Guideline Value for Kamatchi Nagar 1st Street

Kamatchi Nagar 1st Street guideline value

The current guideline value of Kamatchi Nagar 1st Street is Rs 1,300 per sq.ft, effective from 1 July 2024. This street is located in Madambakkam village, under the Selaiyur SRO, and is classified as Residential Class II Type - II.

How the guideline value of Kamatchi Nagar 1st Street has changed

In the 2012 revision, the guideline value was set at Rs 1,200 per sq.ft. However, in the 2017 revision, it decreased to Rs 804 per sq.ft, marking a decline of 33%. The most recent revision in 2024 saw a significant increase to Rs 1,300 per sq.ft, which represents a 62% rise from the 2017 figure.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 8%. It is important to note that the register has no figures for Kamatchi Nagar 1st Street for the years 2002, 2003, 2007, and 2023.

Guideline values in Madambakkam

In Madambakkam, there are 1,151 streets under the Selaiyur SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 6,000 per sq.ft. The median guideline value in this area is Rs 2,400 per sq.ft, placing Kamatchi Nagar 1st Street’s 2024 figure below that median.

• Kamatchi Nagar 2nd Street: Rs 1,300 per sq.ft (2024)
• Kamatchi Nagar: Rs 1,300 per sq.ft (2024)
• Kamatchi Nagar Cross Street: Rs 1,300 per sq.ft (2024)
• Kamatchi Nagar Main Road: Rs 1,300 per sq.ft (2024)
• Kamaraj Nagar Main Road: Rs 1,900 per sq.ft (2024)
• Kamaraj Nagar 3rd Street: Rs 1,900 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value would be Rs 13,00,000. The stamp duty at 7% would amount to Rs 91,000, and the registration fee at 2% would be Rs 26,000, totaling Rs 1,17,000. It is essential to note that the duty is charged on the higher of the guideline value and the sale price.

For more details on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kamatchi Nagar 1st Street?

The Sub Registrar Office that covers Kamatchi Nagar 1st Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more information.

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

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

When buying or selling property, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties and fees. This process helps maintain transparency and standardization in property transactions.

Frequently asked questions

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

The current guideline value of Kamatchi Nagar 1st Street is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen various changes, with a decrease from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, followed by an increase to Rs 1,300 per sq.ft in 2024.

What is the land classification for Kamatchi Nagar 1st Street?

Kamatchi Nagar 1st Street is classified as Residential Class II Type - II, indicating its suitability for residential purposes.

Where can I find the Selaiyur Sub Registrar Office?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.

How is stamp duty calculated for properties in Kamatchi Nagar 1st Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a property valued at Rs 13,00,000 would incur a stamp duty of Rs 91,000 at a rate of 7%.