Guideline Value for Kannikapuram 3rd Street

Kannikapuram 3rd Street guideline value

The current guideline value of Kannikapuram 3rd Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Kodambakkam village and falls under the Ashok Nagar SRO. The land classification for this area is Residential Class IV Type - II.

How the guideline value of Kannikapuram 3rd Street has changed

The guideline value for Kannikapuram 3rd Street has seen several revisions over the years. The most recent revision in 2024 set the value at Rs 3,300 per sq.ft, which is an increase of 10% from Rs 3,000 per sq.ft in the 2023 revision. Notably, the 2012 revision also listed the value at Rs 3,000 per sq.ft, indicating no change during the 2023 revision period.

There are no figures available for the revisions in 2002, 2003, 2007, and 2017 for this street. Overall, from the 2012 revision to the 2024 revision, the guideline value increased by 10%.

Guideline values in Kodambakkam

Kodambakkam village has a total of 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 for these streets is Rs 4,900 per sq.ft, which means that the 2024 guideline value of Rs 3,300 per sq.ft for Kannikapuram 3rd Street is below the median.

• Kannikapuram 2nd Street: Rs 3,300 per sq.ft (2024)
• Kannikapuram 4th Street: Rs 3,300 per sq.ft (2024)
• Kannikapuram 1st Street: Rs 3,300 per sq.ft (2024)
• Kannikapuram: 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 3rd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, while the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. It is important to note that 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 detailed calculations.

Which Sub Registrar Office covers Kannikapuram 3rd Street?

The Sub Registrar Office that covers Kannikapuram 3rd 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 when registering a property in Kodambakkam. It serves as a benchmark for determining the minimum value at which a property can be sold or bought, ensuring that the transaction is recorded accurately for tax purposes.

When you sell or buy property, the guideline value will influence the stamp duty and registration fees that need to be paid. It is essential to 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 Kannikapuram 3rd Street?

The current guideline value of Kannikapuram 3rd 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 2023 to Rs 3,300 per sq.ft in 2024, marking a 10% increase. There was no change from 2012 to 2023, where the value remained at Rs 3,000 per sq.ft.

What are the stamp duty and registration fees for this property?

For a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 and the registration fee would be Rs 66,000, totaling Rs 2,97,000. Duty is charged on the higher of the guideline value or the sale price.

Which Sub Registrar Office covers Kannikapuram 3rd Street?

The Ashok Nagar Sub Registrar Office covers Kannikapuram 3rd Street, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

What is the land classification for Kannikapuram 3rd Street?

The land classification for Kannikapuram 3rd Street is Residential Class IV Type - II.