Guideline Value for Kannabiran Colony

Kannabiran Colony guideline value

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

How the guideline value of Kannabiran Colony has changed

The guideline value for Kannabiran Colony has seen several revisions over the years. In 2007, the value was set at Rs 963 per sq.ft, which rose significantly to Rs 6,000 per sq.ft in 2012. However, it dropped to Rs 4,020 per sq.ft in 2017 before increasing to Rs 6,000 per sq.ft in 2023. The most recent revision in 2024 has seen the guideline value increase to Rs 6,600 per sq.ft.

Notably, there are no figures available for the years 2002 and 2003 for this street. The changes between the revisions reflect a +585% increase from 2007 to 2024, with a +10% increase from 2023 to 2024, and a +49% increase from 2017 to 2023.

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 value for the area is Rs 4,400 per sq.ft, making the current guideline value of Kannabiran Colony above this median.

• Kannabiran Street: Rs 6,600 per sq.ft (2024)
• Kandan Street: Rs 3,300 per sq.ft (2024)
• Kannammal Street: Rs 6,600 per sq.ft (2024)
• Kambar Street: Rs 4,400 per sq.ft (2024)
• Kanniamman Street: Rs 6,600 per sq.ft (2024)
• Kannikapuram: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Kannabiran Colony

For a 1,000 sq.ft plot at the current guideline value of Rs 6,600 per sq.ft, the total guideline value would be Rs 66,00,000. The stamp duty at 7% would amount to Rs 4,62,000, and the registration fee at 2% would be Rs 1,32,000, bringing the total cost for these fees to Rs 5,94,000. 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 details.

Which Sub Registrar Office covers Kannabiran Colony?

The Sub Registrar Office that covers Kannabiran Colony 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 in property transactions in Saligramam, as it determines the minimum value at which a property can be registered. This value is used by the registration department to calculate stamp duty and registration fees, ensuring that all transactions are conducted fairly and transparently.

When buying or selling property, it is essential to be aware of the current guideline value, as it can affect the overall costs involved in the transaction. Buyers should ensure that they are informed about the guideline value to avoid any unexpected expenses during the registration process.

Frequently asked questions

What is the current guideline value of Kannabiran Colony?

The current guideline value of Kannabiran Colony 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 changed from Rs 963 per sq.ft in 2007 to Rs 6,600 per sq.ft in 2024, reflecting a significant increase over the years.

What is the land classification of Kannabiran Colony?

Kannabiran Colony is classified as Residential Special Type - II, indicating its intended use for residential purposes.

What are the stamp duty rates for property transactions?

The stamp duty for property transactions in Kannabiran Colony is charged at 7% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Kannabiran Colony located?

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