Guideline Value for Kannan Avenue Stage-5

Kannan Avenue Stage-5 guideline value

The current guideline value of Kannan Avenue Stage-5 is Rs 1,980 per sq.ft, effective from 1 July 2024. This street is located in Perungalathur village and falls under the Padappai SRO, with a land classification of Residential Class III Type - I.

How the guideline value of Kannan Avenue Stage-5 has changed

The guideline value for Kannan Avenue Stage-5 has seen several revisions over the years. The earliest recorded figure is from 2007, where it was Rs 250 per sq.ft. This value increased significantly to Rs 1,800 per sq.ft in 2012, marking a rise of 620%. However, it then decreased to Rs 1,206 per sq.ft in 2017, a drop of 33%. The value further increased to Rs 1,800 per sq.ft in 2023, and currently stands at Rs 1,980 per sq.ft in the 2024 revision, reflecting a 10% increase from the previous year. The register has no figures for the years 2002 and 2003 for this street.

Overall, from 2007 to 2024, the guideline value has increased by 692%. The changes between the revisions indicate fluctuations, with the most significant rise occurring between 2007 and 2012, followed by a steady increase leading to the current value.

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. The median guideline value for these streets is Rs 2,310 per sq.ft, making Kannan Avenue Stage-5's current value of Rs 1,980 per sq.ft below the median.

• Kannan Avenue: Rs 3,960 per sq.ft (2024)
• Kannammal Street: Rs 3,740 per sq.ft (2024)
• Kannaki Street and Nagar: Rs 2,310 per sq.ft (2024)
• Kannaki Street: Rs 2,310 per sq.ft (2024)
• Kannadasan Street: Rs 2,310 per sq.ft (2024)
• Kambar Street: Rs 1,980 per sq.ft (2024)

Stamp duty and registration fee for property in Kannan Avenue Stage-5

For a 1,000 sq.ft plot at the current guideline value of Rs 1,980 per sq.ft, the total guideline value would be Rs 19,80,000. The stamp duty at 7% would amount to Rs 1,38,600, and the registration fee at 2% would be Rs 39,600, bringing the total fees to Rs 1,78,200. Duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Kannan Avenue Stage-5?

The Sub Registrar Office covering Kannan Avenue Stage-5 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 more information.

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 benchmark for determining the stamp duty and registration fees, ensuring that the transaction is recorded accurately in accordance with government regulations.

When a property is sold, the buyer must pay the applicable stamp duty based on either the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions, reflecting the value of the property being transferred.

Frequently asked questions

What is the current guideline value of Kannan Avenue Stage-5?

The current guideline value of Kannan Avenue Stage-5 is Rs 1,980 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 250 per sq.ft in 2007 to Rs 1,980 per sq.ft in 2024, showing an overall increase of 692% over the years.

What is the guideline value per sq.ft for other streets in Perungalathur?

Other streets in Perungalathur have varying guideline values, ranging from Rs 1,980 to Rs 3,960 per sq.ft in 2024, with a median value of Rs 2,310 per sq.ft.

What fees are associated with buying property in Kannan Avenue Stage-5?

When buying property in Kannan Avenue Stage-5, buyers must pay a stamp duty of 7% and a registration fee of 2% based on the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Kannan Avenue Stage-5?

The Sub Registrar Office for Kannan Avenue Stage-5 is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.