Guideline Value for Kanniga Colony 1st Street

Kanniga Colony 1st Street guideline value

The current guideline value of Kanniga Colony 1st Street is Rs 3,900 per sq.ft. This street is located in Thalakanancherry village under the Alandur SRO, classified as Residential Class I Type - III.

How the guideline value of Kanniga Colony 1st Street has changed

The guideline value for Kanniga Colony 1st Street has seen several revisions over the years. The most recent revision in 2024 set the value at Rs 3,900 per sq.ft, up from Rs 3,500 per sq.ft in 2023, reflecting an increase of 11%. Prior to that, the 2017 revision listed the value at Rs 2,345 per sq.ft, which marked a substantial increase of 49% from the 2023 figure. The 2012 revision also listed a value of Rs 3,500 per sq.ft, indicating a decrease of 33% from the 2017 revision. Overall, from 2012 to 2024, the guideline value has increased by 11%.

It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Thalakanancherry

In Thalakanancherry village, there are 318 streets under the Alandur SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 5,500 per sq.ft. The median value across these streets is Rs 3,900 per sq.ft, which is equal to the guideline value of Kanniga Colony 1st Street.

• Kanniga Colony: Rs 3,900 per sq.ft (2024)
• Kanniga Colony 2nd Street: Rs 3,900 per sq.ft (2024)
• Kanniga Colony Main Road: Rs 3,900 per sq.ft (2024)
• Kanni Tamizh Street: Rs 2,800 per sq.ft (2024)
• Kannan Street: Rs 4,400 per sq.ft (2024)
• Kannan Nagar Koot Road: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Kanniga Colony 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,900 per sq.ft, the total guideline value would be Rs 39,00,000. The stamp duty at 7% would amount to Rs 2,73,000, and the registration fee at 2% would be Rs 78,000, totaling Rs 3,51,000. 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 Kanniga Colony 1st Street?

The Sub Registrar Office that covers Kanniga Colony 1st Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. For more information, you can find your SRO.

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

The guideline value is a crucial factor in property transactions in Thalakanancherry, as it determines the minimum value on which stamp duty and registration fees are calculated. Buyers and sellers must be aware of the current guideline value to ensure compliance with local regulations during the registration process.

When a property is sold, the guideline value serves as a benchmark for assessing the transaction value. This ensures that the government receives the appropriate taxes based on the property's value, thereby maintaining transparency in real estate transactions.

Frequently asked questions

What is the current guideline value of Kanniga Colony 1st Street?

The current guideline value of Kanniga Colony 1st Street is Rs 3,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,500 per sq.ft in 2023 to Rs 3,900 per sq.ft in 2024, an increase of 11%. From 2017 to 2023, it rose by 49%, while it decreased from Rs 3,500 per sq.ft in 2012 to Rs 2,345 per sq.ft in 2017.

What is the land classification of Kanniga Colony 1st Street?

Kanniga Colony 1st Street is classified as Residential Class I Type - III, indicating its suitability for residential development.

What are the stamp duty and registration fees for property transactions?

The stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, while the registration fee is 2%. For example, for a plot valued at Rs 39,00,000, the total fees would amount to Rs 3,51,000.

Which office handles registrations for Kanniga Colony 1st Street?

The Alandur Sub Registrar Office handles registrations for Kanniga Colony 1st Street, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.