Guideline Value for Kamala Nagar

Kamala Nagar guideline value

The current guideline value of Kamala Nagar, located in Pammathukulam village under the Redhills SRO, is Rs 440 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class I Type - II.

How the guideline value of Kamala Nagar has changed

The guideline value for Kamala Nagar has undergone several revisions over the years. In 2007, the value was set at Rs 300 per sq.ft, which increased to Rs 400 per sq.ft in 2012. However, it then decreased to Rs 268 per sq.ft in 2017. The value saw a significant increase to Rs 400 per sq.ft in 2023, followed by another rise to Rs 440 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 47%. Notably, there are no figures available for the years 2002 and 2003 in the register for this street.

Guideline values in Pammathukulam

Pammathukulam village has a total of 101 streets under the Redhills SRO, with the 2024 guideline values ranging from Rs 330 to Rs 825 per sq.ft. The median value for these streets is Rs 550 per sq.ft, placing Kamala Nagar's 2024 figure below that median.

• Kamaraj Street: Rs 550 per sq.ft (2024)
• Jayalakshmi Avenue: Rs 330 per sq.ft (2024)
• Jagathambal Nagar: Rs 660 per sq.ft (2024)
• Iswariam Nagar Extn. II: Rs 440 per sq.ft (2024)
• Iswariam Nagar Extn.: Rs 440 per sq.ft (2024)
• Ishwaryam Nagar Extn.1: Rs 440 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 440 per sq.ft, the total guideline value amounts to Rs 4,40,000. The stamp duty, charged at 7%, would be Rs 30,800, while the registration fee at 2% would be Rs 8,800, bringing the total charges to Rs 39,600. 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 Kamala Nagar area falls under the jurisdiction of the Redhills Sub Registrar Office, located at 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 Pammathukulam

The guideline value is an essential factor during property transactions in Pammathukulam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately in the official register.

When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees, which are based on the guideline value or the sale price, whichever is higher. This ensures transparency and compliance with local regulations during property transactions.

Frequently asked questions

What is the current guideline value of Kamala Nagar?

The current guideline value of Kamala Nagar is Rs 440 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 300 per sq.ft in 2007 to Rs 440 per sq.ft in 2024, with several revisions in between, including a decrease in 2017.

What are the other streets in Pammathukulam and their guideline values?

Other streets in Pammathukulam include Kamaraj Street at Rs 550 per sq.ft, Jayalakshmi Avenue at Rs 330 per sq.ft, and Jagathambal Nagar at Rs 660 per sq.ft, among others.

How is the stamp duty calculated for properties in Kamala Nagar?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 4,40,000 would incur a stamp duty of Rs 30,800.

Where can I find the Sub Registrar Office for Kamala Nagar?

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