Guideline Value for KAMATCHI NAGAR MAIN ROD

Kamatchi Nagar Main Rod guideline value

The current guideline value of Kamatchi Nagar Main Rod is Rs 1,980 per sq.ft, effective from 1 July 2024. This street is located in Iyyappanthangal village and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Class III Type - I.

How the guideline value of Kamatchi Nagar Main Rod has changed

The guideline value for Kamatchi Nagar Main Rod has seen several revisions over the years. The 2012 revision set the value at Rs 1,800 per sq.ft, which was a decrease of 33% from the Rs 1,206 per sq.ft recorded in the 2017 revision. The value remained at Rs 1,800 per sq.ft until the 2023 revision, which increased it to Rs 1,800 per sq.ft. The most recent revision in 2024 has increased the guideline value to Rs 1,980 per sq.ft, marking a 10% increase from the previous year.

In summary, the changes between the revisions are as follows: from 2012 to 2017, the value dropped by 33%, then rose by 49% from 2017 to 2023, and finally increased by 10% from 2023 to 2024. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Iyyappanthangal

Iyyappanthangal has a total of 134 streets under the Chennai South Joint I SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 5,610 per sq.ft, with a median value of Rs 2,200 per sq.ft. Kamatchi Nagar Main Rod's 2024 figure is below this median.

• Kamatchi Nagar Koil Street: Rs 1,980 per sq.ft (2024)
• Kamatchi Nagar Ist Street: Rs 1,980 per sq.ft (2024)
• Kamatchi Nagar 4th Street: Rs 1,980 per sq.ft (2024)
• Kamatchi Nagar 3rd Street: Rs 1,980 per sq.ft (2024)
• Kamatchi Nagar 2nd Street: Rs 1,980 per sq.ft (2024)
• Kamatchi Nagar: Rs 1,980 per sq.ft (2024)

Stamp duty and registration fee for property in Kamatchi Nagar Main Rod

For a 1,000 sq.ft plot at the current guideline value of Rs 1,980 per sq.ft, the total guideline value would be Rs 19,80,000. The stamp duty at 7% would amount to Rs 1,38,600, while the registration fee at 2% would be Rs 39,600, bringing the total to Rs 1,78,200. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kamatchi Nagar Main Rod?

The Sub Registrar Office that covers Kamatchi Nagar Main Rod 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 Iyyappanthangal

The guideline value is a critical factor during property registration in Iyyappanthangal. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when a property is bought or sold. Buyers and sellers must be aware of the current guideline value to ensure compliance with legal requirements.

When registering a property, 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 both the government and the parties involved in the transaction are protected from undervaluation.

Frequently asked questions

What is the current guideline value of Kamatchi Nagar Main Rod?

The current guideline value of Kamatchi Nagar Main Rod is Rs 1,980 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,800 per sq.ft in 2012 to Rs 1,206 per sq.ft in 2017, then increased to Rs 1,800 per sq.ft in 2023, and finally to Rs 1,980 per sq.ft in 2024.

What is the land classification for Kamatchi Nagar Main Rod?

The land classification for Kamatchi Nagar Main Rod is Residential Class III Type - I.

Where can I find the Sub Registrar Office for Kamatchi Nagar Main Rod?

The Sub Registrar Office for Kamatchi Nagar Main Rod 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.

How is the stamp duty calculated for properties in Iyyappanthangal?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 19,80,000, the stamp duty at 7% would be Rs 1,38,600.