Guideline Value for Kadariammbal Nagar

Kadariammbal Nagar guideline value

The current guideline value of Kadariammbal Nagar is Rs 2,970 per sq.ft, effective from 1 July 2024. This area is located in Hastinapuram village, under the Pallavaram Sub Registrar Office (SRO), and is classified as Residential Class I Type - I.

How the guideline value of Kadariammbal Nagar has changed

The guideline value for Kadariammbal Nagar has undergone several revisions over the years. In 2007, the guideline value was Rs 525 per sq.ft, which saw a significant increase to Rs 2,700 per sq.ft in 2012, marking a rise of 414%. However, this value decreased to Rs 1,809 per sq.ft in 2017, a decline of 33%. The value then rose sharply to Rs 2,700 per sq.ft in 2023, and further increased by 10% to the current rate of Rs 2,970 per sq.ft in 2024.

Between the 2017 and 2023 revisions, there was a notable increase of 49%. Overall, from 2007 to 2024, the guideline value has increased by 466%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Hastinapuram

In Hastinapuram village, there are 277 streets under the Pallavaram SRO with a 2024 guideline value ranging from Rs 1,650 to Rs 4,400 per sq.ft. The median value is Rs 2,970 per sq.ft, which matches the current guideline value for Kadariammbal Nagar.

• Kadai Amman Nagar: Rs 1,650 per sq.ft (2024)
• Kamakodi Street: Rs 2,920 per sq.ft (2024)
• Kambar Street: Rs 1,650 per sq.ft (2024)
• Janatha Nagar: Rs 2,920 per sq.ft (2024)
• Janakiraman Street: Rs 2,970 per sq.ft (2024)
• Jain Nagar Extension: Rs 2,970 per sq.ft (2024)

Stamp duty and registration fee for property in Kadariammbal Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,970 per sq.ft, the total guideline value would be Rs 29,70,000. The stamp duty at 7% would amount to Rs 2,07,900, and the registration fee at 2% would be Rs 59,400, bringing the total to Rs 2,67,300. 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 Kadariammbal Nagar?

The Kadariammbal Nagar area is covered by the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Hastinapuram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When a property is sold, the sale price must be at least equal to the guideline value. If the sale price is lower than the guideline value, the stamp duty will be calculated based on the guideline value, ensuring that the registration reflects the property's true market worth as determined by the government.

Frequently asked questions

What is the current guideline value of Kadariammbal Nagar?

The current guideline value of Kadariammbal Nagar is Rs 2,970 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 525 per sq.ft in 2007 to Rs 2,970 per sq.ft in 2024, reflecting an overall increase of 466% over this period.

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

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total fees would amount to Rs 2,67,300.

Which Sub Registrar Office covers Kadariammbal Nagar?

The Pallavaram Sub Registrar Office covers Kadariammbal Nagar, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

What is the land classification of Kadariammbal Nagar?

Kadariammbal Nagar is classified as Residential Class I Type - I, indicating its designation for residential purposes within the area.