Guideline Value for KAMATCHI NAGAR

Kamatchi Nagar guideline value

The current guideline value for Kamatchi Nagar, located in Puliyur village under the Kodambakkam SRO, is Rs 5,000 per sq.ft, effective from 1 July 2024. This area falls under Residential Class III Type - I land classification.

How the guideline value of Kamatchi Nagar has changed

The guideline value for Kamatchi Nagar has seen significant changes over the years. In 2002, the guideline value was Rs 605 per sq.ft. This increased to Rs 665 per sq.ft in 2003, marking a 10% rise. The value then rose to Rs 1,200 per sq.ft in 2007, reflecting an 80% increase. Following this, the value reached Rs 4,600 per sq.ft in 2012, which was a 283% increase from the previous revision. However, there was a decline of 33% to Rs 3,082 per sq.ft in 2017. The guideline value further increased to Rs 4,600 per sq.ft in 2023, representing a 49% rise, before reaching the current figure of Rs 5,000 per sq.ft in 2024, which is a 9% increase.

There are no figures available for the revisions in the years not mentioned in the register for this street.

Guideline values in Puliyur

In Puliyur, there are 648 streets under the Kodambakkam SRO that carry a 2024 guideline value ranging from Rs 3,300 to Rs 14,300 per sq.ft, with a median value of Rs 5,800 per sq.ft. The guideline value for Kamatchi Nagar is below this median.

• Kamatchiamman Colony 2nd Street: Rs 5,300 per sq.ft (2024)
• Kamatchiamman Colony 1st Street: Rs 5,300 per sq.ft (2024)
• Kamaraj Street: Rs 3,800 per sq.ft (2024)
• Kamaraj Nagar Extension: Rs 5,300 per sq.ft (2024)
• Kamaraj Nagar 4th Street: Rs 5,300 per sq.ft (2024)
• Kamaraj Nagar 3rd Street: Rs 5,300 per sq.ft (2024)

Stamp duty and registration fee for property in Kamatchi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 5,000 per sq.ft, the total guideline value amounts to Rs 50,00,000. The stamp duty at 7% would be Rs 3,50,000, and the registration fee at 2% would be Rs 1,00,000, bringing the total cost for these fees to Rs 4,50,000. It is important to note that 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 Kamatchi Nagar?

The Sub Registrar Office that covers Kamatchi Nagar is the Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026. You can find your SRO for further assistance.

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

The guideline value is a crucial factor when registering property transactions in Puliyur. It serves as a benchmark for determining the applicable stamp duty and registration fees during the sale or purchase of property. Buyers and sellers must be aware of the current guideline value to ensure accurate financial planning.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory costs that must be settled at the time of registration. It is essential to verify the guideline value to avoid any discrepancies during the transaction process.

Frequently asked questions

What is the current guideline value for Kamatchi Nagar?

The current guideline value for Kamatchi Nagar is Rs 5,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 605 per sq.ft in 2002 to Rs 5,000 per sq.ft in 2024, reflecting an overall increase of 726% over the years.

What is the land classification for Kamatchi Nagar?

Kamatchi Nagar is classified as Residential Class III Type - I, indicating its designation for residential purposes.

Where can I find the Kodambakkam Sub Registrar Office?

The Kodambakkam Sub Registrar Office is located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026.

How is the stamp duty calculated for properties in Kamatchi Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 50,00,000, the stamp duty at 7% would be Rs 3,50,000.