Guideline Value for Kannigapuram 16th Street

Kannigapuram 16th Street guideline value

The current guideline value of Kannigapuram 16th 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. The land classification for this area is Residential Class II Type - III.

How the guideline value of Kannigapuram 16th Street has changed

The guideline value for Kannigapuram 16th Street has seen several revisions over the years. The register has no figure for this street in 2002, 2003, 2007, 2012, and 2017. The 2023 revision set the value at Rs 3,500 per sq.ft, which was then increased by 10% to Rs 3,850 per sq.ft in the 2024 revision.

This change reflects a consistent increase in the guideline value, with the most recent revision marking a significant step from the previous year's figure. The 2024 value is now established at Rs 3,850 per sq.ft, indicating an upward trajectory in the guideline values for this street.

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, positioning Kannigapuram 16th Street's 2024 figure below that median.

• Kannigapuram 15th Street: Rs 3,850 per sq.ft (2024)
• Kannigapuram 17th Street: Rs 3,850 per sq.ft (2024)
• Kannigapuram 14th Street: Rs 3,850 per sq.ft (2024)
• Kannigapuram 18th Street: Rs 3,850 per sq.ft (2024)
• Kannigapuram 13th Street: Rs 3,850 per sq.ft (2024)
• Kannigapuram 19th Street: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Kannigapuram 16th 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, bringing the total to Rs 3,46,500. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kannigapuram 16th Street?

The Sub Registrar Office that covers Kannigapuram 16th Street is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. To find your SRO, you can visit 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, as it determines the minimum price at which properties can be registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees applicable to the transaction.

It is important for buyers and sellers to be aware of the current guideline value to ensure compliance with registration requirements. The guideline value helps in establishing a fair transaction price and is essential for legal documentation during property registration.

Frequently asked questions

What is the current guideline value of Kannigapuram 16th Street?

The current guideline value of Kannigapuram 16th 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 for Kannigapuram 16th Street has increased from Rs 3,500 per sq.ft in 2023 to Rs 3,850 per sq.ft in 2024, marking a 10% increase. There are no figures available for the years 2002, 2003, 2007, 2012, and 2017.

What is the land classification for Kannigapuram 16th Street?

Kannigapuram 16th Street is classified as Residential Class II Type - III. This classification affects the guideline value and property usage in the area.

Where can I find the Sub Registrar Office for Kannigapuram 16th Street?

The Sub Registrar Office for Kannigapuram 16th Street is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

How is the stamp duty calculated for properties in Kannigapuram 16th Street?

Stamp duty for properties in Kannigapuram 16th Street is calculated based on the guideline value or the sale price, whichever is higher. For example, a property with a guideline value of Rs 38,50,000 would incur a stamp duty of Rs 2,69,500 at 7%.