Guideline Value for Barani Colony - Kannammal Street

Barani Colony - Kannammal Street guideline value

The current guideline value for Barani Colony - Kannammal Street is Rs 6,600 per sq.ft, effective from 1 July 2024. This street is located in Saligramam village under the Virugambakkam SRO, classified as Residential Special Type - II.

How the guideline value of Barani Colony - Kannammal Street has changed

The guideline value for Barani Colony - Kannammal Street has undergone several revisions over the years. In 2007, the value was Rs 2,100 per sq.ft, which increased significantly to Rs 6,000 per sq.ft in 2012. However, from 2012 to 2017, the value dropped to Rs 4,020 per sq.ft. The 2023 revision saw a substantial increase to Rs 6,000 per sq.ft, followed by the current figure of Rs 6,600 per sq.ft effective from 2024, marking a 10% increase from the previous year.

Between the revisions, the guideline value increased by 49% from 2017 to 2023, and overall, there has been a 214% increase from 2007 to 2024. The revisions for the years 2002 and 2003 have no figures listed for this street.

Guideline values in Saligramam

In Saligramam, there are 333 streets under the Virugambakkam SRO, with guideline values ranging from Rs 2,750 to Rs 13,200 per sq.ft. The median guideline value in the area is Rs 4,400 per sq.ft, making the 2024 figure for Barani Colony - Kannammal Street above this median.

• Barani Colony - Arcot Road: Rs 6,600 per sq.ft (2024)
• Barani Colony - Surya street: Rs 6,600 per sq.ft (2024)
• Barani Colony - Thiivakar Street: Rs 6,600 per sq.ft (2024)
• Banumathi Ramakrishna Street: Rs 6,600 per sq.ft (2024)
• Bangaru Street: Rs 6,600 per sq.ft (2024)
• Baskar Colony: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Barani Colony - Kannammal Street

For a 1,000 sq.ft plot at the current guideline value of Rs 6,600 per sq.ft, the total guideline value amounts to Rs 66,00,000. The stamp duty is charged at 7%, resulting in Rs 4,62,000, while the registration fee at 2% amounts to Rs 1,32,000. Together, the total cost for stamp duty and registration fee would be Rs 5,94,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Barani Colony - Kannammal Street?

The Sub Registrar Office that covers Barani Colony - Kannammal 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 Saligramam

The guideline value is a crucial factor when registering property transactions in Saligramam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid at the time of registration, ensuring that the government receives appropriate revenue from property transactions.

When buying or selling property, the guideline value helps to establish a fair price for the transaction, as it reflects the current market conditions and property values in the area. It is essential for buyers and sellers to understand this value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value for Barani Colony - Kannammal Street?

The current guideline value for Barani Colony - Kannammal Street is Rs 6,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 2,100 per sq.ft in 2007 to Rs 6,600 per sq.ft in 2024, representing a total increase of 214% over the years.

What is the stamp duty rate for property in Barani Colony - Kannammal Street?

The stamp duty rate for property transactions in Barani Colony - Kannammal Street is 7% of the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Barani Colony - Kannammal Street located?

The Virugambakkam Sub Registrar Office is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

What is the median guideline value for streets in Saligramam?

The median guideline value for streets in Saligramam is Rs 4,400 per sq.ft, with Barani Colony - Kannammal Street's 2024 figure being above this median.