Guideline Value for Kamatchi Amman Nagar

Kamatchi Amman Nagar guideline value

The current guideline value for Kamatchi Amman Nagar is Rs 1,300 per sq.ft, effective from 1 July 2024. This locality is part of Madhavaram village, under the Madhavaram SRO, and is classified as Residential Class III Type - I.

How the guideline value of Kamatchi Amman Nagar has changed

The guideline value for Kamatchi Amman Nagar has undergone several revisions over the years. In 2012, the guideline value was Rs 1,200 per sq.ft, which decreased to Rs 804 per sq.ft in 2017, representing a decline of 33%. The value then increased significantly to Rs 1,200 per sq.ft in 2023, and further rose to Rs 1,300 per sq.ft in 2024, marking an 8% increase from the previous year.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for this street. Overall, from 2012 to 2024, the guideline value has increased by 8%.

Guideline values in Madhavaram

In Madhavaram, there are 1,946 streets under the Madhavaram SRO with a 2024 guideline value ranging from Rs 1,300 to Rs 7,500 per sq.ft. The median guideline value in this area is Rs 1,600 per sq.ft, placing Kamatchi Amman Nagar's 2024 figure below the median.

• Kamatchiamman Nagar, Ponniammanmedu (Ward-23): Rs 1,300 per sq.ft (2024)
• Kamaraj St (Ward No.25): Rs 1,600 per sq.ft (2024)
• Kamaraj St (Ward No.16): Rs 1,600 per sq.ft (2024)
• Kamatchi Nagar (Ward No.24): Rs 2,200 per sq.ft (2024)
• Kamaraj St Main Rd (Ward No.23): Rs 2,700 per sq.ft (2024)
• Kamaraj School Rd (Ward No.21): Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in Kamatchi Amman Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value would be Rs 13,00,000. The stamp duty at 7% would amount to Rs 91,000, and the registration fee at 2% would be Rs 26,000, bringing the total cost to Rs 1,17,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can also use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Kamatchi Amman Nagar?

The Madhavaram Sub Registrar Office covers Kamatchi Amman Nagar. The office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find more information about your local office by visiting find your SRO.

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

The guideline value is a crucial factor during the registration of property transactions in Madhavaram. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid based on the property’s value.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair value, which helps in maintaining transparency in the real estate market. Buyers and sellers should always refer to the latest guideline value to understand the financial implications of their property transactions.

Frequently asked questions

What is the current guideline value of Kamatchi Amman Nagar?

The current guideline value of Kamatchi Amman Nagar is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, then to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,300 per sq.ft in 2024.

What is the land classification of Kamatchi Amman Nagar?

Kamatchi Amman Nagar is classified as Residential Class III Type - I.

Where can I find the Madhavaram Sub Registrar Office?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

How is the stamp duty calculated for properties in Kamatchi Amman Nagar?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 13,00,000, the stamp duty would be Rs 91,000.