Guideline Value for Kanakamma Colony

Kanakamma Colony guideline value

The current guideline value of Kanakamma Colony is Rs 4,400 per sq.ft, effective from 1 July 2024. This area is located in Thalakanancherry village, under the Alandur SRO, and is classified as Residential Class I Type - II.

How the guideline value of Kanakamma Colony has changed

The guideline value of Kanakamma Colony has seen several revisions over the years. In 2007, the value was Rs 1,700 per sq.ft, which increased to Rs 4,000 per sq.ft in 2012. However, it then decreased to Rs 2,680 per sq.ft in 2017. The value rose significantly to Rs 4,000 per sq.ft in 2023, and the latest revision in 2024 has set the value at Rs 4,400 per sq.ft. The register has no figures for the years 2002 and 2003 for this street.

From 2017 to 2023, the guideline value increased by 49%. The change from 2012 to 2017 was a decrease of 33%, while from 2007 to 2012, there was a notable increase of 135%. Overall, from 2007 to 2024, the value has risen by 159%.

Guideline values in Thalakanancherry

In Thalakanancherry, there are a total of 318 streets under the Alandur SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 5,500 per sq.ft, with a median value of Rs 3,900 per sq.ft. The guideline value of Kanakamma Colony is above this median.

• Kambar Street: Rs 2,800 per sq.ft (2024)
• Kannagi Street: Rs 3,900 per sq.ft (2024)
• Kannan Nagar: Rs 4,400 per sq.ft (2024)
• Kannan Nagar 1st Main Road: Rs 4,400 per sq.ft (2024)
• Kannan Nagar 2nd Cross Street: Rs 4,400 per sq.ft (2024)
• Kannan Nagar 2nd Main Road: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Kanakamma Colony

For a 1,000 sq.ft plot at the current rate of Rs 4,400 per sq.ft, the guideline value amounts to Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, totaling Rs 3,96,000. It is important to note that the 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 Kanakamma Colony?

The Sub Registrar Office that covers Kanakamma 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 Thalakanancherry

The guideline value is a crucial factor during property registration in Thalakanancherry. It determines the minimum value on which stamp duty and registration fees are calculated, ensuring that the transaction is recorded accurately in the official registry.

When buying or selling property, the guideline value helps establish a baseline for the property's worth. This value is essential for both buyers and sellers to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of Kanakamma Colony?

The current guideline value of Kanakamma 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 1,700 per sq.ft in 2007 to Rs 4,400 per sq.ft in 2024, with various revisions in between.

What is the median guideline value in Thalakanancherry?

The median guideline value in Thalakanancherry is Rs 3,900 per sq.ft, with Kanakamma Colony's value being above this median.

What are the stamp duty and registration fees for a property in Kanakamma 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 office handles property registrations in Kanakamma Colony?

The Alandur Sub Registrar Office handles property registrations for Kanakamma Colony, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.