Guideline Value for KAKANJI STREET

Kakanji Street guideline value

The current guideline value of Kakanji Street in Thelliyaragaram village is Rs 1,320 per sq.ft, effective from 1 July 2024. This street falls under the Chennai South Joint I SRO and is classified as Residential Class II Type - I.

How the guideline value of Kakanji Street has changed

The guideline value for Kakanji Street has undergone several revisions over the years. The most recent revision in 2024 set the value at Rs 1,320 per sq.ft, which is a 10% increase from the 2023 revision of Rs 1,200 per sq.ft. Prior to that, the 2017 revision was Rs 804 per sq.ft, reflecting a significant increase of 49% to the 2023 figure. The 2012 revision also had a guideline value of Rs 1,200 per sq.ft, marking a decrease of 33% from the 2017 figure.

It is important to note that the register has no figure for Kakanji Street in the years 2002, 2003, and 2007. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%.

Guideline values in Thelliyaragaram

In Thelliyaragaram, there are 16 streets under the Chennai South Joint I SRO that have a 2024 guideline value ranging from Rs 770 to Rs 3,300 per sq.ft. The median value for these streets is Rs 1,210 per sq.ft, placing Kakanji Street's 2024 figure above this median.

• G.S.R.Garden: Rs 2,310 per sq.ft (2024)
• Gangaiamman Koil Street: Rs 1,100 per sq.ft (2024)
• Gangaiamman Koil Cross Street: Rs 1,100 per sq.ft (2024)
• Das Avenue: Rs 1,650 per sq.ft (2024)
• Mayana Salai: Rs 1,100 per sq.ft (2024)
• Amman Koil Street Colony: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Kakanji Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft, the total guideline value would be Rs 13,20,000. The stamp duty at 7% would be Rs 92,400, and the registration fee at 2% would be Rs 26,400, bringing the total cost for these fees to Rs 1,18,800. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Kakanji Street?

The Kakanji Street falls under the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Thelliyaragaram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately in the official records.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees, which are essential components of the transaction costs. Buyers and sellers must be aware of these values to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of Kakanji Street?

The current guideline value of Kakanji Street is Rs 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen various changes, with the most recent increase being 10% from Rs 1,200 per sq.ft in 2023 to Rs 1,320 per sq.ft in 2024. Overall, from 2012 to 2024, the value increased by 10%.

What is the land classification of Kakanji Street?

Kakanji Street is classified as Residential Class II Type - I according to the Chennai South Joint I SRO guidelines.

Where can I find the Sub Registrar Office for Kakanji Street?

The Sub Registrar Office covering Kakanji Street is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.

How is stamp duty calculated for properties on Kakanji Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 13,20,000, the stamp duty would be Rs 92,400 at a rate of 7%.