Guideline Value for Kakkanji Street

Kakkanji Street guideline value

The current guideline value of Kakkanji Street is Rs 275 per sq.ft, effective from 1 July 2024. This street is located in Orakadu & Kiruthalapuram village, under the Redhills SRO, and is classified as Residential Class II Type - I.

How the guideline value of Kakkanji Street has changed

The guideline value for Kakkanji Street has seen several revisions over the years. In 2007, the value was Rs 200 per sq.ft, which increased to Rs 250 per sq.ft in 2012, marking a 25% increase. However, from 2012 to 2017, the value decreased to Rs 167 per sq.ft, reflecting a 33% drop. The value then rose significantly to Rs 250 per sq.ft in 2023, a 50% increase from the previous revision. The latest revision in 2024 has set the guideline value at Rs 275 per sq.ft, an increase of 10% from 2023.

The register has no figures for Kakkanji Street for the years 2002 and 2003. Overall, from 2007 to 2024, the guideline value has increased by 38%.

Guideline values in Orakadu & Kiruthalapuram

In Orakadu & Kiruthalapuram, there are 34 streets under the Redhills SRO that carry a 2024 guideline value ranging from Rs 275 to Rs 900 per sq.ft, with a median value of Rs 385 per sq.ft. Kakkanji Street's current value is below this median.

• Kalaignar Street: Rs 385 per sq.ft (2024)
• Kambar Street: Rs 385 per sq.ft (2024)
• Infinity Industrial And Logistics Park: Rs 351 per sq.ft (2024)
• Kirudhalapuram Pradhana Salai: Rs 385 per sq.ft (2024)
• Gomathiamman Nagar Anex- XI: Rs 275 per sq.ft (2024)
• Kulakkarai Street: Rs 275 per sq.ft (2024)

Stamp duty and registration fee for property in Kakkanji Street

For a 1,000 sq.ft plot at the current rate of Rs 275 per sq.ft, the guideline value would be Rs 2,75,000. The stamp duty at 7% would be Rs 19,250, and the registration fee at 2% would be Rs 5,500, totaling Rs 24,750. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kakkanji Street?

The Sub Registrar Office that covers Kakkanji Street is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for further assistance.

How the guideline value is used when you buy or sell in Orakadu & Kiruthalapuram

The guideline value is a critical factor in the registration process when buying or selling property in Orakadu & Kiruthalapuram. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is registered, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Kakkanji Street?

The current guideline value of Kakkanji Street is Rs 275 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 2007 to Rs 275 per sq.ft in 2024, reflecting various increases and one decrease over the years.

What are the other streets in Orakadu & Kiruthalapuram with their guideline values?

Other streets in Orakadu & Kiruthalapuram include Kalaignar Street and Kambar Street at Rs 385 per sq.ft, and Gomathiamman Nagar Anex- XI and Kulakkarai Street at Rs 275 per sq.ft, among others.

What fees are associated with buying property on Kakkanji Street?

When buying property on Kakkanji Street, the stamp duty is 7% of the guideline value, and the registration fee is 2%. These fees are calculated based on the higher of the guideline value or the sale price.

Which office handles property registrations for Kakkanji Street?

The Redhills Sub Registrar Office handles property registrations for Kakkanji Street, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.