Guideline Value for Kanniyamman Koil Street

Kanniyamman Koil Street guideline value

The current guideline value of Kanniyamman Koil Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Virugambakkam village, under the Virugambakkam SRO, and falls under the Residential Class IV Type - I land classification.

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 450 per sq.ft. This increased to Rs 499 per sq.ft in 2003, marking an 11% rise. The value then saw a 50% increase to Rs 750 per sq.ft in 2007. Following this, the guideline value surged by 300% to Rs 3,000 per sq.ft in 2012. However, it experienced a decline of 33% to Rs 2,010 per sq.ft in 2017. The value then rose significantly by 49% to Rs 3,000 per sq.ft in 2023, before reaching the current rate of Rs 3,300 per sq.ft in 2024, reflecting a 10% increase.

There are no figures available for the years not mentioned in the register for this street.

Guideline values in Virugambakkam

In Virugambakkam, there are 391 streets under the Virugambakkam SRO that carry a 2024 guideline value ranging from Rs 2,750 to Rs 13,200 per sq.ft. The median guideline value in this area is Rs 4,400 per sq.ft, positioning Kanniyamman Koil Street's 2024 figure below this median.

• Kanniga Nagar Road: Rs 3,300 per sq.ft (2024)
• Kanniga Nagar: Rs 3,300 per sq.ft (2024)
• Karumari Street: Rs 2,750 per sq.ft (2024)
• Kambar Nagar & Kambar Nagar Extension(Ayyavupuram): Rs 3,300 per sq.ft (2024)
• Kasthuri Street (Tharachand Nagar): Rs 3,300 per sq.ft (2024)
• Kamaraj Road: Rs 7,700 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 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 to Rs 2,97,000. It is important to note that the 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 further 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 more information.

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

The guideline value is a crucial factor in property transactions, as it determines the minimum value at which a property can be registered. When buying or selling property in Virugambakkam, the guideline value is used to calculate the stamp duty and registration fees, ensuring that the transaction is documented accurately.

It is essential for buyers and sellers to be aware of the guideline value to avoid any discrepancies during the registration process. This value serves as a benchmark for property transactions, reflecting the official assessment of property worth in the area.

Frequently asked questions

What is the current guideline value of Kanniyamman Koil Street?

The current guideline value of Kanniyamman Koil Street 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 changed from Rs 450 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, showing an overall increase of 633% over the years.

What are the other guideline values in Virugambakkam?

In Virugambakkam, the guideline values for various streets range from Rs 2,750 to Rs 13,200 per sq.ft, with a median value of Rs 4,400 per sq.ft.

What is the stamp duty rate for property transactions?

The stamp duty rate for property transactions in this area is 7%, calculated on the higher of the guideline value or the sale price.

Where is the Sub Registrar Office for Kanniyamman Koil Street located?

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