Guideline Value for Kamachi Nagar

Kamachi Nagar guideline value

The current guideline value of Kamachi Nagar is Rs 550 per sq.ft, effective from 1 July 2024. This area is located in Kollappancheri village and falls under the Poonamallee SRO. The land classification for this street is Residential Special Type - I.

How the guideline value of Kamachi Nagar has changed

The guideline value for Kamachi Nagar has seen several revisions over the years. The 2012 revision set the value at Rs 500 per sq.ft, which then decreased to Rs 335 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 500 per sq.ft in the 2023 revision, and currently stands at Rs 550 per sq.ft from the 2024 revision, marking a 10% increase from the previous year.

In terms of percentage changes, the value rose by 49% from 2017 to 2023, while it saw a decrease of 33% from 2012 to 2017. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Kollappancheri

In Kollappancheri, there are 7 streets under the Poonamallee SRO that carry a 2024 guideline value, ranging from Rs 550 to Rs 2,900 per sq.ft, with a median value of Rs 2,300 per sq.ft. The guideline value for Kamachi Nagar is below this median.

• Kamatchi Nagar 5/28b: Rs 1,720 per sq.ft (2024)
• Homeland Klassic: Rs 2,900 per sq.ft (2024)
• Chaitanya Avenue: Rs 2,300 per sq.ft (2024)
• Rakesh Avenue: Rs 1,720 per sq.ft (2024)
• Royal Castle Phase-I: Rs 2,300 per sq.ft (2024)
• Royal Castle Phase - II: Rs 2,300 per sq.ft (2024)

Stamp duty and registration fee for property in Kamachi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 550 per sq.ft, the total guideline value would be Rs 5,50,000. The stamp duty at 7% would amount to Rs 38,500, and the registration fee at 2% would be Rs 11,000, bringing the total cost together to Rs 49,500. 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 Nagar?

The Sub Registrar Office that covers Kamachi Nagar is the Poonamallee Sub Registrar Office, located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Kollappancheri. It is used to determine the stamp duty and registration fees, which are calculated based on the guideline value or the sale price, whichever is higher.

When a property is registered, the guideline value ensures that the transaction is recorded at a fair value, which helps in maintaining transparency in the real estate market. Buyers and sellers should be aware of the current guideline value to understand their financial obligations during the transaction.

Frequently asked questions

What is the current guideline value of Kamachi Nagar?

The current guideline value of Kamachi Nagar is Rs 550 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 500 per sq.ft in 2012 to Rs 335 per sq.ft in 2017, then to Rs 500 per sq.ft in 2023, and currently to Rs 550 per sq.ft in 2024.

What is the land classification for Kamachi Nagar?

The land classification for Kamachi Nagar is Residential Special Type - I.

What is the stamp duty for property in Kamachi Nagar?

The stamp duty for property in Kamachi Nagar is calculated at 7% of the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Kamachi Nagar located?

The Sub Registrar Office for Kamachi Nagar is located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056.