Guideline Value for KamatChi Nagar

KamatChi Nagar guideline value

The current guideline value of KamatChi Nagar is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Zaminpallavaram village, under the Pallavaram SRO, and is classified as Commercial Class I Type - III.

How the guideline value of KamatChi Nagar has changed

The guideline value of KamatChi Nagar has undergone several revisions over the years. The 2007 revision set the value at Rs 600 per sq.ft, which saw a significant increase to Rs 4,000 per sq.ft in both the 2012 and 2023 revisions. The register has no figure for the years 2002, 2003, and 2017 for this street.

In the 2024 revision, the guideline value increased to Rs 4,400 per sq.ft, marking a 10% rise from the 2023 figure. Overall, from the 2007 revision to the 2024 revision, there has been a remarkable increase of 633% in the guideline value.

Guideline values in Zaminpallavaram

Zaminpallavaram village has a total of 638 streets under the Pallavaram SRO, with 2024 guideline values ranging from Rs 2,100 to Rs 11,000 per sq.ft. The median guideline value for these streets is Rs 3,300 per sq.ft, placing KamatChi Nagar's 2024 figure above this median.

• Kambar Street: Rs 2,750 per sq.ft (2024)
• Kamaraj Nagar & Street: Rs 3,520 per sq.ft (2024)
• Kannabiran Koil 1st Street: Rs 2,750 per sq.ft (2024)
• Kannabiran Koil Street: Rs 2,750 per sq.ft (2024)
• Kannabiran Street: Rs 2,750 per sq.ft (2024)
• Kannadasan Street,Rajiv Gandhi Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in KamatChi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value would be Rs 44,00,000. The stamp duty at 7% would amount to Rs 3,08,000, while the registration fee at 2% would be Rs 88,000, bringing the total cost to Rs 3,96,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers KamatChi Nagar?

The Sub Registrar Office that covers KamatChi Nagar is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor in property transactions in Zaminpallavaram. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value when negotiating sale prices to ensure compliance with registration requirements.

When registering a property, the guideline value will influence the stamp duty and registration fees applicable to the transaction. It is essential to be aware of these costs to avoid any surprises during the registration process.

Frequently asked questions

What is the current guideline value of KamatChi Nagar?

The current guideline value of KamatChi Nagar is Rs 4,400 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since the 2007 revision, the guideline value has increased by 633%. The most recent revision in 2024 saw a 10% increase from the 2023 figure.

What is the classification of land in KamatChi Nagar?

KamatChi Nagar is classified as Commercial Class I Type - III, indicating its intended use for commercial purposes.

Where can I find the Pallavaram Sub Registrar Office?

The Pallavaram Sub Registrar Office is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone.

How is the stamp duty calculated for properties in KamatChi 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 44,00,000 would incur a stamp duty of Rs 3,08,000.