Guideline Value for Kakkan Nagar 2nd Main Road

Kakkan Nagar 2nd Main Road guideline value

The current guideline value of Kakkan Nagar 2nd Main Road is Rs 3,850 per sq.ft, effective from 1 July 2024. This road is located in Velachery village, under the Velacheri SRO, and is classified as Residential Class II Type - III.

How the guideline value of Kakkan Nagar 2nd Main Road has changed

The guideline value for Kakkan Nagar 2nd Main Road has seen several revisions over the years. In 2007, the guideline value was Rs 1,500 per sq.ft, which increased significantly to Rs 3,500 per sq.ft in 2012, marking a rise of 133%. However, it then decreased to Rs 2,345 per sq.ft in 2017, a drop of 33%. The value rose again to Rs 3,500 per sq.ft in 2023, and most recently, it increased by 10% to Rs 3,850 per sq.ft in 2024.

There are no figures available for the revisions in 2002 and 2003 for this street. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 157%.

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, with a median value of Rs 4,400 per sq.ft. The guideline value of Kakkan Nagar 2nd Main Road is below this median.

• Kakkan Nagar 2nd Cross Street: Rs 3,300 per sq.ft (2024)
• Kakkan Nagar 2nd street: Rs 3,850 per sq.ft (2024)
• Kakkan Nagar 1st street: Rs 3,850 per sq.ft (2024)
• Kakkan Nagar 3rd Cross Street: Rs 3,300 per sq.ft (2024)
• Kakkan Nagar 1st Main Road (Alias) Sasthri Nagar Main Road: Rs 4,400 per sq.ft (2024)
• Kakkan Nagar 3rd Main Road: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Kakkan Nagar 2nd Main Road

For a 1,000 sq.ft plot at the current rate of Rs 3,850 per sq.ft, the guideline value is Rs 38,50,000. The stamp duty at 7% would be Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, totaling Rs 3,46,500. Please note that 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 details.

Which Sub Registrar Office covers Kakkan Nagar 2nd Main Road?

The Kakkan Nagar 2nd Main Road falls under 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 information.

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

The guideline value is an essential factor when registering property in Velachery. It is used to determine the stamp duty and registration fees applicable to the property transaction, ensuring that the government collects the appropriate revenue based on the property's value.

When buying or selling property, the guideline value serves as a benchmark for the minimum price at which a property can be registered. This ensures transparency and fairness in property transactions within the region.

Frequently asked questions

What is the current guideline value of Kakkan Nagar 2nd Main Road?

The current guideline value of Kakkan Nagar 2nd Main Road is Rs 3,850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2007 to Rs 3,850 per sq.ft in 2024, reflecting an overall increase of 157% over the years.

What are the stamp duty and registration fees for property in Kakkan Nagar 2nd Main Road?

For a property valued at Rs 38,50,000, the stamp duty would be Rs 2,69,500 and the registration fee would be Rs 77,000, totaling Rs 3,46,500.

Which Sub Registrar Office covers Kakkan Nagar 2nd Main Road?

The Velacheri Sub Registrar Office covers Kakkan Nagar 2nd Main Road, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

What is the land classification of Kakkan Nagar 2nd Main Road?

Kakkan Nagar 2nd Main Road is classified as Residential Class II Type - III, indicating its designation for residential use.