Guideline Value for East kamakodi Nagar 2nd Street

East kamakodi Nagar 2nd Street guideline value

The current guideline value of East kamakodi Nagar 2nd Street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Valasaravakkam village, under the Virugambakkam SRO, and is classified as Residential Class I Type - II.

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

The guideline value for East kamakodi Nagar 2nd 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 change of +9%. The value then rose to Rs 650 per sq.ft in 2007, reflecting an increase of +27%. A significant jump occurred in 2012, bringing the value to Rs 4,000 per sq.ft, a rise of +515% from the previous revision. The value remained at Rs 4,000 per sq.ft until 2023.

In 2023, the guideline value was revised to Rs 4,000 per sq.ft, and then increased to Rs 4,400 per sq.ft in 2024, representing a change of +10%. Notably, there is no figure for this street in the 2017 revision. Overall, from 2002 to 2024, the guideline value has increased by +832%.

Guideline values in Valasaravakkam

In Valasaravakkam, there are 774 streets under the Virugambakkam SRO, with guideline values ranging from Rs 2,750 to Rs 8,800 per sq.ft. The median guideline value for these streets is Rs 3,850 per sq.ft, indicating that East kamakodi Nagar 2nd Street's 2024 figure of Rs 4,400 per sq.ft is above this median.

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

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value would be Rs 44,00,000. The stamp duty at 7% would amount to Rs 3,08,000, while the registration fee at 2% would be Rs 88,000. Together, these fees total Rs 3,96,000. It is important to note that 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 East kamakodi Nagar 2nd Street?

The Sub Registrar Office that covers East kamakodi Nagar 2nd 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

When buying or selling property in Valasaravakkam, the guideline value serves as a reference point for determining stamp duty and registration fees. These fees are calculated based on the guideline value or the sale price, whichever is higher, ensuring that the government receives appropriate revenue from property transactions.

It is essential for buyers and sellers to be aware of the guideline value as it can significantly impact the overall cost of the transaction. Understanding the guideline value helps in budgeting for additional costs associated with property registration.

Frequently asked questions

What is the current guideline value of East kamakodi Nagar 2nd Street?

The current guideline value of East kamakodi Nagar 2nd 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 increased from Rs 472 per sq.ft in 2002 to Rs 4,400 per sq.ft in 2024, marking an overall increase of +832% over the years.

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

East kamakodi Nagar 2nd Street is classified as Residential Class I Type - II.

Where can I find the Sub Registrar Office for East kamakodi Nagar 2nd Street?

The Sub Registrar Office for East kamakodi Nagar 2nd Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

How is the stamp duty calculated for properties in East kamakodi Nagar 2nd Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 3,08,000.