Guideline Value for Kamatch Nagar 1st Cross Street

Kamatch Nagar 1st Cross Street guideline value

The current guideline value of Kamatch Nagar 1st Cross Street is Rs 3,600 per sq.ft, effective from 1 July 2024. This street is located in Maduravoyal village and falls under the Virugambakkam SRO. The land classification for this area is Residential Class I Type - II.

How the guideline value of Kamatch Nagar 1st Cross Street has changed

The guideline value for Kamatch Nagar 1st Cross Street has undergone several revisions over the years. The earliest recorded figure is from 2002, where the value was Rs 220 per sq.ft. This increased to Rs 241 per sq.ft in 2003, marking a 10% rise. The value saw a significant jump to Rs 400 per sq.ft in 2007, reflecting a 66% increase. In 2012, the guideline value rose to Rs 3,250 per sq.ft, which was a substantial increase of 713% from the previous revision. However, it decreased to Rs 2,177 per sq.ft in 2017, a decline of 33%. The value then increased to Rs 3,250 per sq.ft in 2023, before reaching the current figure of Rs 3,600 per sq.ft in 2024, an 11% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 1,536%. There are no figures available for revisions other than those listed above for Kamatch Nagar 1st Cross Street.

Guideline values in Maduravoyal

In Maduravoyal, there are 636 streets under the Virugambakkam SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 6,050 per sq.ft. The median guideline value for these streets is Rs 3,050 per sq.ft, placing Kamatch Nagar 1st Cross Street's 2024 figure above this median.

• Kamatch Nagar 1st Main Road: Rs 3,600 per sq.ft (2024)
• Kamatch Nagar 2nd Cross Street: Rs 3,600 per sq.ft (2024)
• Kamatch Nagar 2nd Main Road: Rs 3,600 per sq.ft (2024)
• Kamatch Nagar 3rd Main Road: Rs 3,600 per sq.ft (2024)
• Kamatch Nagar 4th Cross Street: Rs 4,950 per sq.ft (2024)
• Kamatch Nagar 4th Main Road: Rs 3,600 per sq.ft (2024)

Stamp duty and registration fee for property in Kamatch Nagar 1st Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,600 per sq.ft, the total guideline value amounts to Rs 36,00,000. The stamp duty at 7% would be Rs 2,52,000, and the registration fee at 2% would be Rs 72,000, bringing the total fees to Rs 3,24,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Kamatch Nagar 1st Cross Street?

The Sub Registrar Office that covers Kamatch Nagar 1st Cross Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more details.

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

The guideline value is a critical factor during the registration of property transactions in Maduravoyal. It serves as a benchmark for determining the minimum value of properties, ensuring that the registration process is transparent and standardized.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory for all transactions. This ensures that both parties are aware of the financial implications of the transaction based on the established guideline value.

Frequently asked questions

What is the current guideline value of Kamatch Nagar 1st Cross Street?

The current guideline value of Kamatch Nagar 1st Cross Street is Rs 3,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 220 per sq.ft in 2002 to Rs 3,600 per sq.ft in 2024, reflecting an overall increase of 1,536% over this period.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 36,00,000, the stamp duty would be Rs 2,52,000 and the registration fee would be Rs 72,000, totaling Rs 3,24,000.

Which office handles registrations for Kamatch Nagar 1st Cross Street?

The Virugambakkam Sub Registrar Office handles registrations for Kamatch Nagar 1st Cross Street, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

What is the median guideline value for streets in Maduravoyal?

The median guideline value for streets in Maduravoyal is Rs 3,050 per sq.ft, with Kamatch Nagar 1st Cross Street's value being above this median at Rs 3,600 per sq.ft.