Guideline Value for Kakkan Colony 6th Street

Kakkan Colony 6th Street guideline value

The current guideline value of Kakkan Colony 6th 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 6th Street has changed

The guideline value for Kakkan Colony 6th Street has seen several revisions over the years. In the 2007 revision, the value was Rs 1,200 per sq.ft. This increased significantly to Rs 5,000 per sq.ft in the 2012 revision, marking a 317% increase. However, in the 2017 revision, the value dropped to Rs 3,350 per sq.ft, reflecting a decrease of 33%. The 2023 revision saw the value rise to Rs 5,000 per sq.ft, and in the latest 2024 revision, it increased further to Rs 5,500 per sq.ft, a change of 10% from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 358%. It is important to note that the register has no figures for Kakkan Colony 6th Street for the years 2002 and 2003.

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 guideline value in this area is Rs 8,800 per sq.ft, and Kakkan Colony 6th Street's current value is below that median.

• Kakkan Colony 5th Street: Rs 5,500 per sq.ft (2024)
• Kakkan Colony 4th 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 6th Street

For a 1,000 sq.ft plot at the current rate of Rs 5,500 per sq.ft, the guideline value would be Rs 55,00,000. The stamp duty at 7% would be Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, bringing the total to Rs 4,95,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kakkan Colony 6th Street?

Kakkan Colony 6th Street is covered by 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 is a crucial element in the property registration process in Nungambakkam. It serves as a benchmark for determining the minimum value of properties for the purpose of calculating stamp duty and registration fees. Buyers and sellers must be aware of the guideline value to ensure compliance with legal requirements during property transactions.

When a property is sold, the guideline value helps in assessing the appropriate stamp duty and registration fees that need to be paid. This ensures that the transaction is recorded accurately and that the authorities receive the correct amount of revenue from property sales.

Frequently asked questions

What is the current guideline value of Kakkan Colony 6th Street?

The current guideline value of Kakkan Colony 6th 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, reflecting an overall increase of 358% over the years.

What is the guideline value for other streets in Kakkan Colony?

Other streets in Kakkan Colony, such as the 1st, 2nd, 3rd, 4th, and 5th Streets, also have a guideline value of Rs 5,500 per sq.ft for 2024.

Where can I calculate stamp duty and registration fees?

You can calculate stamp duty and registration fees using the stamp duty and registration fee calculator available on our website.

Which office handles registrations for Kakkan Colony 6th Street?

The Chennai Central Joint II Sub Registrar Office handles registrations for Kakkan Colony 6th Street, located at No:5/9, Kavigar Bharathidasan Salai, Seethamalcolony, Crescent Street Alwarpet, Chennai -600018.