Guideline Value for KAMATCHI NAGAR

Kamatchi Nagar guideline value

The current guideline value of Kamatchi Nagar, located in Sivabootham village under the Chennai South Joint I SRO, is Rs 1,210 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class III Type - I land classification.

How the guideline value of Kamatchi Nagar has changed

The guideline value for Kamatchi Nagar has seen several revisions over the years. The 2012 revision set the value at Rs 1,100 per sq.ft, which was a decrease of 33% from the 2017 revision of Rs 737 per sq.ft. However, the value increased to Rs 1,100 per sq.ft again in 2012. The next revision in 2017 raised the value significantly to Rs 1,100 per sq.ft, and the 2023 revision further increased it to Rs 1,100 per sq.ft. The current revision in 2024 shows an increase of 10% to Rs 1,210 per sq.ft.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Sivabootham

Sivabootham village has a total of 39 streets under the Chennai South Joint I SRO that carry a 2024 guideline value, ranging from Rs 1,120 to Rs 3,300 per sq.ft. The median guideline value in this area is Rs 1,650 per sq.ft, placing Kamatchi Nagar's 2024 figure below that median.

• Kamatchi Nagar 1st Street: Rs 1,210 per sq.ft (2024)
• Kamatchi Nagar 2nd Street: Rs 1,210 per sq.ft (2024)
• Kamatchi Nagar 3rd Street: 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

For a 1,000 sq.ft plot at the current guideline value of Rs 1,210 per sq.ft, the total 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, bringing the total fees to 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 also use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Kamatchi Nagar?

The Sub Registrar Office that covers Kamatchi 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 more information.

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

The guideline value is a crucial factor when buying or selling property in Sivabootham. It is used to determine the stamp duty and registration fees that must be paid during the registration process. Buyers and sellers should be aware that the guideline value may differ from the actual sale price, and the higher of the two will be used to calculate the applicable fees.

When registering a property, it is essential to provide the correct guideline value to ensure compliance with local regulations. This value is established by the Registration Department and reflects the market conditions in the area.

Frequently asked questions

What is the current guideline value of Kamatchi Nagar?

The current guideline value of Kamatchi Nagar 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 2023 to Rs 1,210 per sq.ft in 2024, marking a 10% increase. The value has also increased significantly from Rs 737 per sq.ft in 2017 to Rs 1,100 per sq.ft in 2023.

What is the land classification of Kamatchi Nagar?

Kamatchi Nagar falls under the Residential Class III Type - I land classification, which indicates its suitability for residential purposes.

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

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. These fees are calculated based on the guideline value or the sale price, whichever is higher.

Which Sub Registrar Office covers Kamatchi Nagar?

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