Guideline Value for Kamatchi 4th Street

Kamatchi 4th Street guideline value

The current guideline value of Kamatchi 4th 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 4th Street has changed

In the 2012 revision, the guideline value was Rs 1,800 per sq.ft. This figure decreased significantly to Rs 1,206 per sq.ft in 2017, marking a decline of 33%. The value then rose to Rs 1,800 per sq.ft in the 2023 revision, before increasing again to Rs 1,900 per sq.ft in the 2024 revision, which is a 6% increase from the previous year.

Overall, from 2012 to 2024, the guideline value has seen a modest increase of 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 carry a 2024 guideline value. These values range from Rs 1,900 to Rs 3,800 per sq.ft, with a median value of Rs 2,500 per sq.ft. Kamatchi 4th Street's 2024 figure is below this median.

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

Stamp duty and registration fee for property in Kamatchi 4th Street

For a 1,000 sq.ft plot at the current rate of Rs 1,900 per sq.ft, the guideline value would be Rs 19,00,000. The stamp duty at 7% would amount to 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 guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kamatchi 4th Street?

The Madhavaram Sub Registrar Office covers Kamatchi 4th Street. The office is 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 plays a crucial role during the registration of property transactions in Erukancherry. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees.

When buying or selling property, the guideline value is compared with the sale price. The higher of the two figures is used to calculate the applicable stamp duty and registration fees, ensuring transparency and fairness in property transactions.

Frequently asked questions

What is the current guideline value of Kamatchi 4th Street?

The current guideline value of Kamatchi 4th Street is Rs 1,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2012, the guideline value has fluctuated, starting at Rs 1,800 per sq.ft in 2012, decreasing to Rs 1,206 per sq.ft in 2017, rising to Rs 1,800 per sq.ft in 2023, and finally reaching Rs 1,900 per sq.ft in 2024.

What is the land classification of Kamatchi 4th Street?

Kamatchi 4th Street is classified as Residential Class V Type - I under the Madhavaram SRO.

What are the stamp duty and registration fees for property in Kamatchi 4th Street?

The stamp duty is 7% and the registration fee is 2% of the guideline value or sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current rate has a total of Rs 1,71,000 in fees.

Which office handles registrations for Kamatchi 4th Street?

The Madhavaram Sub Registrar Office handles registrations for Kamatchi 4th Street, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.