Guideline Value for Kamakshi Colony 2nd Street

Kamakshi Colony 2nd Street guideline value

The current guideline value of Kamakshi Colony 2nd Street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Chitlapakkam village and falls under the Tambaram Joint 1 SRO. The land classification for this area is Residential Special Type - I.

How the guideline value of Kamakshi Colony 2nd Street has changed

The guideline value for Kamakshi Colony 2nd 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. Following this, the value increased significantly to Rs 4,000 per sq.ft in the 2023 revision, and finally to Rs 4,400 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

Between the 2017 and 2023 revisions, there was a notable increase of 49%. However, the 2012 to 2017 period saw a decrease of 33%. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register has no figure for this street in the years 2002, 2003, and 2007.

Guideline values in Chitlapakkam

In Chitlapakkam, there are 548 streets under the Tambaram Joint 1 SRO that have a 2024 guideline value ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median guideline value is Rs 1,650 per sq.ft, making the current value for Kamakshi Colony 2nd Street above this median.

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

Stamp duty and registration fee for property in Kamakshi Colony 2nd 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 amount to Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, bringing the total to Rs 3,96,000. Please note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Kamakshi Colony 2nd Street?

The Sub Registrar Office that covers Kamakshi Colony 2nd Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more details.

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

When buying or selling property in Chitlapakkam, the guideline value is a critical factor in determining the stamp duty and registration fees. The guideline value serves as a benchmark for the minimum value at which properties must be registered, ensuring that the government collects appropriate revenue from property transactions.

It is important to note that buyers must be aware of the guideline value to avoid any discrepancies during the registration process. The guideline value is updated periodically, and it is advisable to check the latest figures before engaging in any property transactions.

Frequently asked questions

What is the current guideline value of Kamakshi Colony 2nd Street?

The current guideline value of Kamakshi Colony 2nd 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 2nd Street?

The land classification for Kamakshi Colony 2nd Street is Residential Special Type - I.

Where can I find the Sub Registrar Office for Kamakshi Colony 2nd Street?

The Sub Registrar Office for Kamakshi Colony 2nd Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059.

How is the stamp duty calculated for properties in Kamakshi Colony 2nd Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at Rs 4,400 per sq.ft, the stamp duty would be Rs 3,08,000.