Guideline Value for KAMADHENU NAGAR

Kamadhenu Nagar guideline value

The current guideline value of Kamadhenu Nagar is Rs 1,660 per sq.ft, effective from 1 July 2024. This area is located in Vanagaram village, under the Chennai South Joint I SRO, and is classified as Residential Class III Type - I.

How the guideline value of Kamadhenu Nagar has changed

The guideline value of Kamadhenu Nagar has seen several revisions over the years. In 2002, the value was Rs 188 per sq.ft, which increased to Rs 216 per sq.ft in 2003, marking a 15% rise. The value then saw a significant jump to Rs 500 per sq.ft in 2007, reflecting a 131% increase. By 2012, the value rose to Rs 1,500 per sq.ft, resulting in a 200% increase from the previous revision. However, in 2017, it dropped to Rs 1,005 per sq.ft, a decrease of 33%. The value increased again to Rs 1,500 per sq.ft in 2023, and finally reached the current figure of Rs 1,660 per sq.ft in 2024, which is an increase of 11% from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 783%. The revisions for the years not mentioned in the list do not have figures for this street.

Guideline values in Vanagaram

In Vanagaram, there are 287 streets under the Chennai South Joint I SRO that carry a 2024 guideline value ranging from Rs 770 to Rs 5,500 per sq.ft. The median guideline value is Rs 1,660 per sq.ft, which is the same as the current value for Kamadhenu Nagar.

• Kamadhenu Nagar 1st Street: Rs 1,660 per sq.ft (2024)
• Kamadhenu Nagar 2nd Street: Rs 1,660 per sq.ft (2024)
• Kamadhenu Nagar 3rd Street: Rs 1,660 per sq.ft (2024)
• Kamadhenu Nagar 4th Street: Rs 1,660 per sq.ft (2024)
• Kamadhenu Nagar 5th Street: Rs 1,660 per sq.ft (2024)
• Kamatchiamman Nagar: Rs 1,660 per sq.ft (2024)

Stamp duty and registration fee for property in Kamadhenu Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,660 per sq.ft, the total guideline value would be Rs 16,60,000. The stamp duty at 7% would amount to Rs 1,16,200, and the registration fee at 2% would be Rs 33,200, making the total cost for these fees Rs 1,49,400. 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 information.

Which Sub Registrar Office covers Kamadhenu Nagar?

The Sub Registrar Office that covers Kamadhenu Nagar is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for further assistance.

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

The guideline value is a crucial factor when buying or selling property in Vanagaram, as it determines the minimum value at which a property can be registered. Buyers must ensure that the sale price meets or exceeds the guideline value to comply with registration regulations.

During the registration process, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that the transaction is legally recognized and that all necessary taxes are paid based on the established guideline value.

Frequently asked questions

What is the current guideline value of Kamadhenu Nagar?

The current guideline value of Kamadhenu Nagar is Rs 1,660 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 188 per sq.ft in 2002 to Rs 1,660 per sq.ft in 2024, reflecting an overall increase of 783% over the years.

What is the registration office for Kamadhenu Nagar?

The registration office for Kamadhenu Nagar is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.

How is stamp duty calculated for properties in Kamadhenu Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 16,60,000 would incur a stamp duty of Rs 1,16,200 at a rate of 7%.

What does the land classification mean for Kamadhenu Nagar?

Kamadhenu Nagar is classified as Residential Class III Type - I, indicating its designation for residential use under the Chennai South Joint I SRO guidelines.