Guideline Value for KAKKANJI COLONY 1ST STREET

Kakkanji Colony 1st Street guideline value

The current guideline value of Kakkanji Colony 1st Street is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Perambur village under the Purasaivakkam SRO, classified as Residential Class III Type - II.

How the guideline value of Kakkanji Colony 1st Street has changed

The guideline value for Kakkanji Colony 1st Street has seen several revisions over the years. The 2012 revision set the value at Rs 2,500 per sq.ft, which then decreased to Rs 1,675 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 2,500 per sq.ft in 2023, and then rose again to Rs 2,700 per sq.ft in the 2024 revision, marking an 8% increase from the previous year.

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

Guideline values in Perambur

In Perambur, there are 1,114 streets under the Purasaivakkam SRO that carry a 2024 guideline value, ranging from Rs 1,600 to Rs 7,100 per sq.ft. The median value among these streets is Rs 2,700 per sq.ft, which is equal to the 2024 guideline value of Kakkanji Colony 1st Street.

• Kakkanji Colony: Rs 2,700 per sq.ft (2024)
• Kakkanji Colony 2nd Street: Rs 2,700 per sq.ft (2024)
• Kakkanji Colony 3rd Street: Rs 2,700 per sq.ft (2024)
• Kakkanji Colony 4th Street: Rs 2,700 per sq.ft (2024)
• Kakkanji Colony 5th Street: Rs 2,700 per sq.ft (2024)
• Kakkanji Nagar: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Kakkanji Colony 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value amounts to Rs 27,00,000. The stamp duty at 7% would be Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, bringing the total charges to Rs 2,43,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kakkanji Colony 1st Street?

The Sub Registrar Office that covers Kakkanji Colony 1st Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. To find your specific SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in the registration process of property transactions in Perambur. It serves as the benchmark for calculating stamp duty and registration fees, ensuring that all transactions are recorded at a standardized value.

When buying or selling property, the guideline value is used to determine the applicable fees, which are calculated based on the higher of the guideline value or the sale price. This ensures transparency and consistency in property transactions.

Frequently asked questions

What is the current guideline value of Kakkanji Colony 1st Street?

The current guideline value of Kakkanji Colony 1st Street is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2023 to Rs 2,700 per sq.ft in 2024, an increase of 8%. It was Rs 1,675 per sq.ft in 2017, which shows a 49% increase to 2023.

What are the registration fees for property in Kakkanji Colony 1st Street?

The registration fees for property in Kakkanji Colony 1st Street include a stamp duty of 7% and a registration fee of 2%, based on the guideline value or sale price, whichever is higher.

Which Sub Registrar Office covers this area?

The Purasaivakkam Sub Registrar Office covers Kakkanji Colony 1st Street, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.

What is the land classification for Kakkanji Colony 1st Street?

Kakkanji Colony 1st Street is classified as Residential Class III Type - II.