Guideline Value for Kunnathamman Naicken Street

Kunnathamman Naicken Street guideline value

The current guideline value of Kunnathamman Naicken Street is Rs 4,800 per sq.ft, effective from 1 July 2024. This street is located in Vepery village under the Periamet SRO and is classified as Residential Class II Type - II.

How the guideline value of Kunnathamman Naicken Street has changed

Over the years, the guideline value of Kunnathamman Naicken Street has seen significant changes. The 2007 revision recorded a value of Rs 800 per sq.ft, which increased dramatically to Rs 4,500 per sq.ft in 2012, representing a rise of 463%. However, this value then decreased to Rs 3,015 per sq.ft in 2017, marking a decline of 33%. In the subsequent revisions, the value rose sharply to Rs 4,500 per sq.ft in 2023, and finally to Rs 4,800 per sq.ft in 2024, reflecting a 7% increase.

From 2017 to 2023, there was a notable increase of 49%. Overall, from 2007 to 2024, the guideline value has increased by 500%. It is important to note that the register has no figures for Kunnathamman Naicken Street for the years 2002 and 2003.

Guideline values in Vepery

In Vepery village, there are 290 streets under the Periamet SRO that have a 2024 guideline value ranging from Rs 2,200 to Rs 22,000 per sq.ft. The median value is Rs 4,800 per sq.ft, which is the same as the guideline value for Kunnathamman Naicken Street.

• Kuppu Street: Rs 6,000 per sq.ft (2024)
• Kumarasamy Rajapuram: Rs 2,700 per sq.ft (2024)
• Kumarasamy Raja Ist Street: Rs 2,700 per sq.ft (2024)
• Kumarasamy RaJa 3rd Street: Rs 2,700 per sq.ft (2024)
• Kumarasamy RaJa 2nd Street: Rs 2,700 per sq.ft (2024)
• Kumarappa Street: Rs 7,700 per sq.ft (2024)

Stamp duty and registration fee for property in Kunnathamman Naicken Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,800 per sq.ft, the total guideline value would be Rs 48,00,000. The stamp duty at 7% would amount to Rs 3,36,000, and the registration fee at 2% would be Rs 96,000, bringing the total cost to Rs 4,32,000. It is important to note that 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 information.

Which Sub Registrar Office covers Kunnathamman Naicken Street?

The Kunnathamman Naicken Street is covered by the Periamet Sub Registrar Office located at 1103, Poonamallee High Road, Chennai-600 003. You can find your SRO for more details.

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

The guideline value is a crucial factor in property transactions in Vepery, as it determines the minimum value at which properties can be registered. When buying or selling property, the guideline value helps establish the stamp duty and registration fees applicable to the transaction.

It is essential for buyers and sellers to be aware of the current guideline value as it impacts the overall cost of the property transaction. Accurate knowledge of the guideline value can help in making informed decisions during the buying or selling process.

Frequently asked questions

What is the current guideline value of Kunnathamman Naicken Street?

The current guideline value of Kunnathamman Naicken Street is Rs 4,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 800 per sq.ft in 2007 to Rs 4,800 per sq.ft in 2024, reflecting an overall increase of 500% over this period.

What is the land classification for Kunnathamman Naicken Street?

Kunnathamman Naicken Street is classified as Residential Class II Type - II, which indicates its suitability for residential purposes.

Where can I find the Sub Registrar Office for Kunnathamman Naicken Street?

The Sub Registrar Office covering Kunnathamman Naicken Street is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003.

How is the stamp duty calculated for properties in Kunnathamman Naicken Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, at the current guideline value, the stamp duty for a 1,000 sq.ft plot would be Rs 3,36,000.