Guideline Value for KAMATCHIAMMAN NAGAR

Kamatchiamman Nagar guideline value

The current guideline value of Kamatchiamman Nagar is Rs 1,650 per sq.ft, effective from the 2024 revision. This area is located in Pallikaranai village and falls under the Chennai South Joint I SRO, classified as Residential Class IV Type - I.

How the guideline value of Kamatchiamman Nagar has changed

The guideline value for Kamatchiamman Nagar has seen significant changes over the years. Starting from Rs 104 per sq.ft in 2002, it increased to Rs 123 per sq.ft in 2003. The value then rose sharply to Rs 400 per sq.ft in 2007, and further to Rs 1,500 per sq.ft in 2012. However, it decreased to Rs 1,005 per sq.ft in 2017, before climbing to Rs 1,500 per sq.ft in 2023, and finally reaching Rs 1,650 per sq.ft in 2024.

Between the revisions, there were notable changes. From 2002 to 2024, the overall increase was +1,487%. The most significant change occurred from 2007 to 2012, with an increase of +275%. The guideline value then saw a decrease of -33% from 2012 to 2017, followed by a substantial increase of +49% from 2017 to 2023, and a final rise of +10% from 2023 to 2024.

Guideline values in Pallikaranai

Pallikaranai village has a total of 749 streets under the Chennai South Joint I SRO with a 2024 guideline value ranging from Rs 1,110 to Rs 8,580 per sq.ft. The median guideline value is Rs 1,650 per sq.ft, which is the same as the current figure for Kamatchiamman Nagar.

• Kamatchiamman Nagar 1st Street: Rs 1,650 per sq.ft (2024)
• Kamatchiamman Nagar 2nd Street: 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

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value would be Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, making the total charges 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.

You can use the stamp duty and registration fee calculator for more accurate calculations based on your specific property details.

Which Sub Registrar Office covers Kamatchiamman Nagar?

The Sub Registrar Office that covers Kamatchiamman 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 Pallikaranai

The guideline value is a crucial factor in the registration process when buying or selling property in Pallikaranai. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring compliance with local regulations.

When a property transaction occurs, the guideline value helps in calculating the applicable stamp duty and registration fees. Buyers and sellers should be aware of this value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Kamatchiamman Nagar?

The current guideline value of Kamatchiamman Nagar is Rs 1,650 per sq.ft, effective from the 2024 revision.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 104 per sq.ft in 2002 to Rs 1,650 per sq.ft in 2024, with various increases and decreases in between.

What is the registration office for Kamatchiamman Nagar?

The registration office for Kamatchiamman 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.

How is stamp duty calculated in Kamatchiamman Nagar?

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, the stamp duty would be Rs 1,15,500 at the current guideline value.

What are the other streets in Pallikaranai with the same guideline value?

Other streets in Pallikaranai, such as Kamatchiamman Nagar 1st Street, 2nd Street, 3rd Street, 4th Street, Main Road, and Kamatchi Colony, also have a guideline value of Rs 1,650 per sq.ft in 2024.