Guideline Value for Kamatchi Nagar 1st Street

Kamatchi Nagar 1st Street guideline value

The current guideline value of Kamatchi Nagar 1st Street is Rs 1,760 per sq.ft, effective from 1 July 2024. This street is located in Anakaputhur village under the Pammal SRO and is classified as Residential Class II Type - I.

How the guideline value of Kamatchi Nagar 1st Street has changed

Over the years, the guideline value for Kamatchi Nagar 1st Street has seen several revisions. The 2017 revision set the value at Rs 1,072 per sq.ft, which increased significantly to Rs 1,600 per sq.ft in the 2023 revision. The latest revision in 2024 has further increased this to Rs 1,760 per sq.ft, marking a 10% increase from the previous year.

From 2017 to 2023, the guideline value rose by 49%, and overall, from 2017 to 2024, there has been a total increase of 64%. The register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Anakaputhur

In Anakaputhur, there are 501 streets under the Pammal SRO that carry a 2024 guideline value, ranging from Rs 1,320 to Rs 4,640 per sq.ft, with the median value being Rs 1,980 per sq.ft. The guideline value for Kamatchi Nagar 1st Street is below this median.

• Kamatchi Nagar 2nd Street: Rs 1,760 per sq.ft (2024)
• Kamatchi Nagar 3rd Street: Rs 1,760 per sq.ft (2024)
• Kamatchi Nagar 4th Street: Rs 1,760 per sq.ft (2024)
• Kamatchi Nagar 5th Street: Rs 1,760 per sq.ft (2024)
• Kamatchi Nagar 6th Street: Rs 1,760 per sq.ft (2024)
• Kamatchi Nagar 7th Street: Rs 1,760 per sq.ft (2024)

Stamp duty and registration fee for property in Kamatchi Nagar 1st Street

For a 1,000 sq.ft plot at the current rate, the guideline value would be Rs 17,60,000. The stamp duty at 7% would be Rs 1,23,200, and the registration fee at 2% would be Rs 35,200, making the total Rs 1,58,400. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Kamatchi Nagar 1st Street?

The Sub Registrar Office that covers Kamatchi Nagar 1st Street is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor when registering property transactions in Anakaputhur. It serves as a benchmark for determining the stamp duty and registration fees applicable to the sale or purchase of property.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable fees. This ensures that the government receives the appropriate revenue based on the value of the property being transferred.

Frequently asked questions

What is the current guideline value of Kamatchi Nagar 1st Street?

The current guideline value of Kamatchi Nagar 1st Street is Rs 1,760 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since 2017, the guideline value has increased from Rs 1,072 per sq.ft to Rs 1,760 per sq.ft in 2024, reflecting a total increase of 64% over this period.

What are the stamp duty and registration fees for a property in Kamatchi Nagar 1st Street?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total fees would amount to Rs 1,58,400.

Which office handles registrations for Kamatchi Nagar 1st Street?

The Pammal Sub Registrar Office is responsible for handling registrations for Kamatchi Nagar 1st Street, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

What is the land classification for Kamatchi Nagar 1st Street?

Kamatchi Nagar 1st Street is classified as Residential Class II Type - I, which is important for determining its guideline value and usage.