Guideline Value for KAMATCHI STREET

Kamatchi Street guideline value

The current guideline value of Kamatchi Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Perambur village, under the Purasaivakkam SRO, and is classified as Residential Class IV Type - I.

How the guideline value of Kamatchi Street has changed

The guideline value for Kamatchi Street has seen several revisions over the years. The earliest recorded value was Rs 353 per sq.ft in 2002. This increased to Rs 387 per sq.ft in 2003, marking a 10% rise. Following this, the value rose significantly to Rs 550 per sq.ft in 2007, reflecting a 42% increase. The value then surged to Rs 2,000 per sq.ft in 2012, a remarkable 264% increase. However, it decreased to Rs 1,340 per sq.ft in 2017, showing a decline of 33%. The guideline value was Rs 2,000 per sq.ft in 2023, before reaching the current value of Rs 2,200 per sq.ft in 2024, which is a 10% increase.

Overall, from 2002 to 2024, the guideline value has increased by 523%. The register has no figure for the years not listed above.

Guideline values in Perambur

In Perambur village, there are 1,114 streets under the Purasaivakkam SRO that carry a 2024 guideline value ranging from Rs 1,600 to Rs 7,100 per sq.ft, with a median value of Rs 2,700 per sq.ft. The guideline value of Kamatchi Street is below this median.

• Kamraj New Colony: Rs 3,200 per sq.ft (2024)
• Kamraj Street: Rs 2,200 per sq.ft (2024)
• Kanagammal Lane: Rs 2,200 per sq.ft (2024)
• Kamaraj Nagar 8th Street: Rs 3,200 per sq.ft (2024)
• Kamaraj Nagar 7th Street: Rs 3,200 per sq.ft (2024)
• Kamaraj Nagar 6th Street: Rs 3,200 per sq.ft (2024)

Stamp duty and registration fee for property in Kamatchi Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total charges to Rs 1,98,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kamatchi Street?

The Sub Registrar Office that covers Kamatchi Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can find your SRO for more information.

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

The guideline value is an essential factor in the registration process when buying or selling property. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the transaction.

When a property is registered, the guideline value is used to calculate the applicable duties, ensuring that the government receives the correct revenue. Buyers and sellers should be aware of the guideline value to understand the financial implications of their property transactions.

Frequently asked questions

What is the current guideline value of Kamatchi Street?

The current guideline value of Kamatchi Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed significantly from Rs 353 per sq.ft in 2002 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 523% over this period.

What is the land classification for Kamatchi Street?

Kamatchi Street is classified as Residential Class IV Type - I.

Where can I find the Sub Registrar Office for Kamatchi Street?

The Sub Registrar Office for Kamatchi Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.

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

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current rate, the total stamp duty would be Rs 1,54,000.