Guideline Value for Kannigapuram 11th Street

Kannigapuram 11th Street guideline value

The current guideline value of Kannigapuram 11th Street is Rs 3,850 per sq.ft, effective from 1 July 2024. This street is located in Velachery village and falls under the Velacheri SRO. It is classified as Residential Class II Type - III.

How the guideline value of Kannigapuram 11th Street has changed

The guideline value for Kannigapuram 11th Street has undergone several revisions over the years. The 2012 revision set the guideline value at Rs 3,500 per sq.ft, which remained unchanged in the 2023 revision. However, in the latest 2024 revision, the guideline value increased to Rs 3,850 per sq.ft, reflecting a 10% rise from the previous year.

There are no recorded figures for this street in the revisions for the years 2002, 2003, 2007, and 2017. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%.

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 of Rs 4,400 per sq.ft. The guideline value of Kannigapuram 11th Street at Rs 3,850 per sq.ft is below this median.

• Kannigapuram 10th Street: Rs 3,850 per sq.ft (2024)
• Kannigapuram 12th Street: Rs 3,850 per sq.ft (2024)
• Kannigapuram: 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 11th 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 cost for these fees to Rs 3,46,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kannigapuram 11th Street?

The Sub Registrar Office that covers Kannigapuram 11th Street is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for more information.

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

The guideline value is a critical factor in the registration process when buying or selling property in Velachery. It serves as a benchmark for determining the stamp duty and registration fees, which are calculated based on the guideline value or the sale price, whichever is higher.

When a property is registered, the guideline value helps ensure that the transaction is recorded at a fair value, reflecting the current market conditions as set by the Registration Department. This process is essential for maintaining transparency and accountability in real estate transactions.

Frequently asked questions

What is the current guideline value of Kannigapuram 11th Street?

The current guideline value of Kannigapuram 11th Street is Rs 3,850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,500 per sq.ft in 2012 to Rs 3,850 per sq.ft in 2024, reflecting a 10% increase overall. The value remained unchanged between the 2012 and 2023 revisions.

What is the land classification for Kannigapuram 11th Street?

Kannigapuram 11th Street is classified as Residential Class II Type - III, indicating its designation for residential use.

What are the stamp duty and registration fees for this street?

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty and registration fees would amount to Rs 3,46,500. This includes a stamp duty of Rs 2,69,500 and a registration fee of Rs 77,000.

Which office handles registrations for Kannigapuram 11th Street?

The Velacheri Sub Registrar Office handles registrations for Kannigapuram 11th Street, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.