Guideline Value for Kamalam Nagar

Kamalam Nagar guideline value

The current guideline value of Kamalam Nagar, located in Thirumullaivoyal village under the Ambattur SRO, is Rs 2,400 per sq.ft. This value is effective from 1 July 2024. The land classification for this area is Residential Class I Type - I.

How the guideline value of Kamalam Nagar has changed

The guideline value for Kamalam Nagar has seen several revisions over the years. In 2002, the value was Rs 59 per sq.ft, which increased significantly to Rs 175 per sq.ft in 2003, marking a change of +197%. The value continued to rise dramatically, reaching Rs 200 per sq.ft in 2007, an increase of +14%. The following revision in 2012 saw a substantial jump to Rs 2,200 per sq.ft, reflecting a remarkable increase of +1000%. However, this value dropped to Rs 1,474 per sq.ft in 2017, showing a decrease of -33%. The most recent revision in 2024 set the guideline value at Rs 2,400 per sq.ft, a rise of +63% from the 2017 figure.

It is important to note that there is no figure available for the year 2023 in the register for this street. Overall, from 2002 to 2024, the guideline value has increased by +3968%, showcasing significant growth over the years.

Guideline values in Thirumullaivoyal

In Thirumullaivoyal, there are 975 streets under the Ambattur SRO that carry a 2024 guideline value, ranging from Rs 880 to Rs 5,500 per sq.ft. The median value for these streets is Rs 2,400 per sq.ft, which is equal to the current guideline value for Kamalam Nagar.

• Kamalam Nagar 1St Street: Rs 2,400 per sq.ft (2024)
• Kamalam Nagar 2nd Street: Rs 2,400 per sq.ft (2024)
• Kamalam Nagar 3rd Street: Rs 2,400 per sq.ft (2024)
• Kamalam Nagar 4th Street: Rs 2,400 per sq.ft (2024)
• Kamalammal Nagar: Rs 1,900 per sq.ft (2024)
• Kamalam Nagar Kambar Street: Rs 2,400 per sq.ft (2024)

Stamp duty and registration fee for property in Kamalam Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,400 per sq.ft, the total guideline value amounts to Rs 24,00,000. The stamp duty at 7% would be Rs 1,68,000, and the registration fee at 2% would be Rs 48,000, bringing the total fees to Rs 2,16,000. It is important to note that 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 further calculations.

Which Sub Registrar Office covers Kamalam Nagar?

The Sub Registrar Office that covers Kamalam Nagar is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur - 600 053, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Thirumullaivoyal. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must be aware that the registration fees and stamp duty are calculated based on this guideline value.

When a property is sold, the guideline value ensures that the transaction is recorded at a fair value, preventing undervaluation. This process helps maintain transparency and accountability in property transactions within the region.

Frequently asked questions

What is the current guideline value of Kamalam Nagar?

The current guideline value of Kamalam Nagar is Rs 2,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 59 per sq.ft in 2002 to Rs 2,400 per sq.ft in 2024, reflecting an overall increase of +3968% over the years.

What is the land classification for Kamalam Nagar?

The land classification for Kamalam Nagar is Residential Class I Type - I, indicating its designation for residential use.

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

The Sub Registrar Office for Kamalam Nagar is located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur - 600 053, Chennai registration zone.

How is stamp duty calculated for properties in Kamalam Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For instance, for a 1,000 sq.ft plot at Rs 2,400 per sq.ft, the stamp duty would be Rs 1,68,000.