Guideline Value for Kamatchi 2nd Street (Kurinji Street)

Kamatchi 2nd Street (Kurinji Street) guideline value

The current guideline value of Kamatchi 2nd 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, and is classified as Residential Class II Type - I.

How the guideline value of Kamatchi 2nd Street (Kurinji Street) has changed

Over the years, the guideline value of Kamatchi 2nd Street has seen several revisions. The 2012 revision set the value at Rs 2,000 per sq.ft, which then decreased to Rs 1,340 per sq.ft in the 2017 revision. Following this, the guideline value experienced a significant increase to Rs 2,200 per sq.ft in the 2024 revision, marking a 64% rise from the 2017 figure. Overall, from 2012 to 2024, the guideline value has increased by 10%.

It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2023 in the register for this street. The changes between the revisions highlight the fluctuations in the guideline value over time, with the most recent revision reflecting a notable increase.

Guideline values in Kodungaiyur

In Kodungaiyur, there are 1,318 streets under the Madhavaram SRO that carry a 2024 guideline value ranging from Rs 1,900 to Rs 4,000 per sq.ft, with a median of Rs 2,700 per sq.ft. The guideline value of Kamatchi 2nd Street (Kurinji Street) is below this median.

• Kamatchi 1st 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 2nd 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 amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total to Rs 1,98,000. It is essential to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Kamatchi 2nd Street (Kurinji Street)?

The Sub Registrar Office that covers Kamatchi 2nd Street (Kurinji Street) is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in the registration process of property transactions in Kodungaiyur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring transparency in real estate transactions.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory costs incurred during the registration process. Buyers should be aware of the guideline value to understand the financial implications of their property transactions.

Frequently asked questions

What is the current guideline value of Kamatchi 2nd Street (Kurinji Street)?

The current guideline value of Kamatchi 2nd 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 changed from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, and then increased to Rs 2,200 per sq.ft in 2024. Overall, from 2012 to 2024, the guideline value has increased by 10%.

What are the stamp duty and registration fees for properties in Kamatchi 2nd Street?

For a 1,000 sq.ft property at the current guideline value, the total stamp duty would be Rs 1,54,000, and the registration fee would be Rs 44,000, totaling Rs 1,98,000.

Which Sub Registrar Office covers Kamatchi 2nd Street?

The Madhavaram Sub Registrar Office covers Kamatchi 2nd Street (Kurinji Street), located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

What is the land classification of Kamatchi 2nd Street?

Kamatchi 2nd Street (Kurinji Street) is classified as Residential Class II Type - I.