Guideline Value for Kannigapuram 10th Street

Kannigapuram 10th Street guideline value

The current guideline value for Kannigapuram 10th Street is Rs 3,850 per sq.ft, effective from 1 July 2024. This street is located in Velachery village, under the Velacheri SRO, and is classified as Residential Class II Type - III.

How the guideline value of Kannigapuram 10th Street has changed

The guideline value for Kannigapuram 10th Street has undergone several revisions. The register has no figure for this street in 2002, 2003, 2007, 2012, and 2017. In the 2023 revision, the value was set at Rs 3,500 per sq.ft, and in the most recent 2024 revision, it has increased to Rs 3,850 per sq.ft, reflecting a change of +10% from the previous year.

As of the 2024 revision, the guideline value for this street stands at Rs 3,850 per sq.ft. This is a notable increase from the 2023 figure of Rs 3,500 per sq.ft.

Guideline values in Velachery

In Velachery, there are 2,691 streets under the Velacheri SRO that carry a 2024 guideline value ranging from Rs 3,300 to Rs 13,200 per sq.ft, with a median value of Rs 4,400 per sq.ft. The guideline value for Kannigapuram 10th Street is below this median.

• Kannigapuram: Rs 3,850 per sq.ft (2024)
• Kannigapuram 11th Street: Rs 3,850 per sq.ft (2024)
• Kannigapuram 12th Street: Rs 3,850 per sq.ft (2024)
• Kannigapuram 13th Street: Rs 3,850 per sq.ft (2024)
• Kannigapuram 14th Street: Rs 3,850 per sq.ft (2024)
• Kannigapuram 15th Street: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Kannigapuram 10th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,850 per sq.ft, the total guideline value amounts to Rs 38,50,000. The stamp duty at 7% would be Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, bringing the total fees to Rs 3,46,500. It is important to note that 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 details.

Which Sub Registrar Office covers Kannigapuram 10th Street?

The Sub Registrar Office that covers Kannigapuram 10th Street is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. For more information, you can find your SRO.

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

The guideline value is a crucial factor in property transactions in Velachery. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with registration requirements.

When registering a property, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that both parties are aware of the financial implications of the transaction based on the officially recognized value of the property.

Frequently asked questions

What is the current guideline value for Kannigapuram 10th Street?

The current guideline value for Kannigapuram 10th Street is Rs 3,850 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed recently?

The guideline value has increased from Rs 3,500 per sq.ft in 2023 to Rs 3,850 per sq.ft in 2024, which is a change of +10%.

What is the classification of Kannigapuram 10th Street?

Kannigapuram 10th Street is classified as Residential Class II Type - III.

Where can I find the Velacheri Sub Registrar Office?

The Velacheri Sub Registrar Office is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

How is stamp duty calculated for properties in Kannigapuram 10th Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 38,50,000, the stamp duty at 7% would be Rs 2,69,500.