Guideline Value for Kamakshi Colony 1st Street

Kamakshi Colony 1st Street guideline value

The current guideline value of Kamakshi Colony 1st Street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Chitlapakkam village, under the Tambaram Joint 1 SRO, and is classified as Residential Special Type - I.

How the guideline value of Kamakshi Colony 1st Street has changed

The guideline value for Kamakshi Colony 1st Street has undergone several revisions over the years. The 2012 revision set the value at Rs 4,000 per sq.ft, which was then reduced to Rs 2,680 per sq.ft in the 2017 revision, reflecting a decrease of 33%. Following this, the value increased significantly to Rs 4,000 per sq.ft in the 2023 revision, and further rose to Rs 4,400 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

There are no recorded figures for the years 2002, 2003, and 2007 in the register for this street. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%.

Guideline values in Chitlapakkam

In Chitlapakkam, there are 548 streets under the Tambaram Joint 1 SRO, with guideline values ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median guideline value for these streets is Rs 1,650 per sq.ft, placing Kamakshi Colony 1st Street's 2024 figure above this median.

• Kamakshi Colony 2nd Street: Rs 4,400 per sq.ft (2024)
• Kamakotti Nagar Cross Street: Rs 3,300 per sq.ft (2024)
• Kamakshi Colony 3rd Street: Rs 4,400 per sq.ft (2024)
• Kamakotti Nagar: Rs 3,300 per sq.ft (2024)
• Kamakshi Colony Sharmila Street: Rs 4,400 per sq.ft (2024)
• Kalyanasundram Street: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Kamakshi Colony 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value would be Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, bringing the total to Rs 3,96,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Kamakshi Colony 1st Street?

The Sub Registrar Office that covers Kamakshi Colony 1st Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone.

To find your SRO, you can visit find your SRO.

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

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

When a property is sold, the sale price must be compared with the guideline value. The higher of the two figures is used to calculate the applicable stamp duty and registration fees, which are mandatory for the legal transfer of property ownership.

Frequently asked questions

What is the current guideline value of Kamakshi Colony 1st Street?

The current guideline value of Kamakshi Colony 1st Street is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 4,000 per sq.ft in 2012 to Rs 2,680 per sq.ft in 2017, then to Rs 4,000 per sq.ft in 2023, and finally to Rs 4,400 per sq.ft in 2024.

What is the land classification for Kamakshi Colony 1st Street?

Kamakshi Colony 1st Street is classified as Residential Special Type - I.

Where can I find the registration office for Kamakshi Colony 1st Street?

The registration office for Kamakshi Colony 1st Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059.

How is stamp duty calculated for properties in Kamakshi Colony 1st Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 44,00,000, the stamp duty would be Rs 3,08,000 at 7%.