Guideline Value for KAMATCHI NAGAR

Kamatchi Nagar guideline value

The current guideline value of Kamatchi Nagar, located in Ottiyampakkam village under the Selaiyur SRO, is Rs 1,300 per sq.ft. This value is effective from 1 July 2024 and 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 undergone several revisions over the years. The earliest recorded revision was in 2012, when the guideline value was Rs 1,200 per sq.ft. This was followed by a decrease to Rs 804 per sq.ft in 2017, marking a decline of 33%. In 2023, the value increased to Rs 1,200 per sq.ft, and the most recent revision in 2024 set the value at Rs 1,300 per sq.ft, reflecting an 8% increase from the previous year.

From 2017 to 2023, there was a significant increase of 49%, bringing the value back to Rs 1,200 per sq.ft. Overall, from 2012 to 2024, the guideline value has seen a modest increase of 8%.

Guideline values in Ottiyampakkam

In Ottiyampakkam, there are 88 streets under the Selaiyur SRO that carry a 2024 guideline value ranging from Rs 1,300 to Rs 4,300 per sq.ft, with a median value of Rs 1,950 per sq.ft. The guideline value for Kamatchi Nagar is below this median.

• Kambar Street: Rs 1,300 per sq.ft (2024)
• Kalathumettu Street: Rs 1,950 per sq.ft (2024)
• Kanni Koil First Cross Street: Rs 1,650 per sq.ft (2024)
• Kanni Koil Second Cross Street: Rs 1,650 per sq.ft (2024)
• Kanni Koil Street: Rs 1,650 per sq.ft (2024)
• Kalaimagal Street: Rs 1,950 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 1,300 per sq.ft, the total guideline value amounts to Rs 13,00,000. The stamp duty at 7% would be Rs 91,000, and the registration fee at 2% would be Rs 26,000, bringing the total to Rs 1,17,000. It is important to note that the 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 detailed calculations.

Which Sub Registrar Office covers Kamatchi Nagar?

The Sub Registrar Office that covers Kamatchi Nagar is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Ottiyampakkam. It serves as a benchmark for determining the minimum value of a property for registration purposes. Buyers and sellers must consider this value to ensure compliance with local regulations during the transaction process.

During the registration of property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory for legal ownership transfer. It is essential to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Kamatchi Nagar?

The current guideline value of Kamatchi Nagar is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, then back to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,300 per sq.ft in 2024.

What is the land classification of Kamatchi Nagar?

Kamatchi Nagar falls under the Residential Class III Type - I land classification.

Where can I find the Selaiyur Sub Registrar Office?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.

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 a property valued at Rs 13,00,000, the stamp duty would be Rs 91,000 at 7%, along with a registration fee of Rs 26,000 at 2%, totaling Rs 1,17,000.