Guideline Value for Kannigapuram 1st Street

Kannigapuram 1st Street guideline value

The current guideline value of Kannigapuram 1st Street is Rs 3,850 per sq.ft. 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 1st Street has changed

According to the register, there are no figures for Kannigapuram 1st Street for the years 2002, 2003, 2007, 2012, 2017, and 2023. The only revision available is from 2024, which sets the guideline value at Rs 3,850 per sq.ft, effective from 1 July 2024.

Since there are no previous figures recorded for this street, there are no changes to report between revisions. The current guideline value stands alone as the only available figure for this street.

Guideline values in Velachery

In Velachery, there are 2,691 streets under the Velacheri SRO that carry a 2024 guideline value. These values range 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 of Kannigapuram 1st Street is below this median.

• Kannigapuram 19th Street: Rs 3,850 per sq.ft (2024)
• Kannigapuram 18th Street: Rs 3,850 per sq.ft (2024)
• Kannigapuram 20th Street: Rs 3,850 per sq.ft (2024)
• Kannigapuram 17th Street: Rs 3,850 per sq.ft (2024)
• Kannigapuram 21st Street: Rs 3,850 per sq.ft (2024)
• Kannigapuram 16th Street: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Kannigapuram 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,850 per sq.ft, the total guideline value would be Rs 38,50,000. The stamp duty at 7% would amount to Rs 2,69,500, while the registration fee at 2% would be Rs 77,000. Together, the total cost for stamp duty and registration would be 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 more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kannigapuram 1st Street?

The Sub Registrar Office that covers Kannigapuram 1st 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 crucial when registering property in Velachery, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value to calculate the applicable stamp duty and registration fees during the transaction.

When buying or selling property, it is essential to ensure that the sale price is at least equal to the guideline value to avoid any legal issues during registration. The guideline value serves as a benchmark for property transactions in the area.

Frequently asked questions

What is the current guideline value of Kannigapuram 1st Street?

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

Has the guideline value changed in recent years?

There are no recorded figures for Kannigapuram 1st Street in the years 2002, 2003, 2007, 2012, 2017, and 2023. The only available figure is from the 2024 revision.

What is the land classification for Kannigapuram 1st Street?

The land classification for Kannigapuram 1st Street is Residential Class II Type - III.

What are the stamp duty and registration fees for property in this area?

For a property valued at Rs 38,50,000, the stamp duty would be Rs 2,69,500, and the registration fee would be Rs 77,000, totaling Rs 3,46,500.

Where can I find the Sub Registrar Office for Kannigapuram 1st Street?

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