Guideline Value for DEVI KAMATCHI NAGAR

Devi Kamatchi Nagar guideline value

The current guideline value for Devi Kamatchi Nagar is Rs 1,300 per sq.ft, effective from 1 July 2024. This area is located in Madurabakkam village under the Selaiyur SRO, classified as Residential Class II Type - I.

How the guideline value of Devi Kamatchi Nagar has changed

The guideline value for Devi Kamatchi Nagar has seen several revisions over the years. The 2012 revision set the value at Rs 1,200 per sq.ft, which then decreased to Rs 804 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 1,200 per sq.ft in 2023, and then further rose to Rs 1,300 per sq.ft in the 2024 revision. There are no figures available for the years 2002, 2003, and 2007 in the register for this street.

From 2012 to 2017, the value decreased by 33%. However, from 2017 to 2023, there was a substantial increase of 49%. The overall change from the 2012 revision to the current 2024 revision shows an increase of 8%.

Guideline values in Madurabakkam

In Madurabakkam, there are 23 streets under the Selaiyur SRO that have a 2024 guideline value ranging from Rs 1,100 to Rs 2,700 per sq.ft, with a median value of Rs 1,600 per sq.ft. Devi Kamatchi Nagar's 2024 figure is below this median.

• Dharani Nagar: Rs 1,600 per sq.ft (2024)
• Dr.RAGINI CITY: Rs 1,600 per sq.ft (2024)
• Green Castle Avenue: Rs 1,600 per sq.ft (2024)
• Arivalayam Street: Rs 1,600 per sq.ft (2024)
• Amogha: Rs 2,200 per sq.ft (2024)
• Kamatchi Nagar: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Devi Kamatchi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value would be Rs 13,00,000. The stamp duty at 7% would amount to Rs 91,000, and the registration fee at 2% would be Rs 26,000, totaling Rs 1,17,000. It is important to note that the 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 details.

Which Sub Registrar Office covers Devi Kamatchi Nagar?

The Sub Registrar Office that covers Devi Kamatchi Nagar is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Madurabakkam. It is used to determine the stamp duty and registration fees that need to be paid at the time of property registration.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair value, which helps in maintaining transparency in real estate transactions. It is essential for buyers and sellers to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Devi Kamatchi Nagar?

The current guideline value of Devi Kamatchi Nagar is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, then back to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,300 per sq.ft in 2024.

What is the stamp duty for property in Devi Kamatchi Nagar?

The stamp duty for property in Devi Kamatchi Nagar is 7% of the guideline value or sale price, whichever is higher. For a 1,000 sq.ft plot, the stamp duty would be Rs 91,000 based on the current guideline value.

Where is the Selaiyur Sub Registrar Office located?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.

What is the land classification of Devi Kamatchi Nagar?

Devi Kamatchi Nagar is classified as Residential Class II Type - I, which indicates its designation for residential purposes.