Guideline Value for Kannigapuram 30th Street

Kannigapuram 30th Street guideline value

The current guideline value of Kannigapuram 30th 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 30th Street has changed

The guideline value for Kannigapuram 30th Street has undergone several revisions over the years. The earliest figure available is from 2012, where the value was Rs 3,500 per sq.ft. This was followed by a decrease to Rs 2,345 per sq.ft in 2017, marking a decline of 33%. In 2023, the value increased to Rs 3,500 per sq.ft, and the most recent revision in 2024 set the value at Rs 3,850 per sq.ft, reflecting a 10% increase from the previous year.

There are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has seen a net increase of 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, positioning Kannigapuram 30th Street's 2024 figure below that median.

• Kannigapuram 3rd Street: Rs 3,850 per sq.ft (2024)
• Kannigapuram 2nd Street: Rs 3,850 per sq.ft (2024)
• Kannigapuram 4th Street: Rs 3,850 per sq.ft (2024)
• Kannigapuram 29th Street: Rs 3,850 per sq.ft (2024)
• Kannigapuram 5th Street: Rs 3,850 per sq.ft (2024)
• Kannigapuram 28th Street: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Kannigapuram 30th Street

For a 1,000 sq.ft plot at the current rate, the 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, totaling 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 information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kannigapuram 30th Street?

The Sub Registrar Office that covers Kannigapuram 30th 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 details.

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 determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps both buyers and sellers understand the official valuation of the property. It is essential to be aware of the current guideline value to ensure compliance with registration requirements.

Frequently asked questions

What is the current guideline value of Kannigapuram 30th Street?

The current guideline value of Kannigapuram 30th 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 2012 to Rs 2,345 per sq.ft in 2017, then back to Rs 3,500 per sq.ft in 2023, and finally to Rs 3,850 per sq.ft in 2024.

What is the land classification for Kannigapuram 30th Street?

Kannigapuram 30th Street is classified as Residential Class II Type - III.

Where can I find the Sub Registrar Office for Kannigapuram 30th Street?

The Sub Registrar Office for Kannigapuram 30th Street is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

How is stamp duty calculated for properties in Kannigapuram 30th Street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current guideline value, the stamp duty would amount to Rs 2,69,500.