 per sq.ft in 2023. The 2024 revision maintains this value.

What is the land classification for Kanniamman Kovil Street?

Kanniamman Kovil Street is classified as Residential Class III Type - I. This classification is important for determining the types of properties that can be developed in the area.

What are the stamp duty rates for properties in this area?

The stamp duty for properties in Kanniamman Kovil Street is charged at 7% of the guideline value or sale price, whichever is higher. Additionally, there is a registration fee of 2%.

Where can I find the Sub Registrar Office for Kanniamman Kovil Street?

The Sub Registrar Office covering Kanniamman Kovil Street is the Sunguvarchattram SRO, located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone.