Guideline Value for Kamakshi Colony Sharmila Street

Kamakshi Colony Sharmila Street guideline value

The current guideline value of Kamakshi Colony Sharmila 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. The land classification for this area is Residential Special Type - I.

How the guideline value of Kamakshi Colony Sharmila Street has changed

The guideline value for Kamakshi Colony Sharmila Street has seen 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 2023 revision increased the value to Rs 4,000 per sq.ft, and the most recent 2024 revision has set it at Rs 4,400 per sq.ft. The register has no figure for this street for the years 2002, 2003, and 2007.

From 2012 to 2017, there was a decrease of 33%, but from 2017 to 2023, the value increased by 49%. The change from 2023 to 2024 reflects a 10% increase. Overall, from 2012 to 2024, 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 in this area is Rs 1,650 per sq.ft, placing Kamakshi Colony Sharmila Street's 2024 figure above that median.

• Kamakshi Colony 3rd Street: Rs 4,400 per sq.ft (2024)
• Kamakshi Colony 2nd 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 Sharmila 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. It is important to note that the 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 Sharmila Street?

The Sub Registrar Office that covers Kamakshi Colony Sharmila Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, Chengalpattu registration zone. To find your specific SRO, you can visit find your SRO.

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

The guideline value is a crucial factor in the registration process of property transactions in Chitlapakkam. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the transfer of property ownership.

When a buyer or seller engages in a property transaction, the guideline value ensures that the transaction is recorded at a fair value, which helps in maintaining transparency and accountability in real estate dealings.

Frequently asked questions

What is the current guideline value of Kamakshi Colony Sharmila Street?

The current guideline value of Kamakshi Colony Sharmila 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 increased to Rs 4,000 per sq.ft in 2023, and finally to Rs 4,400 per sq.ft in 2024.

What are the other streets with the same guideline value in Chitlapakkam?

Other streets in Chitlapakkam with the same guideline value of Rs 4,400 per sq.ft in 2024 include Kamakshi Colony 3rd Street, Kamakshi Colony 2nd Street, and Kamakshi Colony 1st Street.

What is the registration fee for property in Kamakshi Colony Sharmila Street?

The registration fee for property in Kamakshi Colony Sharmila Street is calculated as 2% of the guideline value or sale price, whichever is higher. For example, a property valued at Rs 44,00,000 would incur a registration fee of Rs 88,000.

Where is the Sub Registrar Office for Kamakshi Colony Sharmila Street located?

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