Guideline Value for East Kamakodi Nagar 2nd Cross Street

East Kamakodi Nagar 2nd Cross Street guideline value

The current guideline value of East Kamakodi Nagar 2nd Cross Street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Valasaravakkam village and falls under the Virugambakkam SRO. The land classification for this area is Residential Class I Type - II.

How the guideline value of East Kamakodi Nagar 2nd Cross Street has changed

The guideline value for East Kamakodi Nagar 2nd Cross Street has seen several revisions over the years. In 2002, the value was Rs 472 per sq.ft, which increased to Rs 513 per sq.ft in 2003, marking a 9% rise. The value further increased by 27% to Rs 650 per sq.ft in 2007. Following that, there was a significant jump of 515%, bringing the value to Rs 4,000 per sq.ft in 2012. However, the value then dropped by 33% to Rs 2,680 per sq.ft in 2017. The most recent revision in 2024 saw a 64% increase, setting the current guideline value at Rs 4,400 per sq.ft.

It is important to note that there is no figure available for the year 2023 for this street in the register.

Guideline values in Valasaravakkam

In Valasaravakkam, there are a total of 774 streets under the Virugambakkam SRO that carry a 2024 guideline value, ranging from Rs 2,750 to Rs 8,800 per sq.ft. The median value for these streets is Rs 3,850 per sq.ft, indicating that East Kamakodi Nagar 2nd Cross Street's 2024 figure is above this median.

• East Kamakodi Nagar 1st Street: Rs 4,400 per sq.ft (2024)
• East Kamakodi Nagar 2nd Street: Rs 4,400 per sq.ft (2024)
• East Kamakodi Nagar 1st Cross Street: Rs 4,400 per sq.ft (2024)
• East Kamakodi Nagar 3rd Cross Street: Rs 4,400 per sq.ft (2024)
• East Kamakodi Nagar 3rd Street: Rs 4,400 per sq.ft (2024)
• East Kamakodi Nagar 4th Cross Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in East Kamakodi Nagar 2nd Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value amounts to Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, making the total cost for these fees Rs 3,96,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers East Kamakodi Nagar 2nd Cross Street?

The Sub Registrar Office that covers East Kamakodi Nagar 2nd Cross Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration of property transactions in Valasaravakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the sale or purchase of property.

When buying or selling property, the guideline value ensures that the transaction is recorded at a standard value, which helps in maintaining transparency and consistency in property dealings. 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 East Kamakodi Nagar 2nd Cross Street?

The current guideline value of East Kamakodi Nagar 2nd Cross Street is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 472 per sq.ft in 2002 to Rs 4,400 per sq.ft in 2024, reflecting an overall increase of 832% over the years.

What is the land classification for East Kamakodi Nagar 2nd Cross Street?

The land classification for East Kamakodi Nagar 2nd Cross Street is Residential Class I Type - II.

Where can I find the Sub Registrar Office for this area?

The Virugambakkam Sub Registrar Office covers East Kamakodi Nagar 2nd Cross Street, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

How is the stamp duty calculated for property in this area?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a property with a guideline value of Rs 44,00,000 would incur a stamp duty of Rs 3,08,000 at 7%.