Guideline Value for Kamatchi 2nd Street

Kamatchi 2nd Street guideline value

The current guideline value of Kamatchi 2nd Street is Rs 1,900 per sq.ft, effective from 1 July 2024. This street is located in Erukancherry village under the Madhavaram SRO, classified as Residential Class V Type - I.

How the guideline value of Kamatchi 2nd Street has changed

The guideline value for Kamatchi 2nd Street has seen several revisions over the years. In 2012, the value was Rs 1,800 per sq.ft, which decreased to Rs 1,206 per sq.ft in 2017. This was a decline of 33%. Subsequently, the value increased significantly to Rs 1,800 per sq.ft in 2023, followed by a further increase to Rs 1,900 per sq.ft in 2024, marking a 6% rise.

Overall, from 2012 to 2024, the guideline value has increased by 6%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Erukancherry

In Erukancherry, there are 376 streets under the Madhavaram SRO that have a 2024 guideline value ranging from Rs 1,900 to Rs 3,800 per sq.ft, with a median value of Rs 2,500 per sq.ft. Kamatchi 2nd Street's 2024 guideline value is below this median.

• Kamatchi 1st 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 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,900 per sq.ft, the total guideline value would be 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. 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?

The Madhavaram Sub Registrar Office covers Kamatchi 2nd Street, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for further assistance.

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

The guideline value is an essential factor during the registration of property transactions in Erukancherry. It serves as the basis for calculating stamp duty and registration fees, ensuring that the transaction is recorded at a value recognized by the government.

When buying or selling property, it is crucial to be aware of the guideline value as it impacts the overall cost of the transaction. Buyers should ensure that they are informed about the current rates to avoid any discrepancies during the registration process.

Frequently asked questions

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

The current guideline value of Kamatchi 2nd 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 guideline values of other streets in Erukancherry?

Other streets in Erukancherry have varying guideline values, with Kamatchi 1st, 3rd, and 4th Streets all at Rs 1,900 per sq.ft, while Kamaraj Street and Kamaraj Nagar Cross Street are at Rs 2,500 per sq.ft.

What fees are associated with buying property in Kamatchi 2nd Street?

When buying property in Kamatchi 2nd Street, the stamp duty is 7% of the guideline value, and the registration fee is 2%. Together, these fees can add a significant amount to the total cost.

Where is the Sub Registrar Office for Kamatchi 2nd Street?

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