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Guideline Value

Corporate

Guideline Value for Kakkan Nagar 1st Main Road (Alias) Sasthri Nagar Main Road

₹4400/sq.ft.

The guideline value for Kakkan Nagar 1st Main Road (alias) Sasthri Nagar Main Road in Velachery village (Velacheri SRO, Chennai zone) is Rs 4400 per sq.ft, effective 1 July 2024. The land classification is Residential Class Ii Type - Ii. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Velachery

Village

Velacheri

SRO

Residential Class II Type - II
History
Period Guideline Value
From 1-7-2024 ₹4400 /sq.ft.
From 1-4-2023 N/A
From 9-6-2017 To 31-3-2023 ₹2680 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹4000 /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 Kakkan Nagar 1st Main Road (alias) Sasthri Nagar Main Road

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Kakkan Nagar 1st Main Road (Alias) Sasthri Nagar Main Road guideline value

The current guideline value of Kakkan Nagar 1st Main Road (Alias) Sasthri Nagar Main Road is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Velachery village and falls under the Velacheri SRO. The land classification for this area is Residential Class II Type - II.

How the guideline value of Kakkan Nagar 1st Main Road (Alias) Sasthri Nagar Main Road has changed

In the 2012 revision, the guideline value was set at Rs 4,000 per sq.ft. This figure decreased to Rs 2,680 per sq.ft in the 2017 revision, marking a decline of 33%. However, from 2017 to the 2024 revision, the guideline value saw a significant increase of 64%, rising to the current rate of Rs 4,400 per sq.ft.

Overall, when comparing the 2012 revision to the 2024 revision, there has been a modest increase of 10%. It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2023 for this street.

Guideline values in Velachery

In Velachery, there are 2,691 streets under the Velacheri SRO that carry a 2024 guideline value ranging from Rs 3,300 to Rs 13,200 per sq.ft. The median value among these streets is Rs 4,400 per sq.ft, which is equal to the current guideline value of Kakkan Nagar 1st Main Road (Alias) Sasthri Nagar Main Road.

Stamp duty and registration fee for property in Kakkan Nagar 1st Main Road (Alias) Sasthri Nagar Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value would be Rs 44,00,000. The stamp duty at 7% would amount to Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, leading to a total of Rs 3,96,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Kakkan Nagar 1st Main Road (Alias) Sasthri Nagar Main Road?

The Sub Registrar Office that covers Kakkan Nagar 1st Main Road (Alias) Sasthri Nagar Main Road 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 details.

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

The guideline value is a crucial factor in determining the stamp duty and registration fees when buying or selling property in Velachery. It serves as a benchmark for the minimum value at which properties can be registered, ensuring that the government receives appropriate revenue from property transactions.

When a property is sold, the buyer must pay stamp duty based on the higher of the guideline value or the sale price. This ensures that the transaction is recorded at a value that reflects the market conditions and government regulations.

Frequently asked questions

What is the current guideline value of Kakkan Nagar 1st Main Road?

The current guideline value of Kakkan Nagar 1st Main Road (Alias) Sasthri Nagar Main Road is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since the 2012 revision, the guideline value has experienced fluctuations, going from Rs 4,000 per sq.ft in 2012 to Rs 2,680 per sq.ft in 2017, and then rising to Rs 4,400 per sq.ft in 2024.

What are the stamp duty and registration fees for property transactions?

The stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, while the registration fee is 2%. For example, for a 1,000 sq.ft plot, the total fees can amount to Rs 3,96,000.

Which office handles registrations for Kakkan Nagar 1st Main Road?

The Velacheri Sub Registrar Office handles registrations for Kakkan Nagar 1st Main Road (Alias) Sasthri Nagar Main Road. It is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

What is the land classification for Kakkan Nagar 1st Main Road?

The land classification for Kakkan Nagar 1st Main Road (Alias) Sasthri Nagar Main Road is Residential Class II Type - II.