Guideline Value for Kannan Colony

Kannan Colony guideline value

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

How the guideline value of Kannan Colony has changed

Since the 2007 revision, the guideline value has seen significant changes. In 2007, the guideline value was Rs 750 per sq.ft, which increased to Rs 2,500 per sq.ft in 2012. However, it decreased to Rs 1,675 per sq.ft in 2017. The 2023 revision marked a rise to Rs 2,500 per sq.ft, followed by the current value of Rs 2,800 per sq.ft in 2024, reflecting a 12% increase from the previous year. The overall change from 2007 to 2024 is an increase of 273%.

The guideline value register does not have figures for the years 2002 and 2003 for this street. The changes between revisions show a 49% increase from 2017 to 2023, a decrease of 33% from 2012 to 2017, and a substantial increase of 233% from 2007 to 2012.

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 is below this median.

• Kannan Colony 1st Street: Rs 2,800 per sq.ft (2024)
• Kannan Colony 2nd Street: Rs 2,800 per sq.ft (2024)
• Kannan Colony 3rd Street: Rs 2,800 per sq.ft (2024)
• Kannan Colony 4th Street: Rs 2,800 per sq.ft (2024)
• Kannan Colony 5th Street: 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

For a 1,000 sq.ft plot at the current guideline value of Rs 2,800 per sq.ft, the total 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, making a total of Rs 2,52,000. Please note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Kannan Colony?

The Sub Registrar Office that covers Kannan Colony is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. To find your SRO, you can find your SRO.

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

The guideline value is a crucial factor during property registration in Palavanthangal. It determines the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value is used to calculate the applicable fees, which are essential for the legal transfer of property ownership. It is important for both buyers and sellers to be aware of the current guideline value to ensure compliance with registration requirements.

Frequently asked questions

What is the current guideline value of Kannan Colony?

The current guideline value of Kannan Colony 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 significantly from Rs 750 per sq.ft in 2007 to Rs 2,800 per sq.ft in 2024, marking an overall increase of 273%.

What is the land classification of Kannan Colony?

Kannan Colony falls under the Residential Class II Type - II land classification.

Where is the Alandur Sub Registrar Office located?

The Alandur Sub Registrar Office is located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

How is stamp duty calculated for properties in Kannan Colony?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current rate, the stamp duty would be Rs 1,96,000.