Guideline Value for KAMADHENU AVENUE - I

Kamadhenu Avenue - I guideline value

The current guideline value of Kamadhenu Avenue - I is Rs 1,540 per sq.ft, effective from 1 July 2024. This street is located in Melpakkam village, under the Kunrathur SRO, and is classified as Mixed Type - I land.

How the guideline value of Kamadhenu Avenue - I has changed

The guideline value for Kamadhenu Avenue - I has undergone several revisions over the years. The oldest recorded figure is from the 2017 revision, which was Rs 938 per sq.ft. This figure increased to Rs 1,400 per sq.ft in the 2023 revision, marking a significant rise of 49%. The most recent revision in 2024 saw the guideline value increase further to Rs 1,540 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. It is important to note that there are no recorded figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Melpakkam

In Melpakkam, there are 17 streets under the Kunrathur SRO that carry a guideline value for 2024, ranging from Rs 440 to Rs 4,105 per sq.ft. The median value among these streets is Rs 1,540 per sq.ft, which is equal to the guideline value of Kamadhenu Avenue - I.

• Kamadhenu Avenue - II: Rs 1,540 per sq.ft (2024)
• Kamathenu Nagar Extension: Rs 1,650 per sq.ft (2024)
• Nakshatra Garden: Rs 4,105 per sq.ft (2024)
• Ashok Nandhavanam: Rs 1,540 per sq.ft (2024)
• Perumal Koil Street: Rs 440 per sq.ft (2024)
• Royal Assets: Rs 2,530 per sq.ft (2024)

Stamp duty and registration fee for property in Kamadhenu Avenue - I

For a 1,000 sq.ft plot at the current guideline value of Rs 1,540 per sq.ft, the total guideline value amounts to Rs 15,40,000. The stamp duty at 7% would be Rs 1,07,800, and the registration fee at 2% would be Rs 30,800, making the total cost for these fees Rs 1,38,600. It is important to note that 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 Kamadhenu Avenue - I?

The Sub Registrar Office that covers Kamadhenu Avenue - I is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. For more details, you can find your SRO.

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

The guideline value plays a crucial role during the registration process of property transactions in Melpakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, it is essential to be aware of the guideline value, as it directly impacts the costs associated with the transaction. Buyers should ensure that the sale price is not lower than the guideline value to avoid any legal complications during registration.

Frequently asked questions

What is the current guideline value of Kamadhenu Avenue - I?

The current guideline value of Kamadhenu Avenue - I is Rs 1,540 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 938 per sq.ft in 2017 to Rs 1,540 per sq.ft in 2024, marking an overall increase of 64% over these years.

What is the stamp duty rate for properties in Kamadhenu Avenue - I?

The stamp duty rate for properties in Kamadhenu Avenue - I is 7% of the guideline value or the sale price, whichever is higher.

Which office handles property registrations for Kamadhenu Avenue - I?

The Kunrathur Sub Registrar Office handles property registrations for Kamadhenu Avenue - I, located at No.59, Road Street, Kundrathur, Chennai -600 069.

Are there other streets in Melpakkam with similar guideline values?

Yes, there are several other streets in Melpakkam with guideline values similar to Kamadhenu Avenue - I, including Kamadhenu Avenue - II and Ashok Nandhavanam, both valued at Rs 1,540 per sq.ft in 2024.