Guideline Value for KAMATCHI NAGAR 2ND STREET

Kamatchi Nagar 2nd Street guideline value

The current guideline value of Kamatchi Nagar 2nd Street is Rs 1,210 per sq.ft, effective from 1 July 2024. This street is located in Sivabootham village, under the Chennai South Joint I SRO, and is classified as Residential Class III Type - I.

How the guideline value of Kamatchi Nagar 2nd Street has changed

The guideline value for Kamatchi Nagar 2nd Street has undergone several revisions over the years. The 2012 revision set the value at Rs 1,100 per sq.ft, which was followed by a decrease to Rs 737 per sq.ft in the 2017 revision. However, from 2017 to 2023, the value increased significantly to Rs 1,100 per sq.ft, and the latest revision in 2024 raised it further to Rs 1,210 per sq.ft, reflecting a 10% increase from the previous year.

There are no figures available for the revisions in 2002, 2003, and 2007 for Kamatchi Nagar 2nd Street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Sivabootham

In Sivabootham, there are 39 streets under the Chennai South Joint I SRO that carry a guideline value for 2024, ranging from Rs 1,120 to Rs 3,300 per sq.ft, with a median value of Rs 1,650 per sq.ft. The guideline value of Kamatchi Nagar 2nd Street is below this median.

• Kamatchi Nagar 1st Street: Rs 1,210 per sq.ft (2024)
• Kamatchi Nagar 3rd Street: Rs 1,210 per sq.ft (2024)
• Kamatchi Nagar: Rs 1,210 per sq.ft (2024)
• Kamatchi Nagar Bharathi Salai: Rs 1,210 per sq.ft (2024)
• Karunya Nagar: Rs 1,130 per sq.ft (2024)
• Indira Nagar: Rs 1,120 per sq.ft (2024)

Stamp duty and registration fee for property in Kamatchi Nagar 2nd Street

For a 1,000 sq.ft plot at the current rate, the guideline value amounts to Rs 12,10,000. The stamp duty at 7% would be Rs 84,700, and the registration fee at 2% would be Rs 24,200, resulting in a total of Rs 1,08,900. It is important to note that duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kamatchi Nagar 2nd Street?

The Sub Registrar Office that covers Kamatchi Nagar 2nd Street 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 more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Sivabootham. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is documented accurately.

When a property is sold, the guideline value is used to calculate the applicable stamp duty and registration fees. Buyers should be aware that these fees are based on the higher of the guideline value or the actual sale price, which can affect the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Kamatchi Nagar 2nd Street?

The current guideline value of Kamatchi Nagar 2nd Street is Rs 1,210 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,100 per sq.ft in 2012 to Rs 737 per sq.ft in 2017, then increased to Rs 1,100 per sq.ft in 2023, and finally to Rs 1,210 per sq.ft in 2024.

What are the stamp duty and registration fees for a property in Kamatchi Nagar 2nd Street?

For a property valued at Rs 12,10,000, the stamp duty would be Rs 84,700, and the registration fee would be Rs 24,200, totaling Rs 1,08,900.

Which Sub Registrar Office covers Kamatchi Nagar 2nd Street?

The Chennai South Joint I Sub Registrar Office covers Kamatchi Nagar 2nd Street, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.

What is the land classification of Kamatchi Nagar 2nd Street?

Kamatchi Nagar 2nd Street is classified as Residential Class III Type - I, indicating its designation for residential use.