Guideline Value for KAMALA NAGAR

Kamala Nagar guideline value

The current guideline value of Kamala Nagar, located in Korattur village under the Villivakkam SRO, is Rs 1,600 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Class III Type - III.

How the guideline value of Kamala Nagar has changed

The guideline value for Kamala Nagar has undergone several revisions over the years. In the 2012 revision, the value was set at Rs 1,500 per sq.ft. This was followed by a decrease to Rs 1,005 per sq.ft in the 2017 revision, marking a decline of 33%. However, in the latest 2024 revision, the guideline value increased significantly to Rs 1,600 per sq.ft, representing a 59% rise from the 2017 figure.

Overall, comparing the 2012 and 2024 revisions, the guideline value has seen a modest increase of 7%. It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2023 for this street.

Guideline values in Korattur

In Korattur village, there are 617 streets under the Villivakkam SRO with a 2024 guideline value ranging from Rs 1,100 to Rs 8,200 per sq.ft. The median value for these streets is Rs 2,500 per sq.ft, placing Kamala Nagar's 2024 figure below this median.

• Kallikuppam Pilliyar Koil Street (North): Rs 2,100 per sq.ft (2024)
• Kallikuppam Pillaiyar Koil Street: Rs 2,100 per sq.ft (2024)
• Kallikuppam Perumal Koil Street: Rs 2,100 per sq.ft (2024)
• Kallikuppam Padasalai Street (School Street): Rs 2,100 per sq.ft (2024)
• Kallikuppam Murugambedu Road: Rs 1,600 per sq.ft (2024)
• Kamaraj Nagar Extension (All Street's): 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 1,600 per sq.ft, the total guideline value amounts to Rs 16,00,000. The stamp duty at 7% would be Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, bringing the total to Rs 1,44,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more information on calculating fees, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kamala Nagar?

The Sub Registrar Office that covers Kamala Nagar is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near Nolambur Eb Office. You can find your SRO for more details.

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

The guideline value plays a crucial role in property transactions in Korattur. It is used to determine the stamp duty and registration fees payable at the time of property registration. Buyers and sellers must consider this value to ensure compliance with local regulations.

When a property is sold, the guideline value is compared to the sale price, and the higher amount is used to calculate the applicable duties and fees. This ensures that the government receives the correct revenue from property transactions.

Frequently asked questions

What is the current guideline value of Kamala Nagar?

The current guideline value of Kamala Nagar is Rs 1,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Over the years, the guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, and then increased to Rs 1,600 per sq.ft in 2024.

What is the land classification for Kamala Nagar?

The land classification for Kamala Nagar is Residential Class III Type - III.

Where can I find the registration office for Kamala Nagar?

The registration office for Kamala Nagar is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How is stamp duty calculated for properties in Kamala Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 16,00,000 would incur a stamp duty of Rs 1,12,000 at a rate of 7%.