Guideline Value for Kanniyala Layout

Kanniyala Layout guideline value

The current guideline value of Kanniyala Layout is Rs 1,600 per sq.ft, effective from 1 July 2024. This layout is located in Ernavur village under the Thiruvottiyur Sub Registrar Office (SRO) and falls under the Residential Class I Type - II land classification.

How the guideline value of Kanniyala Layout has changed

The guideline value for Kanniyala Layout has seen several revisions over the years. In 2007, the value was Rs 435 per sq.ft, which increased significantly to Rs 1,500 per sq.ft in 2012. However, this figure dropped to Rs 1,005 per sq.ft in 2017, before rising again to Rs 1,500 per sq.ft in 2023. The most recent revision in 2024 set the value at Rs 1,600 per sq.ft, marking a 7% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 268%. The revisions for 2002 and 2003 do not have figures available for this street in the register.

Guideline values in Ernavur

Ernavur village has a total of 82 streets under the Thiruvottiyur SRO, with 2024 guideline values ranging from Rs 1,000 to Rs 7,300 per sq.ft. The median value for these streets is Rs 1,600 per sq.ft, which is the same as the guideline value for Kanniyala Layout.

• Kasikoil Kuppam: Rs 1,600 per sq.ft (2024)
• Kasi Koil Meenavar colony: Rs 1,600 per sq.ft (2024)
• Kasi Visalakshmi Kuppam: Rs 1,600 per sq.ft (2024)
• Kasi Viswanathar Koilkuppam: Rs 1,600 per sq.ft (2024)
• Kamarajar Nagar/ Main Streets/ Cross Streets: Rs 1,600 per sq.ft (2024)
• Kamalammal Street: Rs 1,800 per sq.ft (2024)

Stamp duty and registration fee for property in Kanniyala Layout

For a 1,000 sq.ft plot at the current guideline value of Rs 1,600 per sq.ft, the total guideline value amounts to Rs 16,00,000. The stamp duty at 7% would be Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, bringing the total to Rs 1,44,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kanniyala Layout?

The Kanniyala Layout is covered by the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. To find your SRO, you can visit find your SRO.

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

The guideline value is a critical factor during property transactions in Ernavur. It is used to determine the stamp duty and registration fees that need to be paid when a property is bought or sold. This value helps ensure that the appropriate taxes are collected based on the property's assessed worth.

When registering a property, buyers should be aware that the guideline value may differ from the actual sale price. The authorities will charge duty based on the higher of the two amounts, ensuring that the correct fees are applied during the registration process.

Frequently asked questions

What is the current guideline value of Kanniyala Layout?

The current guideline value of Kanniyala Layout is Rs 1,600 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has increased from Rs 435 per sq.ft in 2007 to Rs 1,600 per sq.ft in 2024, representing an overall increase of 268% over the years.

What is the land classification for Kanniyala Layout?

Kanniyala Layout falls under the Residential Class I Type - II land classification as per the guidelines.

Where is the Thiruvottiyur Sub Registrar Office located?

The Thiruvottiyur Sub Registrar Office is located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.

How is stamp duty calculated for properties in Kanniyala Layout?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a 1,000 sq.ft plot at the guideline value of Rs 1,600 per sq.ft would incur a total guideline value of Rs 16,00,000.