Guideline Value for Kamatchi 3rd Street (Kurinji Street)

Kamatchi 3rd Street (Kurinji Street) guideline value

The current guideline value for Kamatchi 3rd Street (Kurinji Street) is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Kodungaiyur village and falls under the Madhavaram SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Kamatchi 3rd Street (Kurinji Street) has changed

The guideline value for Kamatchi 3rd Street has seen several revisions over the years. The 2012 revision set the value at Rs 2,000 per sq.ft. However, in the 2017 revision, the value decreased to Rs 1,340 per sq.ft, marking a significant drop of 33%. The latest revision in 2024 has increased the guideline value to Rs 2,200 per sq.ft, representing a 64% increase from the 2017 figure.

Overall, from the 2012 revision to the 2024 revision, the guideline value has seen a slight increase of 10%. It is important to note that the guideline 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 that carry a 2024 guideline value ranging from Rs 1,900 to Rs 4,000 per sq.ft, with a median value of Rs 2,700 per sq.ft. The guideline value for Kamatchi 3rd Street is below this median.

• Kamatchi 2nd Street (Kurinji Street): Rs 2,200 per sq.ft (2024)
• Kamatchi 4th Street (Kurinji Street): Rs 2,200 per sq.ft (2024)
• Kamatchi 1st 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 3rd 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, while the registration fee at 2% would be Rs 44,000. Together, the total cost for these fees would be Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kamatchi 3rd Street (Kurinji Street)?

The Sub Registrar Office that covers Kamatchi 3rd 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 information.

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

The guideline value is a critical factor in property transactions in Kodungaiyur, as it determines the minimum value on which stamp duty and registration fees are calculated. When registering a property, the buyer must pay these fees based on the guideline value or the sale price, whichever is higher.

This ensures that the transaction is recorded accurately and reflects the property's value according to the official guidelines. Buyers and sellers should be aware of the guideline value in their area to understand the financial implications of their property transactions.

Frequently asked questions

What is the current guideline value for Kamatchi 3rd Street?

The current guideline value for Kamatchi 3rd 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. This represents a 64% increase from 2017 to 2024 and an overall increase of 10% from 2012 to 2024.

What is the land classification for Kamatchi 3rd Street?

The land classification for Kamatchi 3rd Street (Kurinji Street) is Residential Class II Type - I, indicating its designation for residential purposes.

Where can I find the Sub Registrar Office for Kamatchi 3rd Street?

The Sub Registrar Office for Kamatchi 3rd Street is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

How is the stamp duty calculated for properties in Kamatchi 3rd Street?

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