Guideline Value for KAKKAN STREET

Kakkan Street guideline value

The current guideline value of Kakkan Street in Arasankalani village is Rs 1,300 per sq.ft, effective from 1 July 2024. This street falls under the Selaiyur SRO and is classified as Residential Class III Type - I.

How the guideline value of Kakkan Street has changed

The guideline value for Kakkan Street has seen several revisions over the years. The 2012 revision set the value at Rs 1,200 per sq.ft, which was then reduced to Rs 804 per sq.ft in the 2017 revision. Following this, the value increased to Rs 1,200 per sq.ft in the 2023 revision, and finally rose to Rs 1,300 per sq.ft in the 2024 revision, marking an 8% increase from the previous year.

From the 2017 revision to the 2023 revision, there was a significant increase of 49%. Overall, comparing the 2012 revision to the 2024 revision, the guideline value has increased by 8%. It is important to note that the register has no figures for Kakkan Street for the years 2002, 2003, and 2007.

Guideline values in Arasankalani

In Arasankalani, there are 85 streets under the Selaiyur SRO that carry a 2024 guideline value ranging from Rs 1,300 to Rs 4,750 per sq.ft, with a median value of Rs 2,100 per sq.ft. The guideline value for Kakkan Street is below this median.

• Kamarajar Street: Rs 2,100 per sq.ft (2024)
• Kamatchi Street: Rs 1,300 per sq.ft (2024)
• Jeevanandam Street: Rs 1,300 per sq.ft (2024)
• Jeeva Avenue: Rs 4,100 per sq.ft (2024)
• Jansirani Street: Rs 1,300 per sq.ft (2024)
• Kanni Koil Street: Rs 2,400 per sq.ft (2024)

Stamp duty and registration fee for property in Kakkan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value is Rs 13,00,000. The stamp duty at 7% would be Rs 91,000, and the registration fee at 2% would be Rs 26,000, totaling Rs 1,17,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can also use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kakkan Street?

The Sub Registrar Office that covers Kakkan Street is 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 Arasankalani

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

When registering a property, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Kakkan Street?

The current guideline value of Kakkan Street is Rs 1,300 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, then to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,300 per sq.ft in 2024.

What are the stamp duty and registration fees for property in Kakkan Street?

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 91,000 and the registration fee would be Rs 26,000, totaling Rs 1,17,000.

Which office handles the registration for Kakkan Street?

The Selaiyur Sub Registrar Office handles the registration for Kakkan Street, located at No.36, Bharathmatha Salai, East Tambaram, Chennai.

How is the guideline value determined for properties in Arasankalani?

The guideline value for properties in Arasankalani is determined based on various factors and is revised periodically by the Registration Department to reflect changes in the real estate market.