Guideline Value for KAKKAI NAGAR (NORTH OF M.T.H ROAD)

Kakkai Nagar (North Of M.T.H Road) guideline value

The current guideline value for Kakkai Nagar (North Of M.T.H Road) is Rs 2,900 per sq.ft, effective from 1 July 2024. This area is located in Korattur village and falls under the Villivakkam SRO. The land classification is Residential Class II Type - II.

How the guideline value of Kakkai Nagar (North Of M.T.H Road) has changed

In the 2007 revision, the guideline value was Rs 250 per sq.ft. This saw a significant increase to Rs 2,700 per sq.ft in the 2012 revision, marking a change of +980%. The value remained unchanged at Rs 2,700 per sq.ft in the 2023 revision. The latest revision in 2024 has raised the guideline value to Rs 2,900 per sq.ft, reflecting an increase of +7% from the previous year.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by +1060%. The register has no figures for the years 2002, 2003, and 2017 for this street.

Guideline values in Korattur

In Korattur, there are 617 streets under the Villivakkam SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 8,200 per sq.ft. The median guideline value for these streets is Rs 2,500 per sq.ft, placing Kakkai Nagar (North Of M.T.H Road) above this median.

• Kadappah Road: Rs 2,900 per sq.ft (2024)
• Kallikuppam Murugambedu Road: Rs 1,600 per sq.ft (2024)
• Kallikuppam Padasalai Street (School Street): Rs 2,100 per sq.ft (2024)
• Kallikuppam Perumal Koil Street: Rs 2,100 per sq.ft (2024)
• Kallikuppam Pillaiyar Koil Street: Rs 2,100 per sq.ft (2024)
• Kallikuppam Pilliyar Koil Street (North): Rs 2,100 per sq.ft (2024)

Stamp duty and registration fee for property in Kakkai Nagar (North Of M.T.H Road)

For a 1,000 sq.ft plot at the current guideline value of Rs 2,900 per sq.ft, the total guideline value would be Rs 29,00,000. The stamp duty at 7% would amount to Rs 2,03,000, and the registration fee at 2% would be Rs 58,000, bringing the total fees to Rs 2,61,000. Please note that duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kakkai Nagar (North Of M.T.H Road)?

The Sub Registrar Office that covers Kakkai Nagar (North Of M.T.H Road) is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By Nolambur Eb Office). You can find your SRO for more information.

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

The guideline value is a reference point used during the registration of property transactions in Korattur. It helps determine the stamp duty and registration fees that need to be paid when buying or selling property in the area.

When a property is registered, the guideline value is considered to ensure that the transaction is recorded at a fair price. This value is crucial for both buyers and sellers as it influences the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Kakkai Nagar (North Of M.T.H Road)?

The current guideline value of Kakkai Nagar (North Of M.T.H Road) is Rs 2,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has significantly increased from Rs 250 per sq.ft in 2007 to Rs 2,900 per sq.ft in 2024, marking an overall increase of +1060%.

What is the land classification for Kakkai Nagar?

Kakkai Nagar is classified as Residential Class II Type - II, which indicates its suitability for residential development.

Where can I find the Sub Registrar Office for Kakkai Nagar?

The Villivakkam Sub Registrar Office covers Kakkai Nagar and is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How is the stamp duty calculated for properties in Kakkai Nagar?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, on a property valued at Rs 29,00,000, the stamp duty would be Rs 2,03,000.