Guideline Value for Kanniga Colony 2nd Street

Kanniga Colony 2nd Street guideline value

The current guideline value of Kanniga Colony 2nd Street is Rs 3,900 per sq.ft. This street is located in Thalakanancherry village, under the Alandur SRO. The land classification for this area is Residential Class I Type - III.

How the guideline value of Kanniga Colony 2nd Street has changed

The guideline value for Kanniga Colony 2nd Street has undergone several revisions over the years. The 2012 revision set the value at Rs 3,500 per sq.ft, which was then decreased to Rs 2,345 per sq.ft in the 2017 revision. However, the value significantly increased to Rs 3,500 per sq.ft in the 2023 revision, and further rose to Rs 3,900 per sq.ft in the 2024 revision, marking an increase of 11% from the previous year.

From the 2017 revision to the 2023 revision, the value increased by 49%. Overall, comparing the 2012 revision to the 2024 revision, the guideline value has increased by 11%. It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for this street.

Guideline values in Thalakanancherry

In Thalakanancherry, 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 guideline value is Rs 3,900 per sq.ft, which is equal to the 2024 figure for Kanniga Colony 2nd Street.

• Kanniga Colony 1st Street: Rs 3,900 per sq.ft (2024)
• Kanniga Colony Main Road: Rs 3,900 per sq.ft (2024)
• Kanniga Colony: 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 2nd Street

For a 1,000 sq.ft plot at the current rate of Rs 3,900 per sq.ft, the guideline value would be Rs 39,00,000. The stamp duty at 7% would be Rs 2,73,000, and the registration fee at 2% would be Rs 78,000, bringing the total to Rs 3,51,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kanniga Colony 2nd Street?

The Sub Registrar Office that covers Kanniga Colony 2nd 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 details.

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

The guideline value is a crucial factor during the registration of property transactions in Thalakanancherry. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the official valuation of the property. This value is used to calculate the applicable stamp duty and registration fees, which are mandatory for legal transactions.

Frequently asked questions

What is the current guideline value of Kanniga Colony 2nd Street?

The current guideline value of Kanniga Colony 2nd 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, marking an increase of 11%. It was Rs 2,345 per sq.ft in 2017 and Rs 3,500 per sq.ft in 2012.

What is the land classification for Kanniga Colony 2nd Street?

The land classification for Kanniga Colony 2nd Street is Residential Class I Type - III.

Where can I find the Sub Registrar Office for this area?

The Sub Registrar Office for Kanniga Colony 2nd Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

How is the stamp duty calculated for properties in this area?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 39,00,000 would incur a stamp duty of Rs 2,73,000 at 7%.