Guideline Value for Kamatchi Baba Colony

Kamatchi Baba Colony guideline value

The current guideline value of Kamatchi Baba Colony, located in Alamathi village under the Redhills SRO, is Rs 440 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class III Type - I.

How the guideline value of Kamatchi Baba Colony has changed

The guideline value for Kamatchi Baba Colony has seen several revisions over the years. Starting from the 2003 revision, the value was Rs 19 per sq.ft. This increased significantly to Rs 200 per sq.ft in 2007, marking a rise of 953%. The value then saw a substantial increase to Rs 400 per sq.ft in 2012, which represented a 100% increase from the previous revision. However, it dropped to Rs 268 per sq.ft in 2017, reflecting a decrease of 33%. The 2023 revision brought the value back up to Rs 400 per sq.ft. Finally, the current guideline value is Rs 440 per sq.ft as of the 2024 revision, indicating a 10% increase from the previous year.

Overall, from the 2003 revision to the current 2024 value, there has been a remarkable increase of 2216%. It is important to note that the register has no figure for Kamatchi Baba Colony for the year 2002.

Guideline values in Alamathi

In Alamathi village, there are 54 streets under the Redhills SRO that carry a 2024 guideline value ranging from Rs 440 to Rs 1,100 per sq.ft, with a median value of Rs 550 per sq.ft. The guideline value for Kamatchi Baba Colony is below this median.

• Karpagam Gardens: Rs 550 per sq.ft (2024)
• Grant City: Rs 990 per sq.ft (2024)
• Export Tayloring Employees Co-operative Society Co: Rs 550 per sq.ft (2024)
• Edapalayam Road: Rs 990 per sq.ft (2024)
• Milk Depot Road: Rs 990 per sq.ft (2024)
• Mother Therasa Garden: Rs 550 per sq.ft (2024)

Stamp duty and registration fee for property in Kamatchi Baba Colony

For a 1,000 sq.ft plot at the current guideline value of Rs 440 per sq.ft, the total guideline value would be Rs 4,40,000. The stamp duty at 7% would amount to Rs 30,800, and the registration fee at 2% would be Rs 8,800, bringing the total to Rs 39,600. 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 Baba Colony?

The Sub Registrar Office that covers Kamatchi Baba Colony is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Alamathi. It is used to determine the stamp duty and registration fees that are applicable during the transaction.

When a property is registered, the guideline value is considered to ensure that the correct fees are collected. This value serves as a benchmark for property transactions within the area, ensuring transparency and consistency in the registration process.

Frequently asked questions

What is the current guideline value of Kamatchi Baba Colony?

The current guideline value of Kamatchi Baba Colony is Rs 440 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 19 per sq.ft in 2003 to Rs 440 per sq.ft in 2024, reflecting an overall increase of 2216% over the years.

What is the land classification of Kamatchi Baba Colony?

Kamatchi Baba Colony is classified as Residential Class III Type - I, indicating its designation for residential use.

Where can I find the Sub Registrar Office for Kamatchi Baba Colony?

The Sub Registrar Office for Kamatchi Baba Colony is located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

How is the stamp duty calculated for properties in Kamatchi Baba Colony?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, on a property valued at Rs 4,40,000, the stamp duty would be Rs 30,800 at a rate of 7%.