Guideline Value for Kannan Colony 4th Street

Kannan Colony 4th Street guideline value

The current guideline value of Kannan Colony 4th Street is Rs 2,800 per sq.ft, effective from 1 July 2024. This street is located in Palavanthangal village under the Alandur SRO and falls under the Residential Class II Type - II land classification.

How the guideline value of Kannan Colony 4th Street has changed

The guideline value for Kannan Colony 4th Street has seen several revisions over the years. In the 2007 revision, the value was Rs 750 per sq.ft, which increased significantly to Rs 2,500 per sq.ft in the 2012 revision, marking a 233% increase. However, in the 2017 revision, the value decreased to Rs 1,675 per sq.ft, reflecting a 33% drop. The value then rose to Rs 2,500 per sq.ft in the 2023 revision, and further increased to Rs 2,800 per sq.ft in the 2024 revision, representing a 12% rise.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 273%. It is important to note that the register has no figures for the years 2002 and 2003 for this street.

Guideline values in Palavanthangal

In Palavanthangal, there are 95 streets under the Alandur SRO that carry a 2024 guideline value, ranging from Rs 2,200 to Rs 11,000 per sq.ft, with a median value of Rs 3,900 per sq.ft. The guideline value for Kannan Colony 4th Street is below this median.

• Kannan Colony 3rd Street: Rs 2,800 per sq.ft (2024)
• Kannan Colony 5th Street: Rs 2,800 per sq.ft (2024)
• Kannan Colony 2nd Street: Rs 2,800 per sq.ft (2024)
• Kannan Colony 1st Street: Rs 2,800 per sq.ft (2024)
• Kannan Colony: Rs 2,800 per sq.ft (2024)
• Kannaiyaa Street Lane: Rs 3,900 per sq.ft (2024)

Stamp duty and registration fee for property in Kannan Colony 4th Street

For a 1,000 sq.ft plot at the current rate of Rs 2,800 per sq.ft, the guideline value amounts to Rs 28,00,000. The stamp duty at 7% would be Rs 1,96,000, and the registration fee at 2% would be Rs 56,000, totaling Rs 2,52,000. It is important to note that duty is charged on the higher of the guideline value or the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kannan Colony 4th Street?

The Sub Registrar Office that covers Kannan Colony 4th Street 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 information.

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

The guideline value is a critical factor in the registration process when buying or selling property in Palavanthangal. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives appropriate revenue from stamp duty and registration fees.

When a property is sold, the guideline value is used to calculate the applicable stamp duty and registration fees. Buyers should be aware that these fees are based on the higher of the guideline value or the actual sale price, which can affect the total costs involved in the transaction.

Frequently asked questions

What is the current guideline value of Kannan Colony 4th Street?

The current guideline value of Kannan Colony 4th Street is Rs 2,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 750 per sq.ft in 2007 to Rs 2,800 per sq.ft in 2024, marking an overall increase of 273% over the years.

What are the other streets in Palavanthangal with the same guideline value?

Other streets in Palavanthangal with the same guideline value of Rs 2,800 per sq.ft include Kannan Colony 1st, 2nd, 3rd, and 5th Streets, as well as Kannan Colony itself.

How is stamp duty calculated for properties in Kannan Colony 4th Street?

Stamp duty for properties in Kannan Colony 4th Street is calculated at 7% of the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Kannan Colony 4th Street?

The Sub Registrar Office for Kannan Colony 4th Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.