Guideline Value for Kamatchi Nagar 2nd Street

Kamatchi Nagar 2nd Street guideline value

The current guideline value of Kamatchi Nagar 2nd Street is Rs 1,300 per sq.ft, effective from 1 July 2024. This street is located in Madambakkam village and falls under the Selaiyur SRO. The land classification for this area is Residential Class II Type - II.

How the guideline value of Kamatchi Nagar 2nd Street has changed

The guideline value for Kamatchi Nagar 2nd Street has seen several revisions over the years. The 2012 revision set the value at Rs 1,200 per sq.ft, which was then reduced to Rs 804 per sq.ft in the 2017 revision, marking a decrease of 33%. However, the latest revision in 2024 has increased the guideline value to Rs 1,300 per sq.ft, representing a significant increase of 62% from the 2017 figure.

From 2012 to 2024, the overall change in guideline value is an increase of 8%. It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2023 for this street.

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, with a median value of Rs 2,400 per sq.ft. The guideline value of Kamatchi Nagar 2nd Street is below this median.

• Kamatchi Nagar 1st 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 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value amounts to Rs 13,00,000. The stamp duty at 7% would be Rs 91,000, and the registration fee at 2% would be Rs 26,000, making the total cost for these fees Rs 1,17,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kamatchi Nagar 2nd Street?

The Kamatchi Nagar 2nd Street is covered by the Selaiyur Sub Registrar Office located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, within 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 of the property for registration purposes, ensuring that the transaction is recorded accurately in the official records.

When buying or selling property, the guideline value helps in calculating the applicable stamp duty and registration fees. These fees are based on the guideline value or the sale price, whichever is higher, ensuring that the government receives the correct revenue from property transactions.

Frequently asked questions

What is the current guideline value of Kamatchi Nagar 2nd Street?

The current guideline value of Kamatchi Nagar 2nd 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 changed from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, and then increased to Rs 1,300 per sq.ft in 2024. Overall, from 2012 to 2024, there has been an increase of 8%.

What is the land classification of Kamatchi Nagar 2nd Street?

Kamatchi Nagar 2nd Street is classified as Residential Class II Type - II, indicating its suitability for residential development.

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 are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price of the property, whichever is higher. For example, for a property valued at Rs 13,00,000, the stamp duty would be Rs 91,000 and the registration fee would be Rs 26,000.