Guideline Value for Kamatchi 1st Street

Kamatchi 1st Street guideline value

The current guideline value of Kamatchi 1st Street is Rs 1,900 per sq.ft, effective from 1 July 2024. This street is located in Erukancherry village, under the Madhavaram SRO, and is classified as Residential Class V Type - I.

How the guideline value of Kamatchi 1st Street has changed

Over the years, the guideline value for Kamatchi 1st Street has seen several revisions. The 2012 revision set the value at Rs 1,800 per sq.ft, which was later decreased to Rs 1,206 per sq.ft in the 2017 revision. Subsequently, the value rose to Rs 1,800 per sq.ft in 2023, and currently stands at Rs 1,900 per sq.ft as of the 2024 revision, marking a 6% increase from the previous year.

From 2012 to 2017, the value decreased by 33%. However, from 2017 to 2023, there was a significant increase of 49%. Overall, comparing the figures from 2012 to 2024, there has been a 6% increase in the guideline value.

Guideline values in Erukancherry

In Erukancherry, there are 376 streets under the Madhavaram SRO, with guideline values ranging from Rs 1,900 to Rs 3,800 per sq.ft. The median guideline value for these streets is Rs 2,500 per sq.ft, placing Kamatchi 1st Street's 2024 figure below that median.

• Kamatchi 2nd Street: Rs 1,900 per sq.ft (2024)
• Kamatchi 3rd Street: Rs 1,900 per sq.ft (2024)
• Kamatchi 4th Street: Rs 1,900 per sq.ft (2024)
• Kamaraj Street: Rs 2,500 per sq.ft (2024)
• Kamaraj Nagar Cross Street: Rs 2,500 per sq.ft (2024)
• Kamatchi Street: Rs 1,900 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 1,900 per sq.ft, the total guideline value amounts to Rs 19,00,000. The stamp duty at 7% would be Rs 1,33,000, and the registration fee at 2% would be Rs 38,000, totaling Rs 1,71,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use our stamp duty and registration fee calculator for more precise calculations.

Which Sub Registrar Office covers Kamatchi 1st Street?

The Madhavaram Sub Registrar Office covers Kamatchi 1st Street, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Erukancherry, as it determines the minimum value at which a property can be registered. This value is used to calculate the stamp duty and registration fees payable during the transaction.

When buying or selling property, it is essential to be aware of the guideline value, as it impacts the overall cost of the transaction. Buyers should ensure that the sale price meets or exceeds the guideline value to avoid any legal complications during registration.

Frequently asked questions

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

The current guideline value of Kamatchi 1st Street is Rs 1,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,800 per sq.ft in 2012 to Rs 1,206 per sq.ft in 2017, then to Rs 1,800 per sq.ft in 2023, and finally to Rs 1,900 per sq.ft in 2024.

What are the stamp duty and registration fees for property in Kamatchi 1st Street?

For a 1,000 sq.ft plot, the total guideline value is Rs 19,00,000, with a stamp duty of Rs 1,33,000 and a registration fee of Rs 38,000, totaling Rs 1,71,000.

Which Sub Registrar Office covers Kamatchi 1st Street?

The Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060, covers Kamatchi 1st Street.

What is the land classification of Kamatchi 1st Street?

Kamatchi 1st Street is classified as Residential Class V Type - I.