Guideline Value for Kokkan Street

Kokkan Street guideline value

The current guideline value of Kokkan Street in Ramapuram village is Rs 2,750 per sq.ft, effective from 1 July 2024. This street falls under the Chennai South Joint II SRO and is classified as Residential Class II Type - II.

How the guideline value of Kokkan Street has changed

The guideline value for Kokkan Street has seen several revisions over the years. In the 2012 revision, the value was set at Rs 2,500 per sq.ft. This figure decreased to Rs 1,675 per sq.ft in the 2017 revision, marking a decline of 33%. However, the value rebounded significantly in the 2023 revision to Rs 2,500 per sq.ft, and then increased by 10% to reach Rs 2,750 per sq.ft in the 2024 revision.

Prior to the 2012 revision, there are no figures available for the years 2002, 2003, and 2007 in the register for Kokkan Street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Ramapuram

In Ramapuram, there are 394 streets under the Chennai South Joint II SRO that carry a guideline value for 2024, ranging from Rs 1,950 to Rs 6,600 per sq.ft. The median guideline value in this area is Rs 3,100 per sq.ft, placing Kokkan Street's 2024 figure below that median.

• Kokila Garden (S.No.55/2): Rs 3,100 per sq.ft (2024)
• Kogila Garden Road: Rs 3,100 per sq.ft (2024)
• K.K. Ponnurangam Salai Cross Street: Rs 3,100 per sq.ft (2024)
• K.K.Ponnrangam Naicken Salai: Rs 3,550 per sq.ft (2024)
• Kothari Nagar & 1 To 5th Street: Rs 4,400 per sq.ft (2024)
• Kothari Nagar 1 to 9 Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Kokkan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value would be Rs 27,50,000. The stamp duty at 7% would amount to Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, bringing the total cost for these fees to Rs 2,47,500. 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 the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kokkan Street?

The Sub Registrar Office that covers Kokkan Street is the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035. You can find your SRO for more details.

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

When buying or selling property in Ramapuram, the guideline value serves as a reference point for determining the stamp duty and registration fees. The guideline value is set by the Registration Department and is updated periodically, reflecting the current market conditions.

It is essential for buyers and sellers to be aware of the guideline value, as it affects the overall cost of transactions. Accurate knowledge of these values ensures compliance with legal requirements during property registration.

Frequently asked questions

What is the current guideline value of Kokkan Street?

The current guideline value of Kokkan Street is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, then back to Rs 2,500 per sq.ft in 2023, and finally to Rs 2,750 per sq.ft in 2024.

What is the classification of Kokkan Street?

Kokkan Street is classified as Residential Class II Type - II under the Chennai South Joint II SRO.

Where can I find the Sub Registrar Office for Kokkan Street?

The Sub Registrar Office for Kokkan Street is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.

How is the stamp duty calculated for properties in Kokkan Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at Rs 2,750 per sq.ft would incur a total guideline value of Rs 27,50,000, leading to specific stamp duty and registration fees.