Guideline Value for Kannan Avenue

Kannan Avenue guideline value

The current guideline value of Kannan Avenue is Rs 1,100 per sq.ft. This street is located in Erandankattalai village, under the Pammal SRO, and is classified as Residential Class I Type - I.

How the guideline value of Kannan Avenue has changed

The guideline value for Kannan Avenue has undergone several revisions over the years. The earliest recorded figure is from the 2017 revision, which was Rs 670 per sq.ft. This value increased significantly to Rs 1,000 per sq.ft in the 2023 revision, marking a 49% increase. The most recent revision in 2024 set the guideline value at Rs 1,100 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2012 for Kannan Avenue.

Guideline values in Erandankattalai

In Erandankattalai, there are 60 streets under the Pammal SRO that carry a 2024 guideline value, ranging from Rs 770 to Rs 4,270 per sq.ft. The median value for these streets is Rs 1,100 per sq.ft, which is equal to the guideline value of Kannan Avenue.

• Kodhai Avenue: Rs 1,100 per sq.ft (2024)
• Kalaignar Street: Rs 1,100 per sq.ft (2024)
• Lakshmi Nagar: Rs 1,100 per sq.ft (2024)
• J.A.Avenue: Rs 1,975 per sq.ft (2024)
• Irular Street: Rs 770 per sq.ft (2024)
• Irandankattalai Reddi Street: Rs 1,100 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 1,100 per sq.ft, the total guideline value would be Rs 11,00,000. The stamp duty at 7% would amount to Rs 77,000, while the registration fee at 2% would be Rs 22,000, bringing the total fees together to Rs 99,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For further calculations, refer to the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kannan Avenue?

Kannan Avenue is covered by the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Erandankattalai. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid, ensuring that the transaction is recorded accurately in the land registry.

When buying or selling property, the guideline value helps in assessing the legal and financial obligations associated with the transaction. It is essential for both buyers and sellers to be aware of the current guideline values to ensure compliance with local regulations.

Frequently asked questions

What is the current guideline value of Kannan Avenue?

The current guideline value of Kannan Avenue is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value of Kannan Avenue has increased from Rs 670 per sq.ft in 2017 to Rs 1,100 per sq.ft in 2024, marking an overall increase of 64% during this period.

What is the stamp duty rate for properties in Kannan Avenue?

The stamp duty rate for properties in Kannan Avenue is 7% of the guideline value or sale price, whichever is higher.

Where is the Pammal Sub Registrar Office located?

The Pammal Sub Registrar Office is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone.

How many streets in Erandankattalai have a 2024 guideline value?

There are 60 streets in Erandankattalai that carry a 2024 guideline value, ranging from Rs 770 to Rs 4,270 per sq.ft.