Guideline Value for Kakanji Street

Kakanji Street guideline value

The current guideline value of Kakanji Street is Rs 440 per sq.ft, effective from 1 July 2024. This street is located in Vengambakkam village, under the Tambaram Joint 1 SRO, and is classified as Residential Class I Type - III.

How the guideline value of Kakanji Street has changed

Over the years, the guideline value of Kakanji Street has seen several revisions. The earliest recorded revision for this street is from 2012, where the value was Rs 400 per sq.ft. In 2017, the value dropped to Rs 268 per sq.ft, marking a decrease of 33%. However, from 2017 to 2023, there was a significant increase of 49%, raising the value to Rs 400 per sq.ft. The most recent revision in 2024 set the guideline value at Rs 440 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that there are no recorded figures for Kakanji Street in the revisions of 2002, 2003, and 2007. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Vengambakkam

In Vengambakkam, there are 88 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value ranging from Rs 440 to Rs 5,000 per sq.ft, with a median value of Rs 770 per sq.ft. Kakanji Street's 2024 guideline value is below this median.

• Kalaingar Street: Rs 440 per sq.ft (2024)
• Jayapaul Street: Rs 550 per sq.ft (2024)
• Jagajeevan Ram Street: Rs 550 per sq.ft (2024)
• Indira Gandhi Street: Rs 440 per sq.ft (2024)
• Indira Gandhi Nagar: Rs 440 per sq.ft (2024)
• Kavina Garden: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Kakanji Street

For a 1,000 sq.ft plot at the current rate of Rs 440 per sq.ft, the guideline value amounts to Rs 4,40,000. The stamp duty, charged at 7%, would be Rs 30,800, while the registration fee at 2% would be Rs 8,800. Together, the total fees would amount to Rs 39,600. It is important to note that duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kakanji Street?

The Sub Registrar Office that covers Kakanji Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, 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 Vengambakkam

The guideline value is a crucial factor during the registration process of property transactions in Vengambakkam. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, it is essential to be aware of the guideline value, as it can impact the overall cost of the transaction. Buyers should ensure that the sale price is at least equal to the guideline value to avoid any legal complications during registration.

Frequently asked questions

What is the current guideline value of Kakanji Street?

The current guideline value of Kakanji Street is Rs 440 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 400 per sq.ft in 2012 to Rs 440 per sq.ft in 2024, with various revisions in between, including a drop to Rs 268 per sq.ft in 2017.

What is the median guideline value in Vengambakkam?

The median guideline value in Vengambakkam is Rs 770 per sq.ft, with Kakanji Street's value being below this median.

How are stamp duty and registration fees calculated?

Stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, while the registration fee is charged at 2% of the same. For example, a 1,000 sq.ft plot at Rs 440 per sq.ft incurs a total fee of Rs 39,600.

Which office handles registrations for Kakanji Street?

The Tambaram Joint 1 Sub Registrar Office handles registrations for Kakanji Street, located at No.26, Mes Road, East Tambaram, Chennai-600059.