Guideline Value for KAMMALAR STREET

Kammalar Street guideline value

The current guideline value of Kammalar Street is Rs 1,600 per sq.ft, effective from 1 July 2024. This street is located in Korattur village, under the Villivakkam Sub Registrar Office (SRO). The land classification for this area is Residential Class III Type - III.

How the guideline value of Kammalar Street has changed

The guideline value of Kammalar Street has seen several revisions over the years. The earliest recorded figure is from 2007, when it was Rs 250 per sq.ft. This increased significantly to Rs 1,500 per sq.ft in 2012, marking a substantial rise of 500%. However, the value then dropped to Rs 1,005 per sq.ft in 2017, a decrease of 33%. The most recent revision in 2024 has set the value at Rs 1,600 per sq.ft, reflecting an increase of 59% from the 2017 figure.

There are no figures available for Kammalar Street in the revisions for 2023, 2003, or 2002. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 540%.

Guideline values in Korattur

In Korattur, there are 617 streets under the Villivakkam SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 8,200 per sq.ft, with a median value of Rs 2,500 per sq.ft. Kammalar Street's 2024 guideline value of Rs 1,600 per sq.ft is below this median.

• Kandigai Street: Rs 2,900 per sq.ft (2024)
• KANNAGI NAGAR 1st STREET: Rs 2,500 per sq.ft (2024)
• KANNAGI NAGAR 2nd STREET: Rs 2,500 per sq.ft (2024)
• KANNAGI NAGAR 3rd STREET: Rs 2,500 per sq.ft (2024)
• Kannagi Nagar 5th Street: Rs 2,500 per sq.ft (2024)
• Kamaraj Nagar (Thanthankuppam): Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in Kammalar Street

For a 1,000 sq.ft plot at the current rate of Rs 1,600 per sq.ft, the guideline value amounts to Rs 16,00,000. The stamp duty at 7% would be Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, totaling Rs 1,44,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kammalar Street?

The Sub Registrar Office that covers Kammalar Street is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more details.

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

The guideline value is a crucial factor in property transactions in Korattur, as it determines the minimum value at which a property can be registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, ensuring that these charges are based on a standardized valuation.

During the registration process, the buyer must pay the stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Kammalar Street?

The current guideline value of Kammalar Street is Rs 1,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 250 per sq.ft in 2007 to Rs 1,600 per sq.ft in 2024, showing an overall increase of 540% over the years.

What is the land classification for Kammalar Street?

Kammalar Street is classified as Residential Class III Type - III according to the land classification in the area.

What are the other streets in Korattur and their guideline values?

Other streets in Korattur include Kandigai Street at Rs 2,900 per sq.ft, KANNAGI NAGAR 1st STREET, 2nd STREET, 3rd STREET, and 5th STREET all at Rs 2,500 per sq.ft, and Kamaraj Nagar (Thanthankuppam) at Rs 1,600 per sq.ft.

Where is the Villivakkam Sub Registrar Office located?

The Villivakkam Sub Registrar Office is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office.