Guideline Value for Kannigapuram 6th Street

Kannigapuram 6th Street guideline value

The current guideline value of Kannigapuram 6th 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 6th Street has changed

The guideline value for Kannigapuram 6th Street has undergone several revisions over the years. The earliest available figure is from the 2012 revision, which was Rs 3,500 per sq.ft. This value decreased to Rs 2,345 per sq.ft in the 2017 revision, marking a decline of 33%. However, the value increased significantly to Rs 3,500 per sq.ft in 2023, and then further rose by 10% to Rs 3,850 per sq.ft in the 2024 revision.

From 2012 to 2024, the overall change in guideline value is an increase of 10%. The 2023 to 2024 revision reflects a 10% increase, while the change from 2017 to 2023 shows a notable rise of 49%. There are no figures available for the revisions in 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 2024 guideline value, ranging from Rs 3,300 to Rs 13,200 per sq.ft. The median guideline value in this area is Rs 4,400 per sq.ft, placing Kannigapuram 6th Street's 2024 value below that median.

• Kannigapuram 5th Street: Rs 3,850 per sq.ft (2024)
• Kannigapuram 7th Street: Rs 3,850 per sq.ft (2024)
• Kannigapuram 4th Street: Rs 3,850 per sq.ft (2024)
• Kannigapuram 8th Street: Rs 3,850 per sq.ft (2024)
• Kannigapuram 3rd Street: Rs 3,850 per sq.ft (2024)
• Kannigapuram 9th Street: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Kannigapuram 6th 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 together to Rs 3,46,500. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kannigapuram 6th Street?

The Sub Registrar Office that covers Kannigapuram 6th Street is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Velachery. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately in the official records.

When you proceed with a property transaction, the guideline value is used to calculate the stamp duty and registration fees that need to be paid. This ensures that both the buyer and seller are aware of the costs involved in the transaction, based on the established guideline value.

Frequently asked questions

What is the current guideline value of Kannigapuram 6th Street?

The current guideline value of Kannigapuram 6th 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 are the stamp duty and registration fees for property in Kannigapuram 6th 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 office handles the registration for Kannigapuram 6th Street?

The Velacheri Sub Registrar Office handles the registration for Kannigapuram 6th Street, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

What is the land classification for Kannigapuram 6th Street?

Kannigapuram 6th Street is classified as Residential Class II Type - III, indicating its suitability for residential development.