Guideline Value for Kakkan Street

Kakkan Street guideline value

The current guideline value of Kakkan Street in Neelankarai village is Rs 1,700 per sq.ft, effective from 1 July 2024. This street falls under the Neelankarai SRO and is classified as Residential Class III Type - I.

How the guideline value of Kakkan Street has changed

The guideline value for Kakkan Street has seen several revisions over the years. In 2002, the value was Rs 147 per sq.ft, which increased to Rs 160 per sq.ft in 2003. The next significant jump occurred in 2007 when the value rose to Rs 500 per sq.ft, marking an increase of 213%. Following this, the value doubled to Rs 1,500 per sq.ft in 2012, but then dropped to Rs 1,005 per sq.ft in 2017, a decline of 33%. The value further increased to Rs 1,500 per sq.ft in 2023 and is now set at Rs 1,700 per sq.ft in 2024, reflecting a 13% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 1,056%. There are no figures available for the years not listed in the register for Kakkan Street.

Guideline values in Neelankarai

In Neelankarai, there are 377 streets under the Neelankarai SRO, with guideline values ranging from Rs 1,000 to Rs 10,500 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, placing Kakkan Street's 2024 figure below this median.

• Kalaignar Karunanidhi Salai: Rs 6,600 per sq.ft (2024)
• Kabaleeswarar Nagar South 4th Main Road: Rs 6,100 per sq.ft (2024)
• Kabaleeswarar Nagar South 3rd Main Road: Rs 6,100 per sq.ft (2024)
• Kabaleeswarar Nagar South 2nd Main Road: Rs 6,100 per sq.ft (2024)
• Kabaleeswarar Nagar South 1st Main Road: Rs 6,100 per sq.ft (2024)
• Kabaleeswarar Nagar North 2nd Main Road: Rs 6,100 per sq.ft (2024)

Stamp duty and registration fee for property in Kakkan Street

For a 1,000 sq.ft plot at the current rate, the guideline value is Rs 17,00,000. The stamp duty at 7% amounts to Rs 1,19,000, and the registration fee at 2% totals Rs 34,000, bringing the total to Rs 1,53,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kakkan Street?

The Sub Registrar Office that covers Kakkan Street is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role in property transactions in Neelankarai. It is used to determine the stamp duty and registration fees applicable during the sale or purchase of a property. Buyers and sellers should be aware that the guideline value is a key factor in the registration process.

When a property is sold, the guideline value is compared with the sale price. The higher of the two figures is used to calculate the stamp duty, ensuring that the appropriate fees are paid to the government. This process helps maintain transparency and fairness in property transactions.

Frequently asked questions

What is the current guideline value of Kakkan Street?

The current guideline value of Kakkan Street is Rs 1,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 147 per sq.ft in 2002 to Rs 1,700 per sq.ft in 2024, reflecting an overall increase of 1,056% over the years.

What is the land classification for Kakkan Street?

Kakkan Street is classified as Residential Class III Type - I under the Neelankarai SRO.

Where can I find the Neelankarai Sub Registrar Office?

The Neelankarai Sub Registrar Office is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

How is stamp duty calculated for properties in Kakkan Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a 1,000 sq.ft plot, the total guideline value is Rs 17,00,000, leading to a stamp duty of Rs 1,19,000.