Guideline Value for KAMALA NAGAR

Kamala Nagar guideline value

The current guideline value of Kamala Nagar, located in Minjur village under the Ponneri SRO, is Rs 1,320 per sq.ft, effective from 1 July 2024. This area is classified as Residential Special Type - I.

How the guideline value of Kamala Nagar has changed

The guideline value for Kamala Nagar has seen several revisions over the years. The 2017 revision set the value at Rs 804 per sq.ft, which was then increased to Rs 1,200 per sq.ft in the 2023 revision. The most recent revision in 2024 has further raised the value to Rs 1,320 per sq.ft, marking a 10% increase from the previous year. Notably, there are no figures available for the years 2002, 2003, 2007, and 2012 for this street.

From 2017 to 2023, the guideline value increased by 49%, and overall, from 2017 to 2024, it has risen by 64%. This shows a significant upward trend in the guideline value over the past few years.

Guideline values in Minjur

In Minjur, there are 179 streets under the Ponneri SRO that carry a 2024 guideline value ranging from Rs 440 to Rs 1,320 per sq.ft, with a median value of Rs 550 per sq.ft. The guideline value for Kamala Nagar is above this median, reflecting its higher valuation.

• Kamadhenu Nagar: Rs 550 per sq.ft (2024)
• Kalyanasundharam Street: Rs 550 per sq.ft (2024)
• Kalancheri Salai: Rs 880 per sq.ft (2024)
• Kalaignar Nagar: Rs 550 per sq.ft (2024)
• Kakkanji Colony: Rs 550 per sq.ft (2024)
• Kanagadurgambal Nagar: Rs 550 per sq.ft (2024)

Stamp duty and registration fee for property in Kamala Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft, the total guideline value would be Rs 13,20,000. The stamp duty at 7% would amount to Rs 92,400, and the registration fee at 2% would be Rs 26,400, bringing the total fees together to Rs 1,18,800. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kamala Nagar?

The Sub Registrar Office that covers Kamala Nagar is the Ponneri Sub Registrar Office, located at 9/5, Taluk Office Road, Ponneri, Chennai-601204. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Minjur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is registered, the authorities will assess the guideline value to ensure that the correct fees are collected. This value helps in maintaining transparency and standardization in property transactions within the region.

Frequently asked questions

What is the current guideline value of Kamala Nagar?

The current guideline value of Kamala Nagar is Rs 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 804 per sq.ft in 2017 to Rs 1,320 per sq.ft in 2024, reflecting a total increase of 64% over this period.

What are the stamp duty and registration fees for properties in Kamala Nagar?

The stamp duty is charged at 7% and the registration fee at 2% of the guideline value or sale price, whichever is higher. For example, a 1,000 sq.ft plot would incur a total fee of Rs 1,18,800 based on the current guideline value.

Which office handles property registration for Kamala Nagar?

The Ponneri Sub Registrar Office handles property registration for Kamala Nagar, located at 9/5, Taluk Office Road, Ponneri, Chennai-601204.

What is the land classification for Kamala Nagar?

Kamala Nagar is classified as Residential Special Type - I, indicating its designated use for residential purposes.