Guideline Value for Kannan colony 5th Street

Kannan colony 5th Street guideline value

The current guideline value of Kannan colony 5th 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 it falls under the Residential Class II Type - II land classification.

How the guideline value of Kannan colony 5th Street has changed

The guideline value for Kannan colony 5th Street has seen several revisions over the years. The earliest recorded figure is from 2007, where the value was Rs 750 per sq.ft. This increased significantly to Rs 2,500 per sq.ft in 2012, marking a 233% rise. However, in 2017, the value dropped to Rs 1,675 per sq.ft, a decrease of 33%. The value then rose again to Rs 2,500 per sq.ft in 2023, followed by the latest revision in 2024, which set the value at Rs 2,800 per sq.ft, reflecting a 12% increase from the previous year.

From 2017 to 2023, the value increased by 49%. Overall, from 2007 to 2024, the guideline value has risen 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. The median value for the area is Rs 3,900 per sq.ft, placing Kannan colony 5th Street's 2024 figure below this median.

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

For a 1,000 sq.ft plot at the current guideline value of Rs 2,800 per sq.ft, the total guideline value would be Rs 28,00,000. The stamp duty at 7% would amount to Rs 1,96,000, while the registration fee at 2% would be Rs 56,000, bringing the total fees to Rs 2,52,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kannan colony 5th Street?

The Kannan colony 5th Street is covered by 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 plays a crucial role in property transactions in Palavanthangal. It is used to determine the stamp duty and registration fees applicable during the sale or purchase of property. Buyers and sellers must consider this value to ensure compliance with local regulations.

When registering a property, the guideline value is either the basis for calculating the stamp duty and registration fees or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Kannan colony 5th Street?

The current guideline value of Kannan colony 5th 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, showing an overall increase of 273% over these years.

What are the stamp duty and registration fees for properties in Kannan colony 5th Street?

For a 1,000 sq.ft property at the current guideline value, the total fees would be Rs 2,52,000, which includes Rs 1,96,000 for stamp duty and Rs 56,000 for registration fees.

Which office handles registrations for Kannan colony 5th Street?

The Alandur Sub Registrar Office handles registrations for Kannan colony 5th Street, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

How is the guideline value determined in Palavanthangal?

The guideline value in Palavanthangal is determined based on various factors, including land classification and revisions over the years. It is used to calculate the stamp duty and registration fees during property transactions.