Guideline Value for Kanniamman Street

Kanniamman Street guideline value

The current guideline value of Kanniamman Street is Rs 6,600 per sq.ft, effective from 1 July 2024. This street is located in Saligramam village, under the Virugambakkam SRO, and is classified as Residential Special Type - II.

How the guideline value of Kanniamman Street has changed

The guideline value for Kanniamman Street has seen several revisions over the years. In 2007, the guideline value was Rs 550 per sq.ft. This increased significantly to Rs 6,000 per sq.ft in 2012, marking a remarkable increase of 991%. However, it then decreased to Rs 4,020 per sq.ft in 2017, which was a decline of 33%. The value rose again to Rs 6,000 per sq.ft in 2023, and most recently, it has increased by 10% to Rs 6,600 per sq.ft in 2024.

From 2017 to 2023, the increase was 49%, and overall, from 2007 to 2024, the guideline value has increased by 1100%. The register does not have figures for the years 2002 and 2003 for this street.

Guideline values in Saligramam

In Saligramam, there are 333 streets under the Virugambakkam SRO, with guideline values ranging from Rs 2,750 to Rs 13,200 per sq.ft. The median guideline value in this area is Rs 4,400 per sq.ft, placing Kanniamman Street's 2024 figure above that median.

• Kannikapuram: Rs 3,300 per sq.ft (2024)
• Kannammal Street: Rs 6,600 per sq.ft (2024)
• Kannabiran Street: Rs 6,600 per sq.ft (2024)
• Kannabiran Colony: Rs 6,600 per sq.ft (2024)
• Kandan Street: Rs 3,300 per sq.ft (2024)
• Kambar Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Kanniamman Street

For a 1,000 sq.ft plot at the current guideline value of Rs 6,600 per sq.ft, the total guideline value would be Rs 66,00,000. The stamp duty at 7% would amount to Rs 4,62,000, while the registration fee at 2% would be Rs 1,32,000, bringing the total fees to Rs 5,94,000. 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 Street?

Kanniamman Street falls under the jurisdiction of the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for further assistance.

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

The guideline value serves as a reference for determining the minimum price at which properties can be registered in Saligramam. When buying or selling property, this value is crucial for calculating stamp duty and registration fees, ensuring that transactions comply with local regulations.

It is essential for buyers and sellers to be aware of the guideline value, as it impacts the overall cost of property transactions. Understanding this value helps in making informed decisions during the buying or selling process.

Frequently asked questions

What is the current guideline value of Kanniamman Street?

The current guideline value of Kanniamman 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 from Rs 550 per sq.ft in 2007 to Rs 6,600 per sq.ft in 2024, showing an overall increase of 1100% over the years.

What is the land classification for Kanniamman Street?

Kanniamman Street is classified as Residential Special Type - II.

Where can I find the registration office for Kanniamman Street?

The registration office covering Kanniamman Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

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

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current guideline value, the stamp duty would be Rs 4,62,000.