Guideline Value for Kannikapuram

Kannikapuram guideline value

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

How the guideline value of Kannikapuram has changed

The guideline value for Kannikapuram has seen significant changes over the years. In 2007, the value was Rs 800 per sq.ft, which increased to Rs 3,000 per sq.ft in 2012, marking a substantial rise of 275%. This value remained unchanged until the 2023 revision, where it was still Rs 3,000 per sq.ft. However, in 2024, the guideline value increased by 10% to Rs 3,300 per sq.ft.

There are no figures available for the revisions in 2002, 2003, and 2017 for this street. Overall, from 2007 to 2024, the guideline value has increased by 313%.

Guideline values in Kodambakkam

Kodikambakkam 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 value for these streets is Rs 4,900 per sq.ft, placing the 2024 figure for Kannikapuram below the median.

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

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 fees together 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 also use our stamp duty and registration fee calculator for more accurate calculations.

Which Sub Registrar Office covers Kannikapuram?

The Sub Registrar Office that covers Kannikapuram is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Kodambakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value is compared with the sale price, and the higher amount is used to calculate the necessary fees. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value for Kannikapuram?

The current guideline value for Kannikapuram 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 800 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, marking an overall increase of 313% over the years.

What are the other streets in Kodambakkam with similar guideline values?

Other streets in Kodambakkam with a guideline value of Rs 3,300 per sq.ft include Kannikapuram 1st, 2nd, 3rd, and 4th Streets.

What fees are associated with buying property in Kannikapuram?

When buying property in Kannikapuram, the stamp duty is charged at 7% of the guideline value, and the registration fee is charged at 2% of the guideline value.

Where is the Sub Registrar Office for Kannikapuram located?

The Sub Registrar Office for Kannikapuram is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office.