Guideline Value for Kanniappan Street

Kanniappan Street guideline value

The current guideline value of Kanniappan Street in Mugappair village is Rs 7,100 per sq.ft, effective from 1 July 2024. This street falls under the Konnur SRO and is classified as Residential Special Type - I.

How the guideline value of Kanniappan Street has changed

The guideline value for Kanniappan Street has seen several revisions over the years. In the 2007 revision, the value was set at Rs 1,500 per sq.ft. This figure increased significantly to Rs 6,500 per sq.ft in the 2012 revision, marking a rise of 333%. However, in the 2017 revision, the value dropped to Rs 4,355 per sq.ft, a decrease of 33%. The 2023 revision saw another increase to Rs 6,500 per sq.ft, followed by a further rise to Rs 7,100 per sq.ft in the 2024 revision, which is a 9% increase from the previous year.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 373%. It is important to note that there are no figures available for Kanniappan Street in the 2002 and 2003 revisions.

Guideline values in Mugappair

Mugappair village has a total of 224 streets under the Konnur SRO that carry a 2024 guideline value ranging from Rs 3,300 to Rs 8,800 per sq.ft. The median guideline value for these streets is Rs 7,100 per sq.ft, which is the same as the current value for Kanniappan Street.

• Kannathamman Koil Street: Rs 7,100 per sq.ft (2024)
• Kannammal Street: Rs 7,100 per sq.ft (2024)
• Karnan Street: Rs 5,500 per sq.ft (2024)
• Kannadhasan Salai: Rs 5,500 per sq.ft (2024)
• Karunanithi Nagar: Rs 3,800 per sq.ft (2024)
• Kambar Salai: Rs 8,800 per sq.ft (2024)

Stamp duty and registration fee for property in Kanniappan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 7,100 per sq.ft, the total guideline value would be Rs 71,00,000. The stamp duty, charged at 7%, would amount to Rs 4,97,000, while the registration fee at 2% would be Rs 1,42,000. Therefore, the total cost for stamp duty and registration fees together would be Rs 6,39,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more information on calculating these fees, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kanniappan Street?

The Sub Registrar Office that covers Kanniappan Street is the Konnur Sub Registrar Office, located at Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai. For further details, you can find your SRO.

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

The guideline value plays a crucial role when buying or selling property in Mugappair. It is used to determine the stamp duty and registration fees that need to be paid during the registration process. Buyers and sellers must consider this value to ensure compliance with local regulations and to avoid any legal complications.

When a property is sold, the guideline value is compared with the sale price. The stamp duty and registration fees are charged based on the higher of the two values, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Kanniappan Street?

The current guideline value of Kanniappan Street is Rs 7,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, increasing from Rs 1,500 per sq.ft in 2007 to Rs 7,100 per sq.ft in 2024, marking an overall increase of 373%.

What are the other streets in Mugappair with similar guideline values?

Other streets in Mugappair with a guideline value of Rs 7,100 per sq.ft include Kannathamman Koil Street and Kannammal Street, among others.

What fees are associated with buying property in Kanniappan Street?

When buying property in Kanniappan Street, buyers must consider stamp duty and registration fees, which are calculated based on the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Kanniappan Street?

The Konnur Sub Registrar Office, which covers Kanniappan Street, is located at Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai.