Guideline Value for Kakkan Colony 4th Street

Kakkan Colony 4th Street guideline value

The current guideline value for Kakkan Colony 4th Street is Rs 5,500 per sq.ft, effective from 1 July 2024. This street is located in Nungambakkam village and falls under the Chennai Central Joint II SRO. The land classification for this area is Residential Class IV Type - II.

How the guideline value of Kakkan Colony 4th Street has changed

The guideline value for Kakkan Colony 4th Street has undergone several revisions over the years. In 2007, the value was Rs 1,200 per sq.ft, which increased significantly to Rs 5,000 per sq.ft in 2012. However, it saw a decrease to Rs 3,350 per sq.ft in 2017. The value then rose to Rs 5,000 per sq.ft in 2023, and currently stands at Rs 5,500 per sq.ft as of the 2024 revision.

Between these revisions, there have been notable changes. From 2007 to 2012, the value increased by 317%. However, from 2012 to 2017, it decreased by 33%. The value then increased by 49% from 2017 to 2023, and finally, there was a 10% increase from 2023 to 2024. Overall, the guideline value has increased by 358% from 2007 to 2024.

Guideline values in Nungambakkam

In Nungambakkam village, there are 270 streets under the Chennai Central Joint II SRO that carry a 2024 guideline value, ranging from Rs 3,300 to Rs 22,000 per sq.ft. The median guideline value for these streets is Rs 8,800 per sq.ft, placing Kakkan Colony 4th Street's 2024 figure below that median.

• Kakkan Colony 1st Street: Rs 5,500 per sq.ft (2024)
• Kakkan Colony 2nd Street: Rs 5,500 per sq.ft (2024)
• Kakkan Colony 3rd Street: Rs 5,500 per sq.ft (2024)
• Kakkan Colony 4th Street: Rs 5,500 per sq.ft (2024)
• Kakkan Colony 5th Street: Rs 5,500 per sq.ft (2024)
• Kakkan Colony 6th Street: Rs 5,500 per sq.ft (2024)
• Kakkan Colony: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Kakkan Colony 4th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value would be Rs 55,00,000. The stamp duty at 7% would amount to Rs 3,85,000, while the registration fee at 2% would be Rs 1,10,000. Together, these costs would total Rs 4,95,000. 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 Kakkan Colony 4th Street?

The Sub Registrar Office that covers Kakkan Colony 4th Street is the Chennai Central Joint II Sub Registrar Office, located at No:5/9, Kavigar Bharathidasan Salai, Seethamalcolony, Crescent Street Alwarpet, Chennai -600018. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Nungambakkam. It serves as a reference point for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the buyer and seller must ensure that the sale price is not less than the guideline value. This ensures that the appropriate taxes are collected and helps maintain transparency in property transactions.

Frequently asked questions

What is the current guideline value of Kakkan Colony 4th Street?

The current guideline value of Kakkan Colony 4th Street is Rs 5,500 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 2007 to Rs 5,500 per sq.ft in 2024, marking an overall increase of 358% over this period.

What is the median guideline value for streets in Nungambakkam?

The median guideline value for streets in Nungambakkam is Rs 8,800 per sq.ft, which is higher than the guideline value for Kakkan Colony 4th Street.

What are the stamp duty and registration fees for properties in Kakkan Colony 4th Street?

The stamp duty is charged at 7% and the registration fee at 2%. For a 1,000 sq.ft property at the current guideline value, the total cost would be Rs 4,95,000.

Where is the Sub Registrar Office for Kakkan Colony 4th Street located?

The Sub Registrar Office covering Kakkan Colony 4th Street is located at No:5/9, Kavigar Bharathidasan Salai, Seethamalcolony, Crescent Street Alwarpet, Chennai -600018.