Guideline Value for Kannan Avenue

Kannan Avenue guideline value

The current guideline value of Kannan Avenue in Perungalathur village is Rs 3,960 per sq.ft, effective from 1 July 2024. This street falls under the Padappai SRO and is classified as Commercial Class I Type - I.

How the guideline value of Kannan Avenue has changed

The guideline value for Kannan Avenue has seen several revisions over the years. In 2007, the value was Rs 250 per sq.ft, which rose significantly to Rs 3,600 per sq.ft in 2012. However, it then decreased to Rs 2,412 per sq.ft in 2017. The value increased again to Rs 3,600 per sq.ft in 2023, and currently stands at Rs 3,960 per sq.ft from the 2024 revision. There are no figures available for the years 2002 and 2003.

From 2007 to 2024, the overall increase in the guideline value is 1484%. The changes between the revisions include a 1340% increase from 2007 to 2012, a decrease of 33% from 2012 to 2017, a 49% increase from 2017 to 2023, and a 10% increase from 2023 to 2024.

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 value is Rs 2,310 per sq.ft, making Kannan Avenue's 2024 figure above that median.

• Kannan Avenue Stage-5: Rs 1,980 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

For a 1,000 sq.ft plot at the current guideline value of Rs 3,960 per sq.ft, the total guideline value would be Rs 39,60,000. The stamp duty at 7% would amount to Rs 2,77,200, and the registration fee at 2% would be Rs 79,200, bringing the total to Rs 3,56,400. 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 Kannan Avenue?

The Sub Registrar Office that covers Kannan Avenue 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 is the basis for determining the stamp duty and registration fees, which are mandatory during property transactions.

When a property is sold, the buyer must pay the stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Kannan Avenue?

The current guideline value of Kannan Avenue is Rs 3,960 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 250 per sq.ft in 2007 to Rs 3,960 per sq.ft in 2024, marking an overall increase of 1484% over the years.

What are the other streets with guideline values in Perungalathur?

Other streets in Perungalathur include Kannan Avenue Stage-5 at Rs 1,980 per sq.ft, Kannammal Street at Rs 3,740 per sq.ft, and several others, with values ranging from Rs 1,320 to Rs 5,500 per sq.ft.

What is the registration fee for property in Kannan Avenue?

The registration fee for a property in Kannan Avenue is 2% of the guideline value. For example, for a property valued at Rs 39,60,000, the registration fee would be Rs 79,200.

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

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