Guideline Value for KAMATCHI COLONY /NAGAR

Kamatchi Colony /Nagar guideline value

The current guideline value of Kamatchi Colony /Nagar is Rs 1,650 per sq.ft, effective from 1 July 2024. This area is located in Pallikaranai village and falls under the Chennai South Joint I SRO. The land classification for this locality is Residential Class IV Type - I.

How the guideline value of Kamatchi Colony /Nagar has changed

The guideline value for Kamatchi Colony /Nagar has seen several revisions over the years. The 2012 revision set the value at Rs 1,500 per sq.ft. This was followed by a decrease to Rs 1,005 per sq.ft in the 2017 revision, which marked a decline of 33%. However, the value rebounded significantly to Rs 1,500 per sq.ft in the 2023 revision, and then further increased to Rs 1,650 per sq.ft in the 2024 revision, reflecting a 10% rise.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Pallikaranai

Pallikaranai village comprises 749 streets under the Chennai South Joint I SRO, with a 2024 guideline value range from Rs 1,110 to Rs 8,580 per sq.ft. The median value for these streets is Rs 1,650 per sq.ft, which is equal to the guideline value of Kamatchi Colony /Nagar.

• Kamatchiamman Nagar Main Road: Rs 1,650 per sq.ft (2024)
• Kamatchiamman Nagar 4th Street: Rs 1,650 per sq.ft (2024)
• Kamatchiamman Nagar 3rd Street: Rs 1,650 per sq.ft (2024)
• Kamatchiamman Nagar 2nd Street: Rs 1,650 per sq.ft (2024)
• Kamatchiamman Nagar 1st Street: Rs 1,650 per sq.ft (2024)
• Kamatchiamman Nagar: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Kamatchi Colony /Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value would be Rs 16,50,000. The stamp duty at 7% would amount to Rs 1,15,500, while the registration fee at 2% would be Rs 33,000, bringing the total to Rs 1,48,500. It is important to note that duty is charged on the higher of the guideline value or the sale price. You can also use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kamatchi Colony /Nagar?

The Sub Registrar Office that covers Kamatchi Colony /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 additional information.

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

The guideline value is a crucial factor during the registration of property transactions in Pallikaranai. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring transparency in property dealings.

When buying or selling property, the guideline value helps in calculating the applicable stamp duty and registration fees, which are essential components of the transaction process. This ensures that both buyers and sellers are aware of the financial obligations involved when transferring property ownership.

Frequently asked questions

What is the current guideline value of Kamatchi Colony /Nagar?

The current guideline value of Kamatchi Colony /Nagar is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012, decreased to Rs 1,005 per sq.ft in 2017, then increased to Rs 1,500 per sq.ft in 2023, and is now Rs 1,650 per sq.ft in 2024.

What is the registration office for Kamatchi Colony /Nagar?

The registration office for Kamatchi Colony /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.

What are the stamp duty and registration fees for a property in Kamatchi Colony /Nagar?

For a property valued at Rs 16,50,000, the stamp duty would be Rs 1,15,500 and the registration fee would be Rs 33,000, totaling Rs 1,48,500.

What is the land classification for Kamatchi Colony /Nagar?

The land classification for Kamatchi Colony /Nagar is Residential Class IV Type - I.