Guideline Value for Kakkan Street

Kakkan Street guideline value

The current guideline value of Kakkan Street in Nemili village is Rs 210 per sq.ft, effective from 1 July 2024. This street falls under the Sriperumpudur SRO and is classified as Residential Class III Type - I.

How the guideline value of Kakkan Street has changed

Over the years, the guideline value of Kakkan Street has seen several revisions. The earliest available figure is from 2012, when the value was Rs 200 per sq.ft. This was followed by a decrease to Rs 134 per sq.ft in 2017, marking a decline of 33%. However, from 2017 to 2023, the value increased significantly to Rs 200 per sq.ft, a rise of 49%. The most recent revision in 2024 set the guideline value at Rs 210 per sq.ft, which is a 5% increase from the previous year.

It is important to note that the register has no figures for Kakkan Street in the years 2002, 2003, and 2007. Overall, from 2012 to 2024, the guideline value has increased by 5%.

Guideline values in Nemili

In Nemili, there are 66 streets under the Sriperumpudur SRO with a 2024 guideline value ranging from Rs 150 to Rs 1,000 per sq.ft. The median value among these streets is Rs 250 per sq.ft, placing Kakkan Street's 2024 figure below that median.

• Kamarajar Street: Rs 210 per sq.ft (2024)
• Karthik Nagar: Rs 210 per sq.ft (2024)
• Hasiya Nagar: Rs 210 per sq.ft (2024)
• Gragapriya Nagar: Rs 300 per sq.ft (2024)
• Gowthami Nagar (Gowthami Estates): Rs 300 per sq.ft (2024)
• Gowtham Golden Avenue: Rs 300 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 210 per sq.ft, the total guideline value amounts to Rs 2,10,000. The stamp duty at 7% would be Rs 14,700, and the registration fee at 2% would be Rs 4,200, bringing the total to Rs 18,900. It is important to note that duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Kakkan Street?

The Sub Registrar Office that covers Kakkan Street is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Nemili. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the transaction.

When a property is sold, the guideline value is assessed to ensure that the transaction is recorded accurately and that the appropriate fees are collected. Buyers and sellers should be aware of the current guideline value to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of Kakkan Street?

The current guideline value of Kakkan Street is Rs 210 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 200 per sq.ft in 2012 to Rs 134 per sq.ft in 2017, then increased to Rs 200 per sq.ft in 2023, and finally to Rs 210 per sq.ft in 2024.

What is the land classification of Kakkan Street?

Kakkan Street is classified as Residential Class III Type - I under the guideline value register.

What are the stamp duty and registration fees for property in Kakkan Street?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total costs would amount to Rs 18,900.

Which Sub Registrar Office covers Kakkan Street?

Kakkan Street is covered by the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.