Guideline Value for Kanniyamman Koil 1st Cross Street

Kanniyamman Koil 1st Cross Street guideline value

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

How the guideline value of Kanniyamman Koil 1st Cross Street has changed

The guideline value for Kanniyamman Koil 1st Cross Street has seen several revisions over the years. In 2002, the value was Rs 487 per sq.ft, which increased to Rs 535 per sq.ft in 2003. The value then rose significantly to Rs 650 per sq.ft in 2007, followed by a substantial jump to Rs 2,500 per sq.ft in 2012. However, this figure decreased to Rs 1,675 per sq.ft in 2017. The value then increased again to Rs 2,500 per sq.ft in 2023, before reaching the current rate of Rs 2,750 per sq.ft in 2024.

Overall, from 2002 to 2024, the guideline value has increased by 465%. The changes between the revisions include a 10% increase from 2023 to 2024, a 49% increase from 2017 to 2023, a 33% decrease from 2012 to 2017, a 285% increase from 2007 to 2012, a 21% increase from 2003 to 2007, and a 10% increase from 2002 to 2003. The register has no figures for any other years.

Guideline values in Nesapakkam

Nesapakkam has a total of 148 streets under the Virugambakkam SRO, with guideline values ranging from Rs 2,200 to Rs 7,150 per sq.ft as of 2024. The median guideline value in the village is Rs 3,300 per sq.ft, placing Kanniyamman Koil 1st Cross Street's 2024 figure below that median.

• Kanniyamman Koil 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 1st Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value would be Rs 27,50,000. The stamp duty at 7% would amount to Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, bringing the total to Rs 2,47,500. 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 Kanniyamman Koil 1st Cross Street?

The Sub Registrar Office that covers Kanniyamman Koil 1st Cross Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. To find your SRO, you can visit find your SRO.

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

The guideline value is a critical factor 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 transaction is documented at a fair value.

When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees, which are mandatory for the legal transfer of property ownership. This ensures that all transactions are recorded accurately and transparently within the real estate market.

Frequently asked questions

What is the current guideline value of Kanniyamman Koil 1st Cross Street?

The current guideline value of Kanniyamman Koil 1st Cross 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 changed significantly, increasing from Rs 487 per sq.ft in 2002 to Rs 2,750 per sq.ft in 2024, which represents an overall increase of 465% over this period.

What is the land classification for Kanniyamman Koil 1st Cross Street?

Kanniyamman Koil 1st Cross Street is classified as Residential Class II Type - II, indicating its suitability for residential development.

Where can I find the Sub Registrar Office for this area?

The Virugambakkam Sub Registrar Office covers Kanniyamman Koil 1st Cross Street, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

How is stamp duty calculated for properties in this area?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 27,50,000 would incur a stamp duty of Rs 1,92,500 at the rate of 7%.