Guideline Value for Kanniyappa Nagar Street

Kanniyappa Nagar Street guideline value

The current guideline value of Kanniyappa Nagar Street is Rs 3,400 per sq.ft, effective from 1 July 2024. This street is located in Satthankadu village under the Thiruvottiyur SRO, classified as Residential Special Type - III.

How the guideline value of Kanniyappa Nagar Street has changed

The guideline value for Kanniyappa Nagar Street has seen several revisions over the years. In the 2007 revision, the value was Rs 600 per sq.ft, which increased significantly to Rs 3,100 per sq.ft in the 2012 revision, marking a substantial rise of 417%. However, in the 2017 revision, the value decreased to Rs 2,077 per sq.ft, reflecting a drop of 33%. The 2023 revision brought the value back up to Rs 3,100 per sq.ft, and the most recent 2024 revision set it at Rs 3,400 per sq.ft, an increase of 10% from the previous year.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 467%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Satthankadu

In Satthankadu village, there are 71 streets under the Thiruvottiyur SRO that have a 2024 guideline value ranging from Rs 2,200 to Rs 5,500 per sq.ft, with a median value of Rs 3,400 per sq.ft. The guideline value of Kanniyappa Nagar Street aligns with this median.

• Kavarai street: Rs 3,400 per sq.ft (2024)
• Kavari Street: Rs 3,400 per sq.ft (2024)
• Kumaran Nagar: Rs 3,400 per sq.ft (2024)
• Jandravar Street: Rs 2,800 per sq.ft (2024)
• Janagiammal Estate: Rs 3,400 per sq.ft (2024)
• Jagannatha Gramani Thottam: Rs 3,400 per sq.ft (2024)

Stamp duty and registration fee for property in Kanniyappa Nagar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,400 per sq.ft, the total guideline value amounts to Rs 34,00,000. The stamp duty at 7% would be Rs 2,38,000, and the registration fee at 2% would be Rs 68,000, totaling Rs 3,06,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kanniyappa Nagar Street?

The Sub Registrar Office that covers Kanniyappa Nagar Street is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for more information.

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

The guideline value is a critical factor in the registration process when buying or selling property in Satthankadu. It determines the minimum value at which a property can be registered and is used to calculate the stamp duty and registration fees that need to be paid at the time of registration.

Understanding the guideline value helps buyers and sellers ensure compliance with legal requirements during property transactions. It serves as a benchmark for assessing property values within the region.

Frequently asked questions

What is the current guideline value of Kanniyappa Nagar Street?

The current guideline value of Kanniyappa Nagar Street is Rs 3,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2007 to Rs 3,400 per sq.ft in 2024, reflecting an overall increase of 467% over the years.

What is the classification of land on Kanniyappa Nagar Street?

Kanniyappa Nagar Street is classified as Residential Special Type - III under the Thiruvottiyur SRO.

What are the stamp duty and registration fees for property in this area?

For a property valued at Rs 34,00,000, the stamp duty would be Rs 2,38,000 and the registration fee would be Rs 68,000, totaling Rs 3,06,000.

Where is the Sub Registrar Office located for Kanniyappa Nagar Street?

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