Guideline Value for Kamadhenu Chamber

Kamadhenu Chamber guideline value

The current guideline value of Kamadhenu Chamber, located in Mugappair village under the Konnur SRO, is Rs 7,100 per sq.ft, effective from 1 July 2024. This property falls under the Residential Special Type - I land classification.

How the guideline value of Kamadhenu Chamber has changed

The guideline value for Kamadhenu Chamber has seen several revisions over the years. In 2002, it was Rs 461 per sq.ft, which increased to Rs 506 per sq.ft in 2003, marking a 10% rise. The value then rose significantly to Rs 1,200 per sq.ft in 2007, reflecting a 137% increase. Following this, the value jumped to Rs 6,500 per sq.ft in 2012, representing a substantial 442% increase from the previous revision. However, in 2017, it decreased to Rs 4,355 per sq.ft, showing a decline of 33%.

In the subsequent years, the guideline value rose again to Rs 6,500 per sq.ft in 2023, which was a 49% increase from 2017. The most recent revision in 2024 set the value at Rs 7,100 per sq.ft, reflecting a 9% increase from 2023. There are no figures available for revisions in the years not listed in the register for this street.

Guideline values in Mugappair

Mugappair village has 224 streets under the Konnur SRO with a 2024 guideline value range from Rs 3,300 to Rs 8,800 per sq.ft. The guideline value for Kamadhenu Chamber is equal to the median value of Rs 7,100 per sq.ft. Below are the guideline values for other streets in Mugappair:

• Kallamegam Road: Rs 8,800 per sq.ft (2024)
• Kamarajar Nagar: Rs 5,500 per sq.ft (2024)
• Kamarajar Street: Rs 3,800 per sq.ft (2024)
• Kamaraj nagar and 1 to 4 Cross Street: Rs 3,800 per sq.ft (2024)
• Kambar Salai: Rs 8,800 per sq.ft (2024)
• Kannadhasan Salai: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Kamadhenu Chamber

For a 1,000 sq.ft plot at the current guideline value of Rs 7,100 per sq.ft, the total guideline value amounts to Rs 71,00,000. The stamp duty is charged at 7%, which totals Rs 4,97,000, and the registration fee is charged at 2%, amounting to Rs 1,42,000. Together, these fees total Rs 6,39,000. 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 information.

Which Sub Registrar Office covers Kamadhenu Chamber?

The Kamadhenu Chamber falls under the jurisdiction of the Konnur Sub Registrar Office, located at Sub Register Office, Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai. To find your SRO, you can visit find your SRO.

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

The guideline value is a critical factor when registering property transactions in Mugappair. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When you buy or sell property in Kamadhenu Chamber, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory for the registration process. Buyers should be aware that these fees are calculated on the higher of the guideline value or the sale price, making it essential to understand the current guideline values.

Frequently asked questions

What is the current guideline value of Kamadhenu Chamber?

The current guideline value of Kamadhenu Chamber is Rs 7,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, starting from Rs 461 per sq.ft in 2002 to Rs 7,100 per sq.ft in 2024, reflecting an overall increase of 1440% since 2002.

What are the stamp duty and registration fees for properties in Kamadhenu Chamber?

For a property valued at Rs 71,00,000, the stamp duty is Rs 4,97,000 and the registration fee is Rs 1,42,000, totaling Rs 6,39,000.

Which office handles property registrations for Kamadhenu Chamber?

The Konnur Sub Registrar Office handles property registrations for Kamadhenu Chamber, located at Sub Register Office, Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai.

What is the land classification for Kamadhenu Chamber?

Kamadhenu Chamber is classified under Residential Special Type - I, which is relevant for understanding its guideline value and property usage.