Guideline Value for KOMATHI NAGAR

Komathi Nagar guideline value

The current guideline value of Komathi Nagar, located in Nanthiambakkam village under the Thiruvottiyur SRO, is Rs 330 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Special Type - II.

How the guideline value of Komathi Nagar has changed

The guideline value for Komathi Nagar has seen several revisions over the years. Starting from the 2002 revision, the value was Rs 28 per sq.ft. This increased to Rs 32 per sq.ft in 2003, followed by a significant rise to Rs 50 per sq.ft in 2007. The 2012 revision saw the value remain at Rs 300 per sq.ft, but it dropped to Rs 201 per sq.ft in 2017. The guideline value then increased to Rs 300 per sq.ft in 2023, and finally, the current value is Rs 330 per sq.ft as of the 2024 revision.

In terms of percentage changes, the value rose by 14% from 2002 to 2003, followed by a 56% increase from 2003 to 2007. However, there was a significant drop of 33% from 2012 to 2017. The value surged by 500% from 2007 to 2012, and then increased by 49% from 2017 to 2023. The most recent change from 2023 to 2024 is an increase of 10%. Overall, from 2002 to 2024, the guideline value has increased by 1079%.

Guideline values in Nanthiambakkam

In Nanthiambakkam, there are 85 streets under the Thiruvottiyur SRO that carry a 2024 guideline value ranging from Rs 275 to Rs 770 per sq.ft. The median value for these streets is Rs 330 per sq.ft, which is equal to the current guideline value for Komathi Nagar.

• Karpagambal Nagar: Rs 330 per sq.ft (2024)
• Kanniappa Nagar /Kannappa Nagar: Rs 330 per sq.ft (2024)
• Madurai Vaithya Natha Iyar Road: Rs 330 per sq.ft (2024)
• Mahalakshmi Nagar: Rs 330 per sq.ft (2024)
• Mahaveer Nagar: Rs 330 per sq.ft (2024)
• MARIAMMAN NAGAR/ All EXTN: Rs 330 per sq.ft (2024)

Stamp duty and registration fee for property in Komathi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 330 per sq.ft, the total guideline value would be Rs 3,30,000. The stamp duty at 7% would be Rs 23,100, and the registration fee at 2% would be Rs 6,600, totaling Rs 29,700. It is important to note that duty is charged on the higher of the guideline value or the sale price. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Komathi Nagar?

The Sub Registrar Office that covers Komathi Nagar is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. To find your specific SRO, you can visit find your SRO.

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

The guideline value is a crucial factor in property transactions in Nanthiambakkam. It serves as a benchmark for determining the minimum value of a property during registration. When a property is sold, the guideline value is used to calculate the applicable stamp duty and registration fees.

Buyers and sellers must be aware that the guideline value may differ from the actual sale price. However, the duty is charged on the higher of the two values, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value for Komathi Nagar?

The current guideline value for Komathi Nagar is Rs 330 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 28 per sq.ft in 2002 to Rs 330 per sq.ft in 2024, reflecting an overall increase of 1079% over this period.

What is the land classification for Komathi Nagar?

Komathi Nagar is classified as Residential Special Type - II, indicating its suitability for residential development.

What are the stamp duty and registration fees for properties in Komathi Nagar?

For a property valued at Rs 3,30,000, the stamp duty would be Rs 23,100 and the registration fee would be Rs 6,600, totaling Rs 29,700.

Where can I find the Sub Registrar Office for Komathi Nagar?

The Sub Registrar Office for Komathi Nagar is located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.