Guideline Value for Kakkan-ji-Street

Kakkan-ji-Street guideline value

The current guideline value of Kakkan-ji-Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Madipakkam-1 village under the Velacheri SRO, classified as Residential Class II Type - I.

How the guideline value of Kakkan-ji-Street has changed

The guideline value for Kakkan-ji-Street has seen several revisions over the years. The earliest recorded figure is from the 2017 revision at Rs 1,340 per sq.ft. This value increased significantly to Rs 2,000 per sq.ft in the 2023 revision, marking a 49% rise. The most recent revision in 2024 set the guideline value at Rs 2,200 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that there are no figures available for Kakkan-ji-Street in the revisions from 2002, 2003, 2007, and 2012. Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1,823 streets under the Velacheri SRO, with guideline values ranging from Rs 1,650 to Rs 5,500 per sq.ft. The median guideline value in this area is Rs 2,750 per sq.ft, placing Kakkan-ji-Street's 2024 figure below that median.

• Kakkan Street: Rs 2,200 per sq.ft (2024)
• Kakkan Street/Balaiah Garden: Rs 3,850 per sq.ft (2024)
• Kalaiamagal Nagar 3rd Cross Street: Rs 2,750 per sq.ft (2024)
• Kaduvetti Vinayager Koil Street: Rs 2,750 per sq.ft (2024)
• Kaduvetti Vinayagar Koil Street/New Kubera Nagar: Rs 2,750 per sq.ft (2024)
• Kaduvetti Vinayagar Koil Street/Kubera Nagar: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Kakkan-ji-Street

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

You can use our stamp duty and registration fee calculator to estimate your costs.

Which Sub Registrar Office covers Kakkan-ji-Street?

The Sub Registrar Office that covers Kakkan-ji-Street 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 information.

How the guideline value is used when you buy or sell in Madipakkam-1

The guideline value is a crucial factor during the registration of property transactions in Madipakkam-1. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid, ensuring that these costs are calculated fairly based on the property's assessed value.

When buying or selling property, the guideline value helps both parties understand the minimum value at which the property can be registered. This ensures transparency and compliance with local regulations during the transaction process.

Frequently asked questions

What is the current guideline value of Kakkan-ji-Street?

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

How much has the guideline value changed over the years?

The guideline value has increased from Rs 1,340 per sq.ft in 2017 to Rs 2,200 per sq.ft in 2024, marking a total increase of 64% over these years.

What are the stamp duty and registration fees for a property on Kakkan-ji-Street?

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 1,54,000 and the registration fee would be Rs 44,000, totaling Rs 1,98,000.

Which Sub Registrar Office handles registrations for Kakkan-ji-Street?

The Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042, handles registrations for Kakkan-ji-Street.

What is the land classification for Kakkan-ji-Street?

Kakkan-ji-Street is classified as Residential Class II Type - I, which is important for understanding the zoning regulations and potential uses of the property.