Guideline Value for KAMADEVAN NAGAR

Kamadevan Nagar guideline value

The current guideline value of Kamadevan Nagar is Rs 3,300 per sq.ft, effective from 1 July 2024. This area is located in Thiruvottiyur village, under the Thiruvottiyur SRO, and is classified as Residential Special Type - I.

How the guideline value of Kamadevan Nagar has changed

The guideline value of Kamadevan Nagar has seen several revisions over the years. In 2007, the guideline value was Rs 500 per sq.ft, which increased significantly to Rs 3,000 per sq.ft in 2012. However, it then decreased to Rs 2,010 per sq.ft in 2017. The value rose again to Rs 3,000 per sq.ft in 2023, and currently stands at Rs 3,300 per sq.ft following the 2024 revision. The changes between these revisions include a 500% increase from 2007 to 2012, a 33% decrease from 2012 to 2017, a 49% increase from 2017 to 2023, and a 10% increase from 2023 to 2024.

It is important to note that there are no figures available for the revisions in 2002 and 2003 for this street.

Guideline values in Thiruvottiyur

In Thiruvottiyur, there are 177 streets under the Thiruvottiyur SRO that carry a 2024 guideline value, ranging from Rs 1,300 to Rs 8,600 per sq.ft. The median value is Rs 3,300 per sq.ft, which is equal to the current guideline value of Kamadevan Nagar.

• Kalyani Chetty Nagar: Rs 3,300 per sq.ft (2024)
• Kamala Nagar: Rs 3,300 per sq.ft (2024)
• Kalaivanar Nagar: Rs 1,500 per sq.ft (2024)
• Kamaraj Nagar: Rs 2,400 per sq.ft (2024)
• Kakkan Street: Rs 3,300 per sq.ft (2024)
• Kailash Sector: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Kamadevan Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kamadevan Nagar?

The Sub Registrar Office that covers Kamadevan Nagar is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Thiruvottiyur. It serves as the basis for calculating stamp duty and registration fees, which are mandatory for property transactions.

When a property is sold, the buyer must pay the applicable stamp duty based on the higher of the guideline value or the sale price. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Kamadevan Nagar?

The current guideline value of Kamadevan Nagar is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 500 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, with various increases and decreases in between, including a significant increase of 500% from 2007 to 2012.

What is the stamp duty for property in Kamadevan Nagar?

The stamp duty for property in Kamadevan Nagar is 7% of the guideline value or sale price, whichever is higher. For example, on a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000.

Where is the Thiruvottiyur Sub Registrar Office located?

The Thiruvottiyur Sub Registrar Office is located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.

What land classification does Kamadevan Nagar fall under?

Kamadevan Nagar is classified as Residential Special Type - I, which indicates its suitability for residential development under the guidelines set by the local authorities.