Guideline Value for Kaanaan Avenue

Kaanaan Avenue guideline value

The current guideline value of Kaanaan Avenue in Perungalathur village, under the Padappai SRO, is Rs 3,960 per sq.ft, effective from 1 July 2024. This street is classified as Commercial Class I Type - I.

How the guideline value of Kaanaan Avenue has changed

The guideline value for Kaanaan Avenue has undergone several revisions over the years. In the 2012 revision, the value was set at Rs 3,600 per sq.ft. This was followed by a decrease to Rs 2,412 per sq.ft in the 2017 revision, marking a decline of 33%. However, from 2017 to 2023, the value increased significantly to Rs 3,600 per sq.ft, reflecting a rise of 49%. The latest 2024 revision has further increased the value to Rs 3,960 per sq.ft, which is a 10% increase from the previous year.

It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for Kaanaan Avenue. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%.

Guideline values in Perungalathur

In Perungalathur, there are 411 streets under the Padappai SRO that carry a 2024 guideline value ranging from Rs 1,320 to Rs 5,500 per sq.ft, with a median value of Rs 2,310 per sq.ft. The guideline value of Kaanaan Avenue is above this median.

• Kagapujanthkar Nagar: Rs 2,640 per sq.ft (2024)
• Kailash Avenue: Rs 2,300 per sq.ft (2024)
• Kailash Avenue and Extn: Rs 2,310 per sq.ft (2024)
• Kaja Hayath Nagar: Rs 2,970 per sq.ft (2024)
• Kakkanji Street: Rs 1,980 per sq.ft (2024)
• J.K Avenue: Rs 3,960 per sq.ft (2024)

Stamp duty and registration fee for property in Kaanaan Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 3,960 per sq.ft, the total guideline value would be Rs 39,60,000. The stamp duty at 7% would amount to Rs 2,77,200, and the registration fee at 2% would be Rs 79,200, bringing the total costs together to Rs 3,56,400. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Kaanaan Avenue?

The Sub Registrar Office that covers Kaanaan Avenue is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for further assistance.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Perungalathur. It serves as a reference point for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is registered, the guideline value is considered to ensure that the transaction is documented at a value that reflects the current market conditions. This helps maintain transparency and fairness in property dealings.

Frequently asked questions

What is the current guideline value of Kaanaan Avenue?

The current guideline value of Kaanaan Avenue is Rs 3,960 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,600 per sq.ft in 2012 to Rs 2,412 per sq.ft in 2017, then back to Rs 3,600 per sq.ft in 2023, and finally to Rs 3,960 per sq.ft in 2024.

What are the other streets in Perungalathur with their guideline values?

Other streets in Perungalathur include Kagapujanthkar Nagar at Rs 2,640 per sq.ft, Kailash Avenue at Rs 2,300 per sq.ft, and J.K Avenue at Rs 3,960 per sq.ft, among others.

What is the stamp duty for property in Kaanaan Avenue?

The stamp duty for property in Kaanaan Avenue is calculated at 7% of the guideline value. For a 1,000 sq.ft plot, this amounts to Rs 2,77,200.

Where can I find the Sub Registrar Office for Kaanaan Avenue?

The Sub Registrar Office for Kaanaan Avenue is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.