Guideline Value for Kannan Nagar 2nd Cross Street

Kannan Nagar 2nd Cross Street guideline value

The current guideline value of Kannan Nagar 2nd Cross Street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Thalakanancherry village under the Alandur SRO, classified as Residential Class I Type - II.

How the guideline value of Kannan Nagar 2nd Cross Street has changed

The guideline value for Kannan Nagar 2nd Cross Street has seen several revisions over the years. The 2007 revision set the value at Rs 1,700 per sq.ft, which increased to Rs 4,000 per sq.ft in 2012. However, this figure decreased by 33% to Rs 2,680 per sq.ft in 2017. The value then rose significantly by 49% to Rs 4,000 per sq.ft in 2023, and currently stands at Rs 4,400 per sq.ft in the 2024 revision, reflecting a 10% increase.

It is important to note that the register has no figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 159%.

Guideline values in Thalakanancherry

In Thalakanancherry, there are 318 streets under the Alandur SRO, with guideline values ranging from Rs 2,200 to Rs 5,500 per sq.ft. The median guideline value is Rs 3,900 per sq.ft, positioning Kannan Nagar 2nd Cross Street above this median.

• Kannan Nagar 2nd Main Road: Rs 4,400 per sq.ft (2024)
• Kannan Nagar 1st Main Road: Rs 4,400 per sq.ft (2024)
• Kannan Nagar 3rd Cross Street: Rs 4,400 per sq.ft (2024)
• Kannan Nagar: Rs 4,400 per sq.ft (2024)
• Kannan Nagar 3rd Main Road: Rs 4,400 per sq.ft (2024)
• Kannan Nagar 4th Cross Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Kannan Nagar 2nd Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value amounts to Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, leading to a total of Rs 3,96,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Kannan Nagar 2nd Cross Street?

The Kannan Nagar 2nd Cross Street falls under 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 Thalakanancherry

The guideline value is a crucial factor when registering property transactions in Thalakanancherry. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these costs are aligned with the official valuation of the property.

When a buyer or seller engages in a transaction, the guideline value helps determine the official price for registration, which is necessary for legal documentation and property transfer processes.

Frequently asked questions

What is the current guideline value of Kannan Nagar 2nd Cross Street?

The current guideline value of Kannan Nagar 2nd Cross Street is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,700 per sq.ft in 2007 to Rs 4,400 per sq.ft in 2024, showing an overall increase of 159% over this period.

What is the stamp duty for a property in Kannan Nagar 2nd Cross Street?

The stamp duty for a property in Kannan Nagar 2nd Cross Street is calculated at 7% of the guideline value. For a 1,000 sq.ft plot, this amounts to Rs 3,08,000.

Which office handles registrations for Kannan Nagar 2nd Cross Street?

The Alandur Sub Registrar Office handles registrations for Kannan Nagar 2nd Cross Street, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

What is the median guideline value for streets in Thalakanancherry?

The median guideline value for streets in Thalakanancherry is Rs 3,900 per sq.ft, with Kannan Nagar 2nd Cross Street's value being above this median.