Guideline Value for Kannigapuram 5th Street

Kannigapuram 5th Street guideline value

The current guideline value of Kannigapuram 5th 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 5th Street has changed

Since the 2012 revision, the guideline value for Kannigapuram 5th Street has seen several changes. The value was Rs 3,500 per sq.ft in 2012, which decreased to Rs 2,345 per sq.ft in 2017. Following this, the value increased significantly to Rs 3,500 per sq.ft in 2023, and then further rose to Rs 3,850 per sq.ft in 2024, marking a 10% increase from the previous year.

From 2017 to 2023, the value increased by 49%. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Velachery

In Velachery, there are 2,691 streets under the Velacheri SRO that carry a guideline value for 2024, 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 5th Street is below this median.

• Kannigapuram 4th Street: Rs 3,850 per sq.ft (2024)
• Kannigapuram 6th Street: Rs 3,850 per sq.ft (2024)
• Kannigapuram 3rd Street: Rs 3,850 per sq.ft (2024)
• Kannigapuram 7th Street: Rs 3,850 per sq.ft (2024)
• Kannigapuram 30th Street: Rs 3,850 per sq.ft (2024)
• Kannigapuram 8th Street: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Kannigapuram 5th 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 our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kannigapuram 5th Street?

The Sub Registrar Office that covers Kannigapuram 5th 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 for property transactions in Velachery. It serves as the benchmark for determining the stamp duty and registration fees payable at the time of property registration.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair value, which is essential for legal and taxation purposes. Buyers and sellers should be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Kannigapuram 5th Street?

The current guideline value of Kannigapuram 5th 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 increased 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 5th Street?

Kannigapuram 5th Street is classified as Residential Class II Type - III.

What are the stamp duty and registration fees for property in Kannigapuram 5th Street?

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.

Which Sub Registrar Office covers this area?

The Velacheri Sub Registrar Office covers Kannigapuram 5th Street, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.