Guideline Value for Kamachi Avenue

Kamachi Avenue guideline value

The current guideline value of Kamachi Avenue in Valarpuram village, under the Sriperumpudur SRO, is Rs 300 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class II Type - I land classification.

How the guideline value of Kamachi Avenue has changed

Over the years, the guideline value of Kamachi Avenue has experienced several revisions. The earliest recorded figure is from 2007, when the value was Rs 100 per sq.ft. This increased significantly to Rs 300 per sq.ft in 2012, marking a 200% rise. However, in the following revision in 2017, the value decreased to Rs 201 per sq.ft, which was a drop of 33%. From 2017 to 2023, the value rose again to Rs 300 per sq.ft, representing a 49% increase. The 2024 revision maintains this value at Rs 300 per sq.ft, showing no change from the previous year.

The register does not contain figures for the years 2002 and 2003 for Kamachi Avenue. Overall, from 2007 to 2024, the guideline value has increased by 200%.

Guideline values in Valarpuram

In Valarpuram, there are 91 streets under the Sriperumpudur SRO that carry a 2024 guideline value, ranging from Rs 100 to Rs 2,025 per sq.ft. The median value is Rs 300 per sq.ft, which is equal to the guideline value of Kamachi Avenue for 2024.

• Kamachi Avenue Phase - II: Rs 300 per sq.ft (2024)
• Kamachi Colony: Rs 300 per sq.ft (2024)
• Kambar Street: Rs 200 per sq.ft (2024)
• Kammalar Street: Rs 200 per sq.ft (2024)
• Joseph Nagar: Rs 400 per sq.ft (2024)
• Karthik Nagar: Rs 600 per sq.ft (2024)

Stamp duty and registration fee for property in Kamachi Avenue

For a 1,000 sq.ft plot at the current rate of Rs 300 per sq.ft, the guideline value amounts to Rs 3,00,000. The stamp duty at 7% would be Rs 21,000, and the registration fee at 2% would be Rs 6,000, totaling Rs 27,000. 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 Kamachi Avenue?

The Kamachi Avenue is covered by the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Valarpuram. It serves as the basis for calculating the stamp duty and registration fees, ensuring that these costs are aligned with the official valuation of the property.

When a property transaction occurs, the buyer must pay the applicable stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures transparency and helps maintain accurate records in the property registry.

Frequently asked questions

What is the current guideline value of Kamachi Avenue?

The current guideline value of Kamachi Avenue is Rs 300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen various changes, from Rs 100 per sq.ft in 2007 to Rs 300 per sq.ft in 2012, then decreasing to Rs 201 per sq.ft in 2017, and returning to Rs 300 per sq.ft in 2023 and 2024.

What is the land classification for Kamachi Avenue?

Kamachi Avenue is classified as Residential Class II Type - I, which indicates its suitability for residential development.

How does the guideline value affect property transactions?

The guideline value is used to calculate the stamp duty and registration fees during property transactions. Buyers must pay these fees based on the higher of the guideline value or the sale price.

Where can I find the Sub Registrar Office for Kamachi Avenue?

The Sub Registrar Office covering Kamachi Avenue is located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.