Guideline Value for Kamala Nagar

Kamala Nagar guideline value

The current guideline value of Kamala Nagar, located in Perungalathur village under the Padappai SRO, is Rs 1,980 per sq.ft as per the 2024 revision effective from 1 July 2024. This area falls under Residential Class III Type - I land classification.

How the guideline value of Kamala Nagar has changed

Over the years, the guideline value of Kamala Nagar has seen several revisions. The 2012 revision recorded a value of Rs 1,800 per sq.ft, which decreased to Rs 1,206 per sq.ft in the 2017 revision. However, from 2017 to 2023, the value increased significantly to Rs 1,800 per sq.ft, and the latest revision in 2024 has set the value at Rs 1,980 per sq.ft, marking a 10% increase from the previous year. The register has no figures for the years 2002, 2003, and 2007 for this street.

In summary, the guideline value has changed from Rs 1,800 in 2012 to Rs 1,980 in 2024, resulting in an overall increase of 10% over the twelve-year period. The most notable change occurred between 2017 and 2023, where the value jumped by 49% from Rs 1,206 to Rs 1,800 per sq.ft.

Guideline values in Perungalathur

In Perungalathur, there are 411 streets under the Padappai SRO that carry a 2024 guideline value ranging from Rs 1,320 to Rs 5,500 per sq.ft, with a median value of Rs 2,310 per sq.ft. Kamala Nagar's 2024 figure is below this median.

• Kamadenu Nagar: Rs 1,980 per sq.ft (2024)
• Kamarajar Salai: Rs 2,970 per sq.ft (2024)
• Kalki Street: Rs 2,310 per sq.ft (2024)
• Kamaraj High Road: Rs 2,970 per sq.ft (2024)
• Kalaivanar Street: Rs 2,310 per sq.ft (2024)
• Kalaingar Karunanthi Street: Rs 2,310 per sq.ft (2024)

Stamp duty and registration fee for property in Kamala Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,980 per sq.ft, the total guideline value would be Rs 19,80,000. The stamp duty at 7% would amount to Rs 1,38,600, while the registration fee at 2% would be Rs 39,600. Together, these fees total Rs 1,78,200. 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 Kamala Nagar?

The Sub Registrar Office that covers Kamala Nagar is 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 Perungalathur

The guideline value is a critical component in the registration process of property transactions in Perungalathur. It serves as a benchmark for determining the minimum price at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duties and registration fees.

When buying or selling property, the guideline value will influence the overall costs involved in the transaction. Buyers should be aware that the stamp duty and registration fees are calculated based on the higher of the guideline value or the sale price, which can significantly affect the total expenditure during the purchase process.

Frequently asked questions

What is the current guideline value of Kamala Nagar?

The current guideline value of Kamala Nagar is Rs 1,980 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,800 in 2012 to Rs 1,980 in 2024, with significant increases noted in the revisions from 2017 to 2023 and from 2023 to 2024.

What is the land classification of Kamala Nagar?

Kamala Nagar is classified under Residential Class III Type - I, which indicates its zoning for residential purposes.

Where is the Sub Registrar Office for Kamala Nagar located?

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

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 19,80,000, the stamp duty would be Rs 1,38,600 and the registration fee would be Rs 39,600.