Guideline Value for Kamakshi Colony 3rd Street

Kamakshi Colony 3rd Street guideline value

The current guideline value of Kamakshi Colony 3rd 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, classified as Residential Special Type - I.

How the guideline value of Kamakshi Colony 3rd Street has changed

The guideline value for Kamakshi Colony 3rd Street has undergone several revisions over the years. In 2012, the value was Rs 4,000 per sq.ft, which then decreased to Rs 2,680 per sq.ft in 2017. Following this, the value increased significantly to Rs 4,000 per sq.ft in 2023, and further rose to Rs 4,400 per sq.ft in 2024, marking a 10% increase from the previous year.

From 2017 to 2023, there was a substantial increase of 49%. 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 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 value is Rs 1,650 per sq.ft, making the current value of Kamakshi Colony 3rd Street above this median.

• Kamakshi Colony 2nd Street: Rs 4,400 per sq.ft (2024)
• Kamakshi Colony Sharmila Street: Rs 4,400 per sq.ft (2024)
• Kamakshi Colony 1st 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 3rd 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, totaling 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 also use the stamp duty and registration fee calculator for more accurate calculations.

Which Sub Registrar Office covers Kamakshi Colony 3rd Street?

Kamakshi Colony 3rd Street falls under 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

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

When buying or selling property, the guideline value helps in assessing the fair value of the property. Buyers and sellers must consider this value to ensure compliance with local regulations during the transaction process.

Frequently asked questions

What is the current guideline value of Kamakshi Colony 3rd Street?

The current guideline value of Kamakshi Colony 3rd 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 of Kamakshi Colony 3rd Street?

Kamakshi Colony 3rd Street is classified as Residential Special Type - I.

Where can I find more information about stamp duty and registration fees?

You can use the stamp duty and registration fee calculator for detailed information and calculations regarding stamp duty and registration fees.

Which Sub Registrar Office covers Kamakshi Colony 3rd Street?

The Tambaram Joint 1 Sub Registrar Office covers Kamakshi Colony 3rd Street, located at No.26, Mes Road, East Tambaram, Chennai-600059.