Guideline Value for KAKKANJI STREET

Kakkanji Street guideline value

The current guideline value of Kakkanji 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 is classified as Residential Class IV Type - II.

How the guideline value of Kakkanji Street has changed

The guideline value for Kakkanji Street has undergone several revisions over the years. In 2002, the value was Rs 58 per sq.ft, which increased to Rs 100 per sq.ft in 2003, marking a 72% rise. The value continued to climb significantly, reaching Rs 400 per sq.ft in 2007, a 300% increase from the previous revision. By 2012, the value had risen to Rs 1,200 per sq.ft, reflecting a 200% increase from 2007. However, it decreased to Rs 804 per sq.ft in 2017, which was a decline of 33% from the 2012 figure. The value then increased to Rs 1,200 per sq.ft in 2023, showing a 49% rise. Finally, the current revision for 2024 sets the guideline value at Rs 1,320 per sq.ft, a 10% increase from 2023.

There are no figures available for Kakkanji Street in the revisions for the years not listed. Overall, the guideline value has increased by 2,176% from 2002 to 2024.

Guideline values in Pallikaranai

Pallikaranai village has a total of 749 streets under the Chennai South Joint I SRO, with the 2024 guideline values ranging from Rs 1,110 to Rs 8,580 per sq.ft. The median value for these streets is Rs 1,650 per sq.ft, placing Kakkanji Street's 2024 guideline value below this median.

• Kakkanji Street Extn: Rs 1,320 per sq.ft (2024)
• Kakkanji Cross Street: 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 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, making the total 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.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Kakkanji Street?

Kakkanji Street falls under the jurisdiction of 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. It serves as a benchmark for determining the minimum value at which a property can be registered. When buying or selling a property, the guideline value is used to calculate the stamp duty and registration fees, ensuring that the transaction is compliant with local regulations.

During the registration process, the guideline value is compared with the sale price of the property. The higher of the two values is used to calculate the applicable fees, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Kakkanji Street?

The current guideline value of Kakkanji 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 increased significantly from Rs 58 per sq.ft in 2002 to Rs 1,320 per sq.ft in 2024, representing a total increase of 2,176% over this period.

What is the median guideline value for streets in Pallikaranai?

The median guideline value for streets in Pallikaranai is Rs 1,650 per sq.ft, while Kakkanji Street's 2024 value is below this median.

What are the stamp duty rates for properties in Kakkanji Street?

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

Where is the Sub Registrar Office for Kakkanji Street located?

The Chennai South Joint I Sub Registrar Office is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.