Guideline Value for Kamatchi 1st Street (Kurinji Street)

Kamatchi 1st Street (Kurinji Street) guideline value

The current guideline value of Kamatchi 1st Street (Kurinji Street) is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Kodungaiyur village under the Madhavaram SRO, classified as Residential Class II Type - I.

How the guideline value of Kamatchi 1st Street (Kurinji Street) has changed

The guideline value for Kamatchi 1st Street was revised several times over the years. The 2012 revision set the value at Rs 2,000 per sq.ft, which decreased to Rs 1,340 per sq.ft in 2017. However, the recent 2024 revision has increased the guideline value to Rs 2,200 per sq.ft, marking a significant increase of 64% from the 2017 figure.

Looking at the changes over the years, the value decreased by 33% from 2012 to 2017. Overall, from 2012 to 2024, there has been a slight increase of 10%. 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 Kodungaiyur

In Kodungaiyur, there are 1,318 streets under the Madhavaram SRO with a 2024 guideline value ranging from Rs 1,900 to Rs 4,000 per sq.ft. The median guideline value for these streets is Rs 2,700 per sq.ft, indicating that Kamatchi 1st Street's 2024 figure is below this median.

• Kamatchi 2nd Street (Kurinji Street): Rs 2,200 per sq.ft (2024)
• Kamatchi 3rd Street (Kurinji Street): Rs 2,200 per sq.ft (2024)
• Kamatchi 4th Street (Kurinji Street): Rs 2,200 per sq.ft (2024)
• Kamarasan 5th Street: Rs 2,200 per sq.ft (2024)
• Kamarasan 4th Street: Rs 2,200 per sq.ft (2024)
• Kamarasan 3rd Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Kamatchi 1st Street (Kurinji Street)

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, leading to a total of Rs 1,98,000. It is important to note that the 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 precise calculations.

Which Sub Registrar Office covers Kamatchi 1st Street (Kurinji Street)?

The Sub Registrar Office that covers Kamatchi 1st Street (Kurinji Street) is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more details.

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

The guideline value plays a crucial role in the property registration process in Kodungaiyur. When a property is bought or sold, the guideline value is used to determine the stamp duty and registration fees that need to be paid. This ensures that the transaction is recorded accurately and that the appropriate taxes are collected.

Additionally, the guideline value helps in maintaining transparency in property transactions. It provides a standardized measure for property values, helping both buyers and sellers understand the financial implications of their transactions.

Frequently asked questions

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

The current guideline value of Kamatchi 1st Street (Kurinji Street) is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions, with the 2012 figure at Rs 2,000 per sq.ft, decreasing to Rs 1,340 per sq.ft in 2017, and then increasing to Rs 2,200 per sq.ft in 2024.

What is the land classification for Kamatchi 1st Street?

Kamatchi 1st Street (Kurinji Street) is classified as Residential Class II Type - I according to the guideline value register.

Where can I find the Madhavaram Sub Registrar Office?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

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

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 at 7%.