Guideline Value for Kannan Avenue

Kannan Avenue guideline value

The current guideline value of Kannan Avenue in Irumpuliyur village is Rs 2,530 per sq.ft, effective from 1 July 2024. This area falls under the Tambaram Joint 1 SRO and is classified as Residential Special 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 2012, the value was set at Rs 2,300 per sq.ft. This figure decreased to Rs 1,541 per sq.ft in 2017, representing a decline of 33%. However, from 2017 to 2023, the value increased significantly to Rs 2,300 per sq.ft, marking a rise of 49%. The most recent revision in 2024 has further increased the guideline value to Rs 2,530 per sq.ft, which is a 10% increase from the previous year.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 for Kannan Avenue. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Irumpuliyur

In Irumpuliyur, there are 218 streets under the Tambaram Joint 1 SRO with a 2024 guideline value ranging from Rs 880 to Rs 6,600 per sq.ft. The median guideline value for these streets is Rs 2,200 per sq.ft, placing Kannan Avenue's 2024 figure above this median.

• Kannan St: Rs 2,530 per sq.ft (2024)
• Karikalan Street: Rs 2,530 per sq.ft (2024)
• Kaveri Street: Rs 2,200 per sq.ft (2024)
• Kalyan Nagar Main Road: Rs 1,100 per sq.ft (2024)
• Kalyan Nagar 4-th St: Rs 1,100 per sq.ft (2024)
• Kalyan Nagar 3-rd St: 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 2,530 per sq.ft, the total guideline value would be Rs 25,30,000. The stamp duty at 7% would amount to Rs 1,77,100, and the registration fee at 2% would be Rs 50,600, bringing the total cost for these fees to Rs 2,27,700. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can also 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 Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor when registering property transactions in Irumpuliyur. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the registration fees and stamp duties are calculated accurately based on this value.

When buying or selling property, the guideline value helps in establishing a fair price for both parties involved. It is essential to be aware of the current guideline value to ensure compliance with local regulations and to avoid any potential disputes during the registration process.

Frequently asked questions

What is the current guideline value of Kannan Avenue?

The current guideline value of Kannan Avenue is Rs 2,530 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen changes from Rs 2,300 in 2012 to Rs 1,541 in 2017, then back to Rs 2,300 in 2023, and finally to Rs 2,530 in 2024.

What is the land classification for Kannan Avenue?

Kannan Avenue is classified as Residential Special Type - I, which is important for determining the permissible uses of the land.

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

The Sub Registrar Office for Kannan Avenue is located at No.26, Mes Road, East Tambaram, Chennai-600059, under the Chengalpattu registration zone.

How is the stamp duty calculated for property transactions?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. Additionally, there is a registration fee of 2% on the guideline value.