Guideline Value for KAMALA NAGAR

Kamala Nagar guideline value

The current guideline value of Kamala 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 Kamala Nagar has changed

The guideline value for Kamala Nagar has seen significant changes over the years. In 2002, the guideline value was Rs 172 per sq.ft, which increased to Rs 308 per sq.ft in 2003, marking a rise of 79%. By 2007, the value surged to Rs 600 per sq.ft, reflecting a 95% increase. The 2012 revision saw a substantial jump to Rs 3,000 per sq.ft, a 400% increase from the previous figure. However, in 2017, the value decreased to Rs 2,010 per sq.ft, representing a decline of 33%.

In 2023, the guideline value rose again to Rs 3,000 per sq.ft, and in the latest 2024 revision, it increased by 10% to reach Rs 3,300 per sq.ft. Overall, from 2002 to 2024, the guideline value has increased by 1,819%.

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 guideline value for these streets is Rs 3,300 per sq.ft, which matches the current value for Kamala Nagar.

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

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to 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 costs together to Rs 2,97,000. 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 details.

Which Sub Registrar Office covers Kamala Nagar?

The Sub Registrar Office that covers Kamala 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 a reference point for determining the stamp duty and registration fees that need to be paid during the transaction.

When registering a property, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the correct revenue based on the property's value.

Frequently asked questions

What is the current guideline value of Kamala Nagar?

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

How much has the guideline value changed over the years?

The guideline value has changed significantly from Rs 172 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, marking an overall increase of 1,819%.

What is the land classification of Kamala Nagar?

Kamala Nagar is classified as Residential Special Type - I according to the local land classification.

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

For a 1,000 sq.ft plot, the total guideline value is Rs 33,00,000, with stamp duty at Rs 2,31,000 and registration fees at Rs 66,000, totaling Rs 2,97,000.

Where is the Sub Registrar Office for Kamala Nagar located?

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