Guideline Value for Kannikapuram 1st Street

Kannikapuram 1st Street guideline value

The current guideline value of Kannikapuram 1st Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Kodambakkam village under the Ashok Nagar SRO, classified as Residential Class IV Type - II.

How the guideline value of Kannikapuram 1st Street has changed

The guideline value for Kannikapuram 1st Street has undergone several revisions over the years. The 2012 revision set the value at Rs 3,000 per sq.ft, which remained unchanged in the 2023 revision. However, the 2024 revision saw an increase to Rs 3,300 per sq.ft, marking a 10% rise from the previous year.

It is important to note that there are no figures available for this street in the revisions of 2002, 2003, 2007, and 2017. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%.

Guideline values in Kodambakkam

Kodambakkam village features 1,031 streets under the Ashok Nagar SRO, with guideline values ranging from Rs 2,200 to Rs 11,000 per sq.ft. The median guideline value in this area is Rs 4,900 per sq.ft, placing the 2024 figure for Kannikapuram 1st Street below this median.

• Kannikapuram 2nd Street: Rs 3,300 per sq.ft (2024)
• Kannikapuram: Rs 3,300 per sq.ft (2024)
• Kannikapuram 3rd Street: Rs 3,300 per sq.ft (2024)
• Kannikapuram 4th Street: Rs 3,300 per sq.ft (2024)
• Kanni Street: Rs 4,100 per sq.ft (2024)
• Kanniyappan Street: Rs 4,100 per sq.ft (2024)

Stamp duty and registration fee for property in Kannikapuram 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total charges to Rs 2,97,000. It is important to 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 Kannikapuram 1st Street?

The Sub Registrar Office that covers Kannikapuram 1st Street is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By Nolambur Eb Office). You can find your SRO for more information.

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

The guideline value is a crucial factor during property transactions in Kodambakkam. It serves as a benchmark for determining the stamp duty and registration fees that must be paid when buying or selling property in the area.

When registering a property, the guideline value ensures that the transaction is recorded at a fair value, which helps in maintaining transparency in the real estate market. Buyers and sellers should be aware of the current guideline value to ensure compliance with registration requirements.

Frequently asked questions

What is the current guideline value of Kannikapuram 1st Street?

The current guideline value of Kannikapuram 1st Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 3,000 per sq.ft in 2012 to Rs 3,300 per sq.ft in 2024, reflecting a 10% rise overall. There were no changes recorded for this street in the revisions from 2002, 2003, 2007, and 2017.

What are the guideline values in Kodambakkam?

Kodambakkam village has 1,031 streets under the Ashok Nagar SRO, with guideline values ranging from Rs 2,200 to Rs 11,000 per sq.ft. The median guideline value is Rs 4,900 per sq.ft, making the value for Kannikapuram 1st Street below this median.

How are stamp duty and registration fees calculated?

Stamp duty is charged at 7% of the guideline value or the sale price, whichever is higher, while the registration fee is charged at 2%. For example, a 1,000 sq.ft plot at the current rate would incur a total of Rs 2,97,000 in charges.

Where can I find my Sub Registrar Office?

The Sub Registrar Office for Kannikapuram 1st Street is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037. You can find more information by visiting the appropriate link.