Guideline Value for Kanniyamman Koil Street

Kanniyamman Koil Street guideline value

The current guideline value of Kanniyamman Koil Street is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Nesapakkam village under the Virugambakkam SRO, classified as Residential Class II Type - II.

How the guideline value of Kanniyamman Koil Street has changed

The guideline value for Kanniyamman Koil Street has undergone several revisions over the years. In 2002, the value was Rs 487 per sq.ft, and it increased to Rs 535 per sq.ft in 2003, marking a rise of 10%. The value saw a significant jump to Rs 1,461 per sq.ft in 2007, which was a 173% increase. Following this, the value rose to Rs 2,500 per sq.ft in 2012, reflecting a 71% increase. However, from 2012 to 2017, the value decreased to Rs 1,675 per sq.ft, a drop of 33%. The value then increased substantially to Rs 2,500 per sq.ft in 2023, marking a 49% increase, and finally, it reached Rs 2,750 per sq.ft in 2024, a 10% rise.

There are no figures available for the revisions of this street in the years not mentioned. The overall change from 2002 to 2024 is an increase of 465%.

Guideline values in Nesapakkam

Nesapakkam village has a total of 148 streets under the Virugambakkam SRO, with guideline values for 2024 ranging from Rs 2,200 to Rs 7,150 per sq.ft. The median value for these streets is Rs 3,300 per sq.ft, indicating that the guideline value of Kanniyamman Koil Street is below this median.

• Kanniyamman Koil 1st Cross Street: Rs 2,750 per sq.ft (2024)
• Jayalalitha Nagar - Zeenath Sharbudeen Street: Rs 2,200 per sq.ft (2024)
• Jayalalitha Nagar - Krishna Moorthy Street: Rs 2,200 per sq.ft (2024)
• Jayalalitha Nagar - Govindan Street: Rs 2,200 per sq.ft (2024)
• Jayalalitha Nagar - Ganesan Street: Rs 2,200 per sq.ft (2024)
• Jayalalitha Nagar: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Kanniyamman Koil Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value amounts to Rs 27,50,000. The stamp duty at 7% would be Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, bringing the total fees to Rs 2,47,500. 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 detailed calculations.

Which Sub Registrar Office covers Kanniyamman Koil Street?

The Sub Registrar Office that covers Kanniyamman Koil Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for further assistance.

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

The guideline value plays a crucial role during the registration of property transactions in Nesapakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees.

When buying or selling property, the guideline value is used to calculate the applicable fees. Buyers should be aware that the stamp duty is charged on the higher of the guideline value or the sale price, which helps in maintaining transparency in property transactions.

Frequently asked questions

What is the current guideline value of Kanniyamman Koil Street?

The current guideline value of Kanniyamman Koil Street is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 487 per sq.ft in 2002 to Rs 2,750 per sq.ft in 2024, reflecting an overall increase of 465% over the years.

What is the median guideline value for streets in Nesapakkam?

The median guideline value for streets in Nesapakkam is Rs 3,300 per sq.ft, with Kanniyamman Koil Street's value being below this median.

What fees are applicable when registering property in Kanniyamman Koil Street?

For a property valued at the guideline rate, the stamp duty is charged at 7%, and the registration fee is charged at 2% of the guideline value. Together, these fees can amount to a significant sum.

Where can I find the Sub Registrar Office for Kanniyamman Koil Street?

The Virugambakkam Sub Registrar Office is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037, and it handles registrations for Kanniyamman Koil Street.