Guideline Value for Kanagammal Colony

Kanagammal Colony guideline value

The current guideline value of Kanagammal Colony is Rs 4,400 per sq.ft, effective from 1 July 2024. This area is located in Nanganallur village, under the Alandur Sub Registrar Office (SRO). The land classification for this street is Residential Class I Type - I.

How the guideline value of Kanagammal Colony has changed

The guideline value for Kanagammal Colony has seen significant changes over the years. In 2002, the guideline value was Rs 329 per sq.ft, which increased to Rs 374 per sq.ft in 2003. The value then rose to Rs 1,200 per sq.ft in 2007, marking a substantial increase of 221%. Following that, the value reached Rs 4,000 per sq.ft in 2012, a 233% increase from the previous revision. However, it decreased to Rs 2,680 per sq.ft in 2017, reflecting a decline of 33%.

From 2017 to 2023, the value increased by 49%, bringing it to Rs 4,000 per sq.ft. The most recent revision in 2024 saw a further increase of 10%, resulting in the current guideline value of Rs 4,400 per sq.ft. There are no figures available for revisions in years not listed.

Guideline values in Nanganallur

Nanganallur has 155 streets under the Alandur SRO that carry a 2024 guideline value ranging from Rs 2,800 to Rs 6,600 per sq.ft, with a median value of Rs 3,900 per sq.ft. The guideline value of Kanagammal Colony is above this median.

• Kanagammal Street: Rs 3,300 per sq.ft (2024)
• Kannaiya Street: Rs 3,300 per sq.ft (2024)
• Kadhar Thottam: Rs 3,300 per sq.ft (2024)
• Joseph Street First Street: Rs 4,400 per sq.ft (2024)
• Joseph 2nd Street: Rs 4,400 per sq.ft (2024)
• Joseph 1st Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Kanagammal Colony

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value would be Rs 44,00,000. The stamp duty at 7% would amount to Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, resulting in a total of Rs 3,96,000. 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 details.

Which Sub Registrar Office covers Kanagammal Colony?

The Sub Registrar Office that covers Kanagammal Colony is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Nanganallur. It serves as a benchmark for determining the stamp duty and registration fees payable during the sale or purchase of property. Buyers and sellers must be aware of the guideline value to ensure compliance with legal requirements during registration.

When a property is registered, the guideline value is used to calculate the applicable fees. This ensures that the transaction is documented accurately and that the necessary taxes are paid based on the established guideline value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value of Kanagammal Colony?

The current guideline value of Kanagammal Colony is Rs 4,400 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 329 per sq.ft in 2002 to Rs 4,400 per sq.ft in 2024, reflecting an overall increase of 1237% over the years.

What are the stamp duty and registration fees for properties in Kanagammal Colony?

For a property valued at Rs 44,00,000, the stamp duty would be Rs 3,08,000, and the registration fee would be Rs 88,000, totaling Rs 3,96,000.

Which Sub Registrar Office covers Kanagammal Colony?

The Alandur Sub Registrar Office covers Kanagammal Colony, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

What is the land classification for Kanagammal Colony?

The land classification for Kanagammal Colony is Residential Class I Type - I, indicating its designation for residential use.