Guideline Value for Kannigapuram 15th Street

Kannigapuram 15th Street guideline value

The current guideline value of Kannigapuram 15th 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 15th Street has changed

The guideline value register for Kannigapuram 15th Street shows no figures for the years 2002, 2003, 2007, 2012, and 2017. In the 2023 revision, the guideline value was Rs 3,500 per sq.ft, and in the 2024 revision, it increased by 10% to Rs 3,850 per sq.ft.

This increase reflects a rise in the guideline value from the previous year. The 2023 to 2024 revision marked a significant change in the value for this street, highlighting the adjustments made in the guideline value for property transactions.

Guideline values in Velachery

In Velachery, there are 2,691 streets under the Velacheri SRO with a 2024 guideline value ranging from Rs 3,300 to Rs 13,200 per sq.ft. The median value for these streets is Rs 4,400 per sq.ft, placing the guideline value of Kannigapuram 15th Street below the median.

• Kannigapuram 14th Street: Rs 3,850 per sq.ft (2024)
• Kannigapuram 16th Street: Rs 3,850 per sq.ft (2024)
• Kannigapuram 13th Street: Rs 3,850 per sq.ft (2024)
• Kannigapuram 17th Street: Rs 3,850 per sq.ft (2024)
• Kannigapuram 12th Street: Rs 3,850 per sq.ft (2024)
• Kannigapuram 18th Street: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Kannigapuram 15th Street

For a 1,000 sq.ft plot at the current rate of Rs 3,850 per sq.ft, the guideline value would be Rs 38,50,000. The stamp duty at 7% would amount to Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, totaling Rs 3,46,500. 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 Kannigapuram 15th Street?

The Sub Registrar Office that covers Kannigapuram 15th Street is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. To find your SRO, visit find your SRO.

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

The guideline value plays a crucial role in property transactions in Velachery, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value when negotiating sale prices to ensure compliance with local regulations.

When registering a property, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Kannigapuram 15th Street?

The current guideline value of Kannigapuram 15th Street is Rs 3,850 per sq.ft, effective from 1 July 2024.

How much did the guideline value change from 2023 to 2024?

The guideline value increased from Rs 3,500 per sq.ft in 2023 to Rs 3,850 per sq.ft in 2024, marking a 10% increase.

What is the land classification for Kannigapuram 15th Street?

Kannigapuram 15th Street is classified as Residential Class II Type - III.

Where is the Velacheri Sub Registrar Office located?

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

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 38,50,000 would incur a stamp duty of Rs 2,69,500 and a registration fee of Rs 77,000.