Guideline Value for Kadampadi Amman Nagar 7th Street

Kadampadi Amman Nagar 7th Street guideline value

The current guideline value of Kadampadi Amman Nagar 7th Street is Rs 3,850 per sq.ft. This street is located in Valasaravakkam village, under the jurisdiction of the Virugambakkam SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Kadampadi Amman Nagar 7th Street has changed

The guideline value for Kadampadi Amman Nagar 7th Street has undergone several revisions over the years. In the 2007 revision, the value was set at Rs 650 per sq.ft, which saw a significant increase to Rs 3,500 per sq.ft in 2012. However, there was a decrease in the 2017 revision, dropping to Rs 2,345 per sq.ft. The most recent revision, effective from 1 July 2024, has raised the value to Rs 3,850 per sq.ft, marking an overall increase of 492% from the 2007 figure.

Notably, there are no figures available for the revisions in 2023, 2003, and 2002 for this street. From 2012 to 2017, the guideline value decreased by 33%, while the jump from 2017 to 2024 represents a 64% increase. The substantial rise from 2007 to 2012 of 438% highlights the fluctuations in the guideline value over the years.

Guideline values in Valasaravakkam

In Valasaravakkam, there are 774 streets under the Virugambakkam SRO, with guideline values ranging from Rs 2,750 to Rs 8,800 per sq.ft. The median guideline value for these streets is Rs 3,850 per sq.ft, which is the same as the current value for Kadampadi Amman Nagar 7th Street.

• Kadampadi Amman Nagar 6th Street: Rs 3,850 per sq.ft (2024)
• Kadampadi Amman Nagar 8th Street: Rs 3,850 per sq.ft (2024)
• Kadampadi Amman Nagar 5th Street: Rs 3,850 per sq.ft (2024)
• Kadampadi Amman Nagar 3rd Street: Rs 3,850 per sq.ft (2024)
• Kadampadi Amman Nagar 2nd Street: Rs 3,850 per sq.ft (2024)
• Kadampadi Amman Nagar 1st Street: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Kadampadi Amman Nagar 7th Street

For a 1,000 sq.ft plot at the current rate of Rs 3,850 per sq.ft, the guideline value would be Rs 38,50,000. The stamp duty at 7% would amount to Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, totaling Rs 3,46,500. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kadampadi Amman Nagar 7th Street?

The Sub Registrar Office covering Kadampadi Amman Nagar 7th Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor during the registration of property transactions in Valasaravakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction reflects a fair representation of the property's worth.

When buying or selling property, the guideline value is used to calculate applicable taxes, including stamp duty and registration fees. Buyers should be aware of the guideline value to ensure compliance with local regulations during the registration process.

Frequently asked questions

What is the current guideline value of Kadampadi Amman Nagar 7th Street?

The current guideline value of Kadampadi Amman Nagar 7th Street is Rs 3,850 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed significantly, with an increase of 492% from Rs 650 per sq.ft in 2007 to Rs 3,850 per sq.ft in 2024. There was a notable drop from Rs 3,500 per sq.ft in 2012 to Rs 2,345 per sq.ft in 2017, followed by an increase to the current value.

What is the land classification for this street?

Kadampadi Amman Nagar 7th Street is classified as Residential Class II Type - I, indicating its suitability for residential development.

Where can I find the Sub Registrar Office for this area?

The Virugambakkam Sub Registrar Office covers Kadampadi Amman Nagar 7th Street, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

How is the stamp duty calculated for properties in this area?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property valued at Rs 38,50,000 would incur a stamp duty of Rs 2,69,500 at 7%.