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Guideline Value

Corporate

Guideline Value for Kakan Nagar Part-1 2nd Cross Street

₹3850/sq.ft.

The guideline value for Kakan Nagar Part-1 2nd Cross Street in Velachery village (Velacheri SRO, Chennai zone) is Rs 3850 per sq.ft, effective 1 July 2024. It was Rs 3500 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Class Ii Type - Iii. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Velachery

Village

Velacheri

SRO

Residential Class II Type - III
History
Period Guideline Value
From 1-7-2024 ₹3850 /sq.ft.
From 1-4-2023 ₹3500 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹2345 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹3500 /sq.ft.
From 1-8-2007 To 31-3-2012 N/A
From 1-4-2003 To 31-7-2007 N/A
From 1-4-2002 To 31-3-2003 N/A
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042
044-22553736
[email protected]

DRO (District Registrar Office)

Integrated Building For Offices Of The Commercial Taxes And Registration Department, Fanepet, Nandhanam, Chennai - 35.
044-22505552
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on Kakan Nagar Part-1 2nd Cross Street

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Kakan Nagar Part-1 2nd Cross Street guideline value

The current guideline value of Kakan Nagar Part-1 2nd Cross Street is Rs 3,850 per sq.ft. This street is located in Velachery village, under the Velacheri SRO, and is classified as Residential Class II Type - III.

How the guideline value of Kakan Nagar Part-1 2nd Cross Street has changed

The guideline value for Kakan Nagar Part-1 2nd Cross Street has undergone several revisions over the years. The 2012 revision set the value at Rs 3,500 per sq.ft, which then decreased to Rs 2,345 per sq.ft in the 2017 revision. However, from 2017 to 2023, the value increased significantly to Rs 3,500 per sq.ft, and the most recent 2024 revision has set it at Rs 3,850 per sq.ft, marking a 10% increase from the previous year.

There are no figures available for the revisions in 2002, 2003, and 2007 for this street. The overall change from the 2012 revision to the 2024 revision reflects a 10% increase, highlighting the fluctuations in the guideline value over the years.

Guideline values in Velachery

In Velachery, there are 2,691 streets under the Velacheri SRO with a 2024 guideline value ranging from Rs 3,300 to Rs 13,200 per sq.ft. The median guideline value for these streets is Rs 4,400 per sq.ft, placing Kakan Nagar Part-1 2nd Cross Street's 2024 figure below that median.

Stamp duty and registration fee for property in Kakan Nagar Part-1 2nd Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,850 per sq.ft, the total guideline value amounts to Rs 38,50,000. The stamp duty at 7% would be Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, bringing the total cost to Rs 3,46,500. It is important to note that duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kakan Nagar Part-1 2nd Cross Street?

The Sub Registrar Office that covers Kakan Nagar Part-1 2nd Cross Street is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Velachery. It serves as a benchmark for determining the amount of stamp duty and registration fees applicable on property sales.

When buying or selling property, the guideline value helps ensure that the transaction is recorded at a fair value, which is essential for legal and taxation purposes. Buyers and sellers should be aware of the current guideline value to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of Kakan Nagar Part-1 2nd Cross Street?

The current guideline value of Kakan Nagar Part-1 2nd Cross Street is Rs 3,850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,500 per sq.ft in 2023 to Rs 3,850 per sq.ft in 2024, marking a 10% increase. It was Rs 2,345 per sq.ft in 2017, and Rs 3,500 per sq.ft in 2012.

What is the land classification for Kakan Nagar Part-1 2nd Cross Street?

Kakan Nagar Part-1 2nd Cross Street is classified as Residential Class II Type - III.

What are the stamp duty and registration fees for property in this area?

The stamp duty is charged at 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total guideline value is Rs 38,50,000, leading to a total cost of Rs 3,46,500 in fees.

Which Sub Registrar Office covers this street?

The Velacheri Sub Registrar Office covers Kakan Nagar Part-1 2nd Cross Street, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.