Guideline Value for KAKKAN STREET MGR NAGAR (WARD-20)

Kakkan Street Mgr Nagar (Ward-20) guideline value

The current guideline value of Kakkan Street Mgr Nagar (Ward-20) is Rs 880 per sq.ft, effective from 1 July 2024. This street is located in Konathi village and falls under the Chengleput Joint II SRO. The land classification for this area is Residential Class I Type - II.

How the guideline value of Kakkan Street Mgr Nagar (Ward-20) has changed

The guideline value for Kakkan Street Mgr Nagar has seen several revisions over the years. The 2012 revision set the value at Rs 800 per sq.ft, which was then reduced to Rs 536 per sq.ft in the 2017 revision. This marked a decrease of 33%. However, the value rebounded significantly in the 2023 revision to Rs 800 per sq.ft, and further increased to Rs 880 per sq.ft in the 2024 revision, reflecting a 10% rise from the previous year.

From 2017 to 2023, the guideline value increased by 49%. Overall, from the 2012 revision to the 2024 revision, there has been a total increase of 10%. It is important to note that the register has no figures for Kakkan Street Mgr Nagar for the years 2002, 2003, and 2007.

Guideline values in Konathi

In Konathi, there are 131 streets under the Chengleput Joint II SRO with a 2024 guideline value ranging from Rs 440 to Rs 2,500 per sq.ft. The median guideline value in this area is Rs 770 per sq.ft, positioning Kakkan Street Mgr Nagar above this median.

• Kalaignar Karunanithi Street (Ward-20): Rs 1,100 per sq.ft (2024)
• Kalaimagal Street (Ward-21): Rs 660 per sq.ft (2024)
• Kalaivani Nagar Main Road (Ward -1): Rs 770 per sq.ft (2024)
• Kaathavarayan Koil Street (Ward -1): Rs 770 per sq.ft (2024)
• Kamarajar Street (Ward-21): Rs 660 per sq.ft (2024)
• Kamatchi Nagar (Val): Rs 880 per sq.ft (2024)

Stamp duty and registration fee for property in Kakkan Street Mgr Nagar (Ward-20)

For a 1,000 sq.ft plot at the current guideline value of Rs 880 per sq.ft, the total guideline value amounts to Rs 8,80,000. The stamp duty at 7% would be Rs 61,600, and the registration fee at 2% would be Rs 17,600, bringing the total cost to Rs 79,200. 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 Kakkan Street Mgr Nagar (Ward-20)?

The Sub Registrar Office that covers Kakkan Street Mgr Nagar (Ward-20) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process of property transactions in Konathi. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the sale or purchase of property.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value for Kakkan Street Mgr Nagar?

The current guideline value for Kakkan Street Mgr Nagar (Ward-20) is Rs 880 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 800 per sq.ft in 2012 to Rs 536 per sq.ft in 2017, then back to Rs 800 per sq.ft in 2023, and finally to Rs 880 per sq.ft in 2024.

What is the stamp duty for property in Kakkan Street Mgr Nagar?

The stamp duty for property in Kakkan Street Mgr Nagar is calculated at 7% of the guideline value or sale price, whichever is higher.

Which office handles property registrations in Kakkan Street Mgr Nagar?

The Chengleput Joint II Sub Registrar Office handles property registrations for Kakkan Street Mgr Nagar, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.

What is the land classification for Kakkan Street Mgr Nagar?

The land classification for Kakkan Street Mgr Nagar is Residential Class I Type - II.