Guideline Value for KAKKANJI CROSS STREET

Kakkanji Cross Street guideline value

The current guideline value of Kakkanji Cross Street is Rs 1,320 per sq.ft, effective from 1 July 2024. This street is located in Pallikaranai village, under the Chennai South Joint I SRO, and falls under the Residential Class IV Type - II land classification.

How the guideline value of Kakkanji Cross Street has changed

Over the years, the guideline value of Kakkanji Cross Street has seen several revisions. 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 2023 revision increased the value to Rs 1,200 per sq.ft, and the current 2024 revision has further increased it to Rs 1,320 per sq.ft, marking a 10% rise from the previous year.

From 2017 to 2023, the guideline value increased by 49%, while from 2012 to 2017, it decreased by 33%. Overall, from 2012 to 2024, the guideline value has seen a 10% increase. It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007.

Guideline values in Pallikaranai

In Pallikaranai, there are 749 streets under the Chennai South Joint I SRO, with guideline values ranging from Rs 1,110 to Rs 8,580 per sq.ft. The median guideline value in this area is Rs 1,650 per sq.ft, placing Kakkanji Cross Street's 2024 figure below that median.

• Kakkanji Street: Rs 1,320 per sq.ft (2024)
• Kakkanji Street Extn: Rs 1,320 per sq.ft (2024)
• Kabilar Street Vgp Shanthi Nagar: Rs 2,750 per sq.ft (2024)
• Kalaivanar Street: Rs 1,650 per sq.ft (2024)
• Kalasekar Nagar: Rs 1,110 per sq.ft (2024)
• Kalidasar Street: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Kakkanji Cross Street

For a 1,000 sq.ft plot at the current rate of Rs 1,320 per sq.ft, the guideline value would be Rs 13,20,000. The stamp duty at 7% would amount to Rs 92,400, and the registration fee at 2% would be Rs 26,400, bringing the total to Rs 1,18,800. It is important to note that the duty is charged on the higher of the guideline value or the sale price. To calculate your fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kakkanji Cross Street?

The Sub Registrar Office that covers Kakkanji Cross Street is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Pallikaranai, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value when negotiating sale prices to ensure compliance with registration requirements.

At the time of registration, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the registration process reflects the true value of the property being transferred.

Frequently asked questions

What is the current guideline value of Kakkanji Cross Street?

The current guideline value of Kakkanji Cross Street is Rs 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, then back to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,320 per sq.ft in 2024.

What are the other streets in Pallikaranai with similar guideline values?

Other streets in Pallikaranai with similar guideline values include Kakkanji Street and Kakkanji Street Extn, both at Rs 1,320 per sq.ft in 2024.

What is the stamp duty rate for properties in Kakkanji Cross Street?

The stamp duty rate for properties in Kakkanji Cross Street is 7% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Kakkanji Cross Street?

The Sub Registrar Office for Kakkanji Cross Street is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.