Guideline Value for KAMATCHIAMMAN NAGAR 1ST STREET

Kamatchiamman Nagar 1st Street guideline value

The current guideline value of Kamatchiamman Nagar 1st Street is Rs 1,650 per sq.ft, effective from 1 July 2024. This street is located in Pallikaranai village and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Class IV Type - I.

How the guideline value of Kamatchiamman Nagar 1st Street has changed

Over the years, the guideline value of Kamatchiamman Nagar 1st Street has seen several revisions. The most recent revision in 2024 set the value at Rs 1,650 per sq.ft, which represents a 10% increase from Rs 1,500 per sq.ft in the 2023 revision. Prior to that, the 2017 revision recorded a value of Rs 1,005 per sq.ft, reflecting a significant increase of 49% from the previous figure.

In earlier revisions, the 2012 guideline value was Rs 1,500 per sq.ft, which was a decrease of 33% from Rs 1,005 per sq.ft in 2017. From 2012 to 2024, the overall change is an increase of 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Pallikaranai

In Pallikaranai, there are a total of 749 streets under the Chennai South Joint I SRO that carry a 2024 guideline value, ranging from Rs 1,110 to Rs 8,580 per sq.ft. The median guideline value for these streets is Rs 1,650 per sq.ft, which is equal to the guideline value of Kamatchiamman Nagar 1st Street.

• Kamatchiamman Nagar 2nd Street: Rs 1,650 per sq.ft (2024)
• Kamatchiamman Nagar: Rs 1,650 per sq.ft (2024)
• Kamatchiamman Nagar 3rd Street: Rs 1,650 per sq.ft (2024)
• Kamatchiamman Nagar 4th Street: Rs 1,650 per sq.ft (2024)
• Kamatchiamman Nagar Main Road: Rs 1,650 per sq.ft (2024)
• Kamatchi Colony /Nagar: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Kamatchiamman Nagar 1st Street

For a property measuring 1,000 sq.ft at the current guideline value of Rs 1,650 per sq.ft, the total guideline value amounts to Rs 16,50,000. The stamp duty, charged at 7%, would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total fees to Rs 1,48,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kamatchiamman Nagar 1st Street?

The Kamatchiamman Nagar 1st Street is covered by 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 details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Pallikaranai. It is used to determine the stamp duty and registration fees that must be paid during the transaction. Buyers should be aware that the fees are calculated based on the higher of the guideline value or the sale price.

Understanding the guideline value is essential for both buyers and sellers, as it ensures compliance with local regulations and helps in accurately assessing the financial implications of a property transaction. It is advisable to check the latest guideline values before proceeding with any property dealings.

Frequently asked questions

What is the current guideline value of Kamatchiamman Nagar 1st Street?

The current guideline value of Kamatchiamman Nagar 1st Street is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2023 to Rs 1,650 per sq.ft in 2024, a 10% increase. It was Rs 1,005 per sq.ft in 2017, which was a 49% increase from the previous figure.

What is the land classification for Kamatchiamman Nagar 1st Street?

The land classification for Kamatchiamman Nagar 1st Street is Residential Class IV Type - I, indicating its designation for residential purposes.

Which office handles registrations for Kamatchiamman Nagar 1st Street?

The Chennai South Joint I Sub Registrar Office handles registrations for Kamatchiamman Nagar 1st Street, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, fanepet Nandanam, Chennai -600 035.

How is stamp duty calculated for properties in Kamatchiamman Nagar 1st Street?

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 16,50,000, the stamp duty would be Rs 1,15,500 at 7%.