Guideline Value for Kamala Nagar

Kamala Nagar guideline value

The current guideline value of Kamala Nagar, located in Chendrampakkam village under the Redhills SRO, is Rs 385 per sq.ft. This value is effective from 1 July 2024 and falls under the Residential Class I Type - I land classification.

How the guideline value of Kamala Nagar has changed

The guideline value for Kamala Nagar has undergone several revisions over the years. Starting from Rs 34 per sq.ft in 2003, it saw a significant increase to Rs 300 per sq.ft in 2007. The value then rose to Rs 350 per sq.ft in 2012, followed by a decrease to Rs 234 per sq.ft in 2017. The 2023 revision brought the value back up to Rs 350 per sq.ft, and as of the 2024 revision, it stands at Rs 385 per sq.ft.

Looking at the changes, the jump from 2003 to 2007 was a remarkable +782%. However, there was a decline of -33% from 2012 to 2017. The value increased by +50% from 2017 to 2023, and the latest revision shows a rise of +10% from 2023 to 2024. Overall, from 2003 to 2024, the guideline value has increased by +1032%. The register has no figure for this street in 2002.

Guideline values in Chendrampakkam

In Chendrampakkam, there are 13 streets under the Redhills SRO carrying a 2024 guideline value, ranging from Rs 165 to Rs 385 per sq.ft, with a median value of Rs 275 per sq.ft. Kamala Nagar's 2024 figure of Rs 385 per sq.ft is above this median.

• Kamarajar Nagar: Rs 165 per sq.ft (2024)
• Lakshmi Nagar: Rs 385 per sq.ft (2024)
• M.G. Nagar: Rs 385 per sq.ft (2024)
• Pathmavathi Nagar: Rs 385 per sq.ft (2024)
• Raj Nagar: Rs 385 per sq.ft (2024)
• R.V. Krishnan Chettiyar Nagar: Rs 275 per sq.ft (2024)

Stamp duty and registration fee for property in Kamala Nagar

For a 1,000 sq.ft plot at the current rate of Rs 385 per sq.ft, the guideline value amounts to Rs 3,85,000. The stamp duty at 7% would be Rs 26,950, and the registration fee at 2% would be Rs 7,700, bringing the total to Rs 34,650. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kamala Nagar?

The Sub Registrar Office that covers Kamala Nagar is the Redhills Sub Registrar Office. The address is Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Chendrampakkam. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these costs are based on the official valuation rather than the sale price alone.

When buying or selling property, the guideline value helps both parties understand the official worth of the property. It is essential to be aware of the current guideline value to ensure compliance with local regulations and to avoid any potential disputes during the registration process.

Frequently asked questions

What is the current guideline value of Kamala Nagar?

The current guideline value of Kamala Nagar is Rs 385 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 34 per sq.ft in 2003 to Rs 385 per sq.ft in 2024, showing an overall increase of +1032% over the years.

What is the median guideline value in Chendrampakkam?

The median guideline value in Chendrampakkam is Rs 275 per sq.ft, with Kamala Nagar's value being above this median.

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

For a property valued at Rs 3,85,000, the stamp duty would be Rs 26,950, and the registration fee would be Rs 7,700, totaling Rs 34,650.

Which office handles registrations for Kamala Nagar?

The Redhills Sub Registrar Office handles registrations for Kamala Nagar, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.