Guideline Value for Kanniappan Street

Kanniappan Street guideline value

The current guideline value of Kanniappan Street in Tondaiarpet village is Rs 1,300 per sq.ft, effective from 1 July 2024. This street falls under the Royapuram SRO and is classified as Residential Class II Type - I.

How the guideline value of Kanniappan Street has changed

The guideline value for Kanniappan Street has undergone several revisions over the years. In 2012, the value was Rs 1,200 per sq.ft, which then decreased to Rs 804 per sq.ft in 2017. The 2023 revision saw a significant increase to Rs 1,200 per sq.ft, and the most recent revision in 2024 has set the value at Rs 1,300 per sq.ft, marking an 8% increase from the previous year.

Overall, from 2012 to 2024, the guideline value has increased by 8%. It is important to note that the register has no figures for Kanniappan Street for the years 2002, 2003, and 2007.

Guideline values in Tondaiarpet

In Tondaiarpet, there are 1,384 streets under the Royapuram SRO, with the 2024 guideline values ranging from Rs 1,100 to Rs 10,100 per sq.ft. The median value for these streets is Rs 1,600 per sq.ft, indicating that Kanniappan Street's 2024 value is below this median.

• Kanniammal Koil Street: Rs 1,300 per sq.ft (2024)
• Kanniammal Koil Madam: Rs 1,300 per sq.ft (2024)
• Kannu Thottam: Rs 1,300 per sq.ft (2024)
• Kannan Street: Rs 2,200 per sq.ft (2024)
• Karimedu Colony Street: Rs 1,300 per sq.ft (2024)
• Kannagi Street: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Kanniappan Street

For a 1,000 sq.ft plot at the current rate of Rs 1,300 per sq.ft, the guideline value amounts to 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, totaling Rs 1,17,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kanniappan Street?

Kanniappan Street is covered by the Royapuram Sub Registrar Office located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021. You can find your SRO for further assistance.

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

The guideline value is a crucial factor in property transactions in Tondaiarpet. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is transparent and fair.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory expenses in the registration process. This ensures that all parties involved are aware of the financial obligations tied to the property transaction.

Frequently asked questions

What is the current guideline value of Kanniappan Street?

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

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, then back to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,300 per sq.ft in 2024.

What is the land classification for Kanniappan Street?

Kanniappan Street is classified as Residential Class II Type - I under the guideline value register.

What is the registration office for Kanniappan Street?

The registration office for Kanniappan Street is the Royapuram Sub Registrar Office, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021.

How is stamp duty calculated for properties in Kanniappan Street?

Stamp duty is calculated based on 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 91,000.