Guideline Value for KAMATCHIAMMAN NAGAR

Kamatchiamman Nagar guideline value

The current guideline value of Kamatchiamman Nagar is Rs 1,660 per sq.ft, effective from 1 July 2024. This area is located in Vanagaram village and falls under the Chennai South Joint I SRO, classified as Residential Class III Type - I.

How the guideline value of Kamatchiamman Nagar has changed

Over the years, the guideline value of Kamatchiamman Nagar has seen several revisions. The earliest recorded figure in 2002 was Rs 90 per sq.ft, which increased to Rs 216 per sq.ft in 2003. Following this, the value rose significantly to Rs 500 per sq.ft in 2007, reflecting a 140% increase from the previous year. In 2012, the guideline value was recorded again at Rs 1,500 per sq.ft, marking a substantial increase of 200% from 2007. However, this figure dropped to Rs 1,005 per sq.ft in 2017, which was a decrease of 33%.

In the subsequent revisions, the guideline value increased to Rs 1,500 per sq.ft in 2023, and then to Rs 1,660 per sq.ft in 2024, showing an increase of 11%. Overall, from 2002 to 2024, the guideline value has risen by 1,744%.

Guideline values in Vanagaram

Within Vanagaram village, there are 287 streets under the Chennai South Joint I SRO that have a 2024 guideline value ranging from Rs 770 to Rs 5,500 per sq.ft. The median guideline value for these streets is Rs 1,660 per sq.ft, which is equal to the current guideline value of Kamatchiamman Nagar.

• Kamatchi Nagar: Rs 1,660 per sq.ft (2024)
• Kambar Street: Rs 1,320 per sq.ft (2024)
• Kambar Street 1st Cross Street: Rs 1,320 per sq.ft (2024)
• Kandhamapuram: Rs 1,660 per sq.ft (2024)
• Kandhasamy Nagar: Rs 1,660 per sq.ft (2024)
• Kandhasamy Nagar 1st Cross Street: Rs 1,660 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 1,660 per sq.ft, the total guideline value would be Rs 16,60,000. The stamp duty at 7% would amount to Rs 1,16,200, and the registration fee at 2% would be Rs 33,200. Together, these fees would total Rs 1,49,400. 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 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 further assistance.

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

The guideline value plays a crucial role during the registration of property transactions in Vanagaram. It is the benchmark used to determine the stamp duty and registration fees that need to be paid when a property is bought or sold. Buyers and sellers should be aware of the guideline value to ensure compliance with the registration process.

When a property is registered, the guideline value is compared to the sale price, and the higher amount is considered for calculating the applicable duties and fees. This ensures that the government receives the appropriate revenue based on the property’s value.

Frequently asked questions

What is the current guideline value of Kamatchiamman Nagar?

The current guideline value of Kamatchiamman Nagar is Rs 1,660 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 90 per sq.ft in 2002 to Rs 1,660 per sq.ft in 2024, reflecting an overall increase of 1,744% over this period.

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

For a property valued at Rs 16,60,000, the stamp duty would be Rs 1,16,200 and the registration fee would be Rs 33,200, totaling Rs 1,49,400.

Which Sub Registrar Office covers Kamatchiamman Nagar?

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

How is the guideline value used in property transactions?

The guideline value is used as a basis for calculating stamp duty and registration fees during property transactions. It is compared to the sale price, and the higher amount is used for determining the applicable duties and fees.