Guideline Value for Kamakodi Street

Kamakodi Street guideline value

The current guideline value of Kamakodi Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Madipakkam-1 village under the Velacheri SRO and is classified as Residential Class II Type - I.

How the guideline value of Kamakodi Street has changed

According to the guideline value register, there are no figures available for Kamakodi Street for the years 2002, 2003, 2007, 2012, 2017, and 2023. The only available figure is from the 2024 revision, which is Rs 2,200 per sq.ft.

Since there are no figures for the previous revisions, it can be concluded that the guideline value has not changed over these years. The current figure of Rs 2,200 per sq.ft represents the first recorded value for this street in the guideline value register.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1823 streets under the Velacheri SRO, with guideline values ranging from Rs 1,650 to Rs 5,500 per sq.ft. The median guideline value in this village is Rs 2,750 per sq.ft, placing Kamakodi Street's 2024 figure below that median.

• Kalyana Kandasamy Street: Rs 2,200 per sq.ft (2024)
• Kamarajar Street: Rs 2,200 per sq.ft (2024)
• Kalaivani Street: Rs 1,650 per sq.ft (2024)
• Kalaivanar Street: Rs 3,850 per sq.ft (2024)
• Kalaimagal Street: Rs 2,750 per sq.ft (2024)
• Kalaimagal Nagar 2nd Cross Street: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Kamakodi Street

For a 1,000 sq.ft plot at the current rate of Rs 2,200 per sq.ft, the guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, totaling Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kamakodi Street?

The Sub Registrar Office that covers Kamakodi Street is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Madipakkam-1

The guideline value is a crucial factor when registering property transactions in Madipakkam-1. It serves as the minimum value on which stamp duty and registration fees are calculated, ensuring that the government receives due revenue from property transactions.

When buying or selling property, the guideline value helps determine the official value of the property, which is essential for legal and financial purposes. Buyers and sellers must be aware of the current guideline value to ensure compliance with local regulations during the registration process.

Frequently asked questions

What is the current guideline value of Kamakodi Street?

The current guideline value of Kamakodi Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

What land classification does Kamakodi Street fall under?

Kamakodi Street is classified as Residential Class II Type - I under the guideline value register.

Are there any previous guideline values for Kamakodi Street?

The guideline value register has no figures for Kamakodi Street for the years 2002, 2003, 2007, 2012, 2017, and 2023. The only available figure is from the 2024 revision.

How does the guideline value compare to other streets in Madipakkam-1?

Kamakodi Street's guideline value of Rs 2,200 per sq.ft is below the median value of Rs 2,750 per sq.ft for Madipakkam-1. Other streets in the area have varying guideline values, with some being higher and some lower.

What are the fees associated with buying property on Kamakodi Street?

For a property on Kamakodi Street, the stamp duty is calculated at 7% of the guideline value, and the registration fee is 2%. For example, a 1,000 sq.ft plot would incur a total of Rs 1,98,000 in fees based on the current guideline value.