Guideline Value for Kakkan Street

Kakkan Street guideline value

The current guideline value of Kakkan Street in Nemilicherry village is Rs 2,200 per sq.ft, effective from 1 July 2024. This street falls under the Pallavaram SRO and is classified as Residential Class I Type - III.

How the guideline value of Kakkan Street has changed

The guideline value for Kakkan Street has seen several revisions over the years. In 2007, the value was Rs 400 per sq.ft, which increased significantly to Rs 2,200 per sq.ft in 2012. However, it then decreased to Rs 1,474 per sq.ft in 2017. The 2023 revision set the value at Rs 2,000 per sq.ft, and the most recent 2024 revision has raised it to Rs 2,200 per sq.ft. Notably, there are no figures available for the years 2002 and 2003 in the register for this street.

From 2012 to 2017, the guideline value decreased by 33%, while from 2017 to 2023, it increased by 36%. The jump from 2023 to 2024 reflects a 10% increase. Overall, the guideline value has increased by 450% from the 2007 figure to the current 2024 value.

Guideline values in Nemilicherry

In Nemilicherry, there are 172 streets under the Pallavaram SRO that have a 2024 guideline value ranging from Rs 1,100 to Rs 3,300 per sq.ft. The median value is Rs 2,160 per sq.ft, placing Kakkan Street's 2024 figure above this median.

• Kabali Street: Rs 2,160 per sq.ft (2024)
• Kamaraj Street: Rs 2,200 per sq.ft (2024)
• Kambar Street: Rs 2,200 per sq.ft (2024)
• Kannammal Nagar: Rs 2,160 per sq.ft (2024)
• Kanni Koil Street: Rs 2,160 per sq.ft (2024)
• Iyswarya Nagar: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Kakkan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total cost for these fees to Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kakkan Street?

The Sub Registrar Office covering Kakkan Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone.

You can find your SRO for more details.

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

The guideline value is a crucial factor when buying or selling property in Nemilicherry. It serves as a benchmark for determining the value of the property for registration purposes. Buyers and sellers must consider the guideline value to ensure compliance with local regulations during the registration process.

When a property is registered, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that both parties are aware of the financial obligations associated with the transaction, based on the officially recognized value of the property.

Frequently asked questions

What is the current guideline value of Kakkan Street?

The current guideline value of Kakkan Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 400 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024, with various increases and decreases in between.

What is the land classification for Kakkan Street?

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

Where is the Sub Registrar Office for Kakkan Street located?

The Sub Registrar Office for Kakkan Street is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone.

How is stamp duty calculated for property in Kakkan Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a property with a guideline value of Rs 22,00,000 would incur a stamp duty of Rs 1,54,000 at 7%.