Guideline Value for Kamakshi Nagar

Kamakshi Nagar guideline value

The current guideline value of Kamakshi Nagar is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Mudichur village under the Padappai Sub Registrar Office (SRO). The land classification for this area is Residential Special Type - I.

How the guideline value of Kamakshi Nagar has changed

Over the years, the guideline value of Kamakshi Nagar has seen significant changes. The 2007 revision recorded a guideline value of Rs 779 per sq.ft, which increased to Rs 2,000 per sq.ft in 2012, marking a rise of 157%. However, from 2012 to 2017, the value decreased to Rs 1,340 per sq.ft, representing a decline of 33%. The subsequent revisions saw the value rise to Rs 2,000 per sq.ft in 2023, and then to Rs 2,200 per sq.ft in 2024, reflecting a 10% increase.

From 2017 to 2023, there was a substantial increase of 49%. Overall, from the 2007 revision to the current 2024 figure, the guideline value has increased by 182%. It is important to note that the register has no figures for the years 2002 and 2003 for this street.

Guideline values in Mudichur

Mudichur has a total of 135 streets under the Padappai SRO, with guideline values ranging from Rs 880 to Rs 4,000 per sq.ft. The median guideline value for these streets is Rs 2,200 per sq.ft, which is equal to the current guideline value of Kamakshi Nagar.

• Kalaignar Street: Rs 1,210 per sq.ft (2024)
• Kalaignar Karunanithi Street: Rs 1,210 per sq.ft (2024)
• Kambar Street: Rs 1,760 per sq.ft (2024)
• Kannaki Street: Rs 1,210 per sq.ft (2024)
• Karumari Amman Nagar: Rs 880 per sq.ft (2024)
• Indira Gandhi Street: Rs 1,210 per sq.ft (2024)

Stamp duty and registration fee for property in Kamakshi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty charged at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total fees to 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 Kamakshi Nagar?

The Kamakshi Nagar area is covered by the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Mudichur. It determines the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately in the official register. Buyers and sellers must be aware of the current guideline value to avoid any discrepancies during the registration process.

When a property is sold, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that both parties are aware of the financial implications of the transaction and that all legal requirements are met.

Frequently asked questions

What is the current guideline value of Kamakshi Nagar?

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

How has the guideline value changed over the years?

The guideline value has changed from Rs 779 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 182% over the years.

What are the stamp duty and registration fees for property in Kamakshi Nagar?

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 and the registration fee would be Rs 44,000, totaling Rs 1,98,000.

Where is the Padappai Sub Registrar Office located?

The Padappai Sub Registrar Office is located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

What is the land classification for Kamakshi Nagar?

The land classification for Kamakshi Nagar is Residential Special Type - I, indicating its designated use for residential purposes.