Guideline Value for Kannigapuram 22nd Street

Kannigapuram 22nd Street guideline value

The current guideline value of Kannigapuram 22nd 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 22nd Street has changed

Over the years, the guideline value for Kannigapuram 22nd Street has undergone several revisions. The 2012 revision set the value at Rs 3,500 per sq.ft, which was a decrease of 33% from the Rs 2,345 per sq.ft recorded in the 2017 revision. The 2023 revision saw an increase to Rs 3,500 per sq.ft, which was then revised to Rs 3,850 per sq.ft in 2024, marking a 10% increase. The register does not have figures for the years 2002, 2003, and 2007.

From 2017 to 2023, the guideline value increased by 49%. Overall, from 2012 to 2024, there has been a 10% increase in the guideline value for this street.

Guideline values in Velachery

In Velachery, there are 2,691 streets under the Velacheri SRO that have 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 22nd Street is below this median.

• Kannigapuram 21st Street: Rs 3,850 per sq.ft (2024)
• Kannigapuram 23rd Street: Rs 3,850 per sq.ft (2024)
• Kannigapuram 20th Street: Rs 3,850 per sq.ft (2024)
• Kannigapuram 24th Street: Rs 3,850 per sq.ft (2024)
• Kannigapuram 25th Street: Rs 3,850 per sq.ft (2024)
• Kannigapuram 1st Street: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Kannigapuram 22nd 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, and the registration fee at 2% would be Rs 77,000, bringing the total to Rs 3,46,500. Please note that the duty is charged on the higher of the guideline value and the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kannigapuram 22nd Street?

The Sub Registrar Office that covers Kannigapuram 22nd 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 crucial factor when registering property in Velachery, as it determines the minimum value at which a property can be sold or bought. It is used to calculate the stamp duty and registration fees, ensuring that these charges are based on a standardized valuation.

When buying or selling property, the guideline value serves as a reference point for both parties, providing transparency in the transaction process. It is essential to be aware of the current guideline value to avoid any discrepancies during registration.

Frequently asked questions

What is the current guideline value of Kannigapuram 22nd Street?

The current guideline value of Kannigapuram 22nd 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 2023 to Rs 3,850 per sq.ft in 2024, which is a 10% increase. It was Rs 2,345 per sq.ft in 2017, showing a 49% increase to 2023.

What is the land classification of Kannigapuram 22nd Street?

Kannigapuram 22nd Street is classified as Residential Class II Type - III, indicating its suitability for residential development.

Where can I find the Sub Registrar Office for this area?

The Sub Registrar Office covering Kannigapuram 22nd Street is the Velacheri Sub Registrar Office, 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 1,000 sq.ft property at the current guideline value would incur a total of Rs 3,46,500 in fees.