Guideline Value for Kakkan Colony 5th Street

Kakkan Colony 5th Street guideline value

The current guideline value of Kakkan Colony 5th 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 5th Street has changed

The guideline value for Kakkan Colony 5th Street has undergone several revisions over the years. The earliest recorded revision was in 2007, with a guideline value of Rs 1,200 per sq.ft. This figure increased significantly to Rs 5,000 per sq.ft in 2012, marking a 317% increase. However, it then decreased to Rs 3,350 per sq.ft in 2017, which was a 33% drop. The value rose again to Rs 5,000 per sq.ft in 2023, followed by a further increase to Rs 5,500 per sq.ft in 2024, reflecting a 10% rise.

There are no recorded figures for Kakkan Colony 5th Street in the years 2002 and 2003. Overall, from 2007 to 2024, the guideline value has increased by 358%.

Guideline values in Nungambakkam

In Nungambakkam, 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 value for these streets is Rs 8,800 per sq.ft, placing Kakkan Colony 5th Street's 2024 figure below that median.

• Kakkan Colony 4th Street: Rs 5,500 per sq.ft (2024)
• Kakkan Colony 6th Street: Rs 5,500 per sq.ft (2024)
• Kakkan Colony 3rd Street: Rs 5,500 per sq.ft (2024)
• Kakkan Colony 2nd Street: Rs 5,500 per sq.ft (2024)
• Kakkan Colony 1st 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 5th 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, and the registration fee at 2% would be Rs 1,10,000, bringing the total fees together to 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.

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

Which Sub Registrar Office covers Kakkan Colony 5th Street?

The Kakkan Colony 5th Street falls under the jurisdiction of the Chennai Central Joint II Sub Registrar Office. The address is No:5/9, Kavigar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018. To find your specific SRO, you can visit find your SRO.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Nungambakkam. It is used to determine the stamp duty and registration fees applicable to the transaction, ensuring that the government receives the appropriate revenue from property sales.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the registration reflects the true value of the property being transferred.

Frequently asked questions

What is the current guideline value of Kakkan Colony 5th Street?

The current guideline value of Kakkan Colony 5th 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, which is an overall increase of 358%.

What are the stamp duty rates for property in Kakkan Colony 5th Street?

The stamp duty rate for property transactions in Kakkan Colony 5th Street is 7%, and the registration fee is 2% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Kakkan Colony 5th Street?

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

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, while Kakkan Colony 5th Street's 2024 figure is below this median at Rs 5,500 per sq.ft.