Guideline Value for Kannaiyaa Street Lane

Kannaiyaa Street Lane guideline value

The current guideline value of Kannaiyaa Street Lane is Rs 3,900 per sq.ft, effective from 1 July 2024. This street is located in Palavanthangal village, under the Alandur SRO, and is classified as Residential Class I Type - III.

How the guideline value of Kannaiyaa Street Lane has changed

The guideline value for Kannaiyaa Street Lane has seen several revisions over the years. Starting from the 2007 revision, the value was Rs 1,250 per sq.ft, which increased significantly to Rs 3,500 per sq.ft in 2012. However, it then dropped to Rs 2,345 per sq.ft in the 2017 revision. The 2023 revision marked a substantial increase to Rs 3,500 per sq.ft, followed by the current 2024 revision, which is Rs 3,900 per sq.ft. The changes between these revisions include a 180% increase from 2007 to 2012, a 33% decrease from 2012 to 2017, a 49% increase from 2017 to 2023, and an 11% increase from 2023 to 2024.

It is important to note that there are no figures available for the years 2002 and 2003 in the register for this street.

Guideline values in Palavanthangal

In Palavanthangal, there are 95 streets under the Alandur SRO that carry a guideline value for 2024, ranging from Rs 2,200 to Rs 11,000 per sq.ft. The median value for these streets is Rs 3,900 per sq.ft, which is the same as the guideline value for Kannaiyaa Street Lane.

• Kannan Colony: Rs 2,800 per sq.ft (2024)
• Kannan Colony 1st Street: Rs 2,800 per sq.ft (2024)
• Kannan Colony 2nd Street: Rs 2,800 per sq.ft (2024)
• Kannan Colony 3rd Street: Rs 2,800 per sq.ft (2024)
• Kannan Colony 4th Street: Rs 2,800 per sq.ft (2024)
• Kannan colony 5th Street: Rs 2,800 per sq.ft (2024)

Stamp duty and registration fee for property in Kannaiyaa Street Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 3,900 per sq.ft, the total guideline value amounts to Rs 39,00,000. The stamp duty at 7% would be Rs 2,73,000, and the registration fee at 2% would be Rs 78,000, bringing the total to Rs 3,51,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kannaiyaa Street Lane?

The Sub Registrar Office that covers Kannaiyaa Street Lane 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 details.

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

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

Frequently asked questions

What is the current guideline value for Kannaiyaa Street Lane?

The current guideline value for Kannaiyaa Street Lane is Rs 3,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,250 per sq.ft in 2007 to Rs 3,900 per sq.ft in 2024, reflecting an overall increase of 212% over the years.

What are the stamp duty rates for properties in Kannaiyaa Street Lane?

The stamp duty for properties in Kannaiyaa Street Lane is charged at 7% of the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Kannaiyaa Street Lane?

The Sub Registrar Office for Kannaiyaa Street Lane is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

What is the median guideline value in Palavanthangal?

The median guideline value in Palavanthangal for 2024 is Rs 3,900 per sq.ft, which is the same as the guideline value for Kannaiyaa Street Lane.