Guideline Value for Kannigapuram 26th Street

Kannigapuram 26th Street guideline value

The current guideline value of Kannigapuram 26th Street is Rs 3,850 per sq.ft, effective from 1 July 2024. This street is located in Velachery village under the Velacheri SRO, classified as Residential Class II Type - III.

How the guideline value of Kannigapuram 26th Street has changed

The guideline value for Kannigapuram 26th Street has seen several revisions over the years. The most recent revision in 2024 set the value at Rs 3,850 per sq.ft, an increase of 10% from Rs 3,500 per sq.ft in 2023. Prior to that, the value was Rs 2,345 per sq.ft in 2017, marking a significant increase of 49% from the previous revision, while the 2012 value was also Rs 3,500 per sq.ft, reflecting a decrease of 33% from 2017.

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

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 guideline value is Rs 4,400 per sq.ft, placing Kannigapuram 26th Street's 2024 figure below this median.

• Kannigapuram 25th Street: Rs 3,850 per sq.ft (2024)
• Kannigapuram 27th Street: Rs 3,850 per sq.ft (2024)
• Kannigapuram 24th Street: Rs 3,850 per sq.ft (2024)
• Kannigapuram 28th Street: Rs 3,850 per sq.ft (2024)
• Kannigapuram 23rd Street: Rs 3,850 per sq.ft (2024)
• Kannigapuram 29th Street: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Kannigapuram 26th 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 fees to Rs 3,46,500. Note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more accurate calculations.

Which Sub Registrar Office covers Kannigapuram 26th Street?

The Sub Registrar Office that covers Kannigapuram 26th 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 plays a crucial role during property transactions in Velachery. It is used to determine the stamp duty and registration fees that buyers must pay when purchasing property. This ensures that the government receives appropriate revenue based on the property’s assessed value.

When selling property, the guideline value can influence the sale price, as it serves as a benchmark for buyers and sellers. It is important for both parties to be aware of the current guideline value to facilitate a smooth transaction.

Frequently asked questions

What is the current guideline value of Kannigapuram 26th Street?

The current guideline value of Kannigapuram 26th 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 2,345 per sq.ft in 2017 to Rs 3,850 per sq.ft in 2024, with several revisions in between, including Rs 3,500 in 2023 and 2012.

What is the land classification for Kannigapuram 26th Street?

Kannigapuram 26th 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 is the stamp duty calculated for property in Kannigapuram 26th Street?

Stamp duty is calculated at 7% of the guideline value or 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.