Guideline Value for KAKANJI STREET

Kakanji Street guideline value

The current guideline value of Kakanji Street, located in Chitthalapakkam village under the Selaiyur SRO, is Rs 1,950 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class II Type - II land classification.

How the guideline value of Kakanji Street has changed

The guideline value for Kakanji Street has undergone several revisions over the years. The 2012 revision set the value at Rs 1,500 per sq.ft, which was a decrease of 33% from the 2017 revision of Rs 1,005 per sq.ft. The 2023 revision increased the value to Rs 1,800 per sq.ft, followed by a further increase of 8% to the current 2024 value of Rs 1,950 per sq.ft.

There are no figures available for the years 2002, 2003, and 2007 in the register for this street. Overall, from 2012 to 2024, the guideline value has increased by 30%.

Guideline values in Chitthalapakkam

In Chitthalapakkam, there are 107 streets under the Selaiyur SRO that have a 2024 guideline value, ranging from Rs 1,300 to Rs 5,000 per sq.ft. The median value for these streets is Rs 2,900 per sq.ft, making Kakanji Street's 2024 figure below that median.

• Kalaingar Street: Rs 1,950 per sq.ft (2024)
• Jothi Mangala Nagar Extension: Rs 2,100 per sq.ft (2024)
• Jothi Mangala Nagar: Rs 2,100 per sq.ft (2024)
• Kamaraj Avenue: Rs 2,700 per sq.ft (2024)
• Kamaraj Nagar: Rs 2,400 per sq.ft (2024)
• Kamaraj Street: Rs 1,950 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 1,950 per sq.ft, the total guideline value would be Rs 19,50,000. The stamp duty at 7% would amount to Rs 1,36,500, and the registration fee at 2% would be Rs 39,000, totaling Rs 1,75,500. It is important to note that duty is charged on the higher of the guideline value and the sale price.

You can also use the stamp duty and registration fee calculator for more accurate calculations.

Which Sub Registrar Office covers Kakanji Street?

Kakanji Street is covered by the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor in property transactions in Chitthalapakkam. It is used to determine the stamp duty and registration fees payable during the registration process. Buyers and sellers must be aware of the current guideline value to ensure compliance with local regulations.

When a property is sold, the guideline value serves as a benchmark for taxation purposes. It is essential for both parties to understand the implications of this value on the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Kakanji Street?

The current guideline value of Kakanji Street is Rs 1,950 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,950 per sq.ft in 2024, reflecting an overall increase of 30% over this period.

What is the land classification for Kakanji Street?

Kakanji Street falls under the Residential Class II Type - II land classification, which is relevant for property transactions and assessments.

Where is the Selaiyur Sub Registrar Office located?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.

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, a 1,000 sq.ft property at the current guideline value would incur a total of Rs 1,75,500 in stamp duty and registration fees.