Guideline Value for Kamalapuram Colony

Kamalapuram Colony guideline value

The current guideline value of Kamalapuram Colony in Oragadam village is Rs 2,400 per sq.ft, effective from 1 July 2024. This area falls under the Ambattur SRO and is classified as Residential Special Type - I.

How the guideline value of Kamalapuram Colony has changed

The guideline value for Kamalapuram Colony has seen several revisions over the years. In 2007, the value was Rs 600 per sq.ft, which increased significantly to Rs 2,200 per sq.ft in 2012. However, this figure dropped to Rs 1,474 per sq.ft in 2017. The 2023 revision set the value at Rs 2,200 per sq.ft, and the most recent revision in 2024 raised it to Rs 2,400 per sq.ft.

From 2017 to 2023, there was a notable increase of 49%. The jump from 2023 to 2024 represents a further increase of 9%. Overall, from 2007 to 2024, the guideline value has increased by 300%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Oragadam

In Oragadam, there are 596 streets under the Ambattur SRO with a 2024 guideline value ranging from Rs 1,100 to Rs 3,500 per sq.ft. The median value is Rs 2,200 per sq.ft, placing Kamalapuram Colony's 2024 figure above this median.

• Kamakodi Extn 1st Cross Street: Rs 2,400 per sq.ft (2024)
• Kamagodi Street: Rs 2,400 per sq.ft (2024)
• Kalyaniamman Street: Rs 1,600 per sq.ft (2024)
• Kamarajar St (maruthi Nagar): Rs 1,300 per sq.ft (2024)
• Kamarajar Street (A.K.A. Nagar): Rs 1,400 per sq.ft (2024)
• Kamarajar Street (S.V.Nagar): Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in Kamalapuram Colony

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 to Rs 2,16,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kamalapuram Colony?

The Kamalapuram Colony is covered by 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 Oragadam

The guideline value is a critical factor when registering property transactions in Oragadam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, it is essential to be aware of the guideline value, as it influences the overall costs involved in the transaction. Buyers should ensure that the sale price is at least equal to the guideline value to avoid any legal issues during registration.

Frequently asked questions

What is the current guideline value of Kamalapuram Colony?

The current guideline value of Kamalapuram Colony 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 increased from Rs 600 per sq.ft in 2007 to Rs 2,400 per sq.ft in 2024, marking a total increase of 300% over the years.

What is the land classification for Kamalapuram Colony?

Kamalapuram Colony is classified as Residential Special Type - I under the guideline value register.

What are the stamp duty and registration fees for property in Kamalapuram Colony?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a property valued at Rs 24,00,000, the total fees would be Rs 2,16,000.

Which Sub Registrar Office covers Kamalapuram Colony?

The Ambattur Sub Registrar Office covers Kamalapuram Colony, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur - 600 053, Chennai registration zone.