Guideline Value for Kannikapuram

Kannikapuram guideline value

The current guideline value of Kannikapuram is Rs 130 per sq.ft, effective from 1 July 2024. This area falls under Thirumanikuppam village and is classified as Residential Class II Type - I, with the registration handled by the Sunguvarchattram SRO.

How the guideline value of Kannikapuram has changed

The guideline value for Kannikapuram has seen various revisions over the years. The earliest recorded figure is from 2012, where the guideline value was Rs 125 per sq.ft. This was followed by a decrease to Rs 84 per sq.ft in 2017, marking a decline of 33%. However, from 2017 to 2023, the value increased significantly by 50%, reaching Rs 126 per sq.ft. The latest revision in 2024 has further increased the guideline value to Rs 130 per sq.ft, reflecting a 3% rise from the previous year.

It is important to note that there are no recorded figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 4%.

Guideline values in Thirumanikuppam

Thirumanikuppam village has a total of 15 streets under the Sunguvarchattram SRO that carry a 2024 guideline value ranging from Rs 130 to Rs 200 per sq.ft. The median value for these streets is Rs 181 per sq.ft, placing the guideline value of Kannikapuram below this median.

• K K Nagar: Rs 200 per sq.ft (2024)
• Irular Colony: Rs 130 per sq.ft (2024)
• Mariamman Kovil Street: Rs 130 per sq.ft (2024)
• Chinna Street: Rs 130 per sq.ft (2024)
• Perumal Kovil Street: Rs 181 per sq.ft (2024)
• Ponniamman Kovil Street: Rs 155 per sq.ft (2024)

Stamp duty and registration fee for property in Kannikapuram

For a 1,000 sq.ft plot at the current rate of Rs 130 per sq.ft, the guideline value amounts to Rs 1,30,000. The stamp duty at 7% would be Rs 9,100, and the registration fee at 2% would be Rs 2,600, totaling Rs 11,700. 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 details.

Which Sub Registrar Office covers Kannikapuram?

Kannikapuram is covered by the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Thirumanikuppam. 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 buying or selling property, the guideline value helps in calculating the applicable stamp duty and registration fees, which are essential for the legal transfer of ownership. It is important for buyers and sellers to be aware of the current guideline value to ensure compliance with local regulations.

Frequently asked questions

What is the current guideline value for Kannikapuram?

The current guideline value for Kannikapuram is Rs 130 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 125 per sq.ft in 2012 to Rs 130 per sq.ft in 2024, with significant fluctuations in between, including a decrease to Rs 84 per sq.ft in 2017 and an increase to Rs 126 per sq.ft in 2023.

What are the guideline values for other streets in Thirumanikuppam?

Other streets in Thirumanikuppam have varying guideline values, ranging from Rs 130 to Rs 200 per sq.ft, with the median being Rs 181 per sq.ft. Kannikapuram's value is below this median.

What fees are associated with property transactions in Kannikapuram?

For property transactions in Kannikapuram, the stamp duty is charged at 7% and the registration fee at 2% of the guideline value or sale price, whichever is higher.

Which office handles registrations for Kannikapuram?

The Sunguvarchattram Sub Registrar Office handles registrations for Kannikapuram, located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu.