Guideline Value for Kannigapuram 27th Street

Kannigapuram 27th Street guideline value

The current guideline value of Kannigapuram 27th 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 27th Street has changed

The guideline value for Kannigapuram 27th Street has seen several revisions over the years. The 2012 revision set the value at Rs 3,500 per sq.ft, which was followed by a decrease to Rs 2,345 per sq.ft in 2017. The value then increased significantly to Rs 3,500 per sq.ft in 2023, and further rose to the current figure of Rs 3,850 per sq.ft in 2024. There are no figures available for the years 2002, 2003, and 2007.

Between the revisions, the changes are noteworthy. From 2012 to 2017, there was a decrease of 33%. However, from 2017 to 2023, the value increased by 49%. The most recent change from 2023 to 2024 reflects a 10% increase. 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 that carry 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, indicating that the guideline value for Kannigapuram 27th Street is below the median.

• Kannigapuram 26th Street: Rs 3,850 per sq.ft (2024)
• Kannigapuram 28th Street: Rs 3,850 per sq.ft (2024)
• Kannigapuram 25th Street: Rs 3,850 per sq.ft (2024)
• Kannigapuram 29th Street: Rs 3,850 per sq.ft (2024)
• Kannigapuram 24th Street: Rs 3,850 per sq.ft (2024)
• Kannigapuram 2nd Street: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Kannigapuram 27th 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 to Rs 3,46,500. It is important to note that duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Kannigapuram 27th Street?

The Sub Registrar Office covering Kannigapuram 27th Street is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. For more information, you can find your SRO.

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

The guideline value is a crucial factor in the registration process of property transactions in Velachery. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these costs are assessed based on the official value set by the government.

When buying or selling property, it is essential to be aware of the guideline value, as it can significantly impact the overall costs involved in the transaction. Buyers and sellers should consult the latest revisions to ensure they are informed of the current rates applicable to their property.

Frequently asked questions

What is the current guideline value of Kannigapuram 27th Street?

The current guideline value of Kannigapuram 27th 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 significantly from Rs 3,500 per sq.ft in 2012 to Rs 2,345 per sq.ft in 2017, then increasing to Rs 3,500 per sq.ft in 2023, and finally reaching Rs 3,850 per sq.ft in 2024.

What is the land classification for Kannigapuram 27th Street?

Kannigapuram 27th Street is classified as Residential Class II Type - III.

Where can I find the Sub Registrar Office for Kannigapuram 27th Street?

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 properties in Kannigapuram 27th Street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. Additionally, a registration fee of 2% is also applicable.