Guideline Value for Kanniyappan Street

Kanniyappan Street guideline value

The current guideline value of Kanniyappan Street is Rs 4,100 per sq.ft, effective from 1 July 2024. This street is located in Kodambakkam village, under the Ashok Nagar SRO, and is classified as Residential Class IV Type - I.

How the guideline value of Kanniyappan Street has changed

The guideline value for Kanniyappan Street has seen several revisions over the years. The earliest recorded figure was Rs 800 per sq.ft in 2007. This was followed by a significant increase to Rs 3,750 per sq.ft in 2012, which remained unchanged until the next revision in 2023, where it was again Rs 3,750 per sq.ft. The most recent revision in 2024 set the guideline value at Rs 4,100 per sq.ft, marking a 9% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 413%. Notably, there are no figures available for the years 2002, 2003, and 2017 in the register for this street.

Guideline values in Kodambakkam

In Kodambakkam, there are 1,031 streets under the Ashok Nagar SRO with a 2024 guideline value ranging from Rs 2,200 to Rs 11,000 per sq.ft. The median guideline value for these streets is Rs 4,900 per sq.ft, placing the 2024 figure for Kanniyappan Street below this median.

• Kanni Street: Rs 4,100 per sq.ft (2024)
• Kannikapuram 4th Street: Rs 3,300 per sq.ft (2024)
• Kannikapuram 3rd Street: Rs 3,300 per sq.ft (2024)
• Kannikapuram 2nd Street: Rs 3,300 per sq.ft (2024)
• Kannikapuram 1st Street: Rs 3,300 per sq.ft (2024)
• Kannikapuram: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Kanniyappan Street

For a 1,000 sq.ft plot at the current guideline value, the total guideline value is Rs 41,00,000. The stamp duty at 7% would be Rs 2,87,000, and the registration fee at 2% would be Rs 82,000, bringing the total fees together to Rs 3,69,000. 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 Kanniyappan Street?

The Sub Registrar Office that covers Kanniyappan Street is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near Nolambur Eb Office. You can find your SRO for more information.

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

When buying or selling property in Kodambakkam, the guideline value is a critical factor used during the registration process. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

The guideline value helps ensure that the property is valued fairly for taxation purposes, and it is essential for both buyers and sellers to be aware of these values when engaging in property transactions.

Frequently asked questions

What is the current guideline value of Kanniyappan Street?

The current guideline value of Kanniyappan Street is Rs 4,100 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since 2007, the guideline value has increased from Rs 800 per sq.ft to Rs 4,100 per sq.ft in 2024, representing an overall increase of 413%.

What is the land classification for Kanniyappan Street?

Kanniyappan Street is classified as Residential Class IV Type - I according to the land classification standards.

Where can I find the Sub Registrar Office for Kanniyappan Street?

The Sub Registrar Office for Kanniyappan Street is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How is stamp duty calculated for properties in Kanniyappan Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 41,00,000, the stamp duty would be Rs 2,87,000 at a rate of 7%.